Berlin-based real estate marketer Scout24 has significantly raised its annual forecast, pleasantly surprising investors. Initially projecting 12–14% revenue growth, management now targets 14–15%, fueled by robust first-half performance. Revenue soared 15.5% to €318.2 million, with organic growth hitting 11.6%, signaling strength beyond acquisitions. Profitability outpaced expectations: adjusted EBITDA jumped 17.3% to €195.4 million, driving the margin up 100 basis points to 61.4%. The company now anticipates a 70-basis-point EBITDA margin improvement, up from 50.
Market Reaction Defies Fundamentals
Despite the upbeat revisions, Scout24’s shares showed muted response, briefly dipping 0.25% before a slight recovery. The disconnect highlights market unpredictability, even as the firm’s dual strategy—subscription resilience and acquisition synergies—delivers. Full half-year results, due August 7, may offer further clarity. The raised inorganic growth contribution (now 3% vs. 2%) underscores successful integration efforts, reinforcing long-term optimism.
