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Oslo, 5 May 2021 - Adevinta ASA (ADE) (“Adevinta” or “the Company”) reported a solid start to 2021 with revenues1 up 6% compared to the same period last year, or up 7% excluding impacts of disposal, acquisitions and forex, demonstrating further performance improvement despite the challenging environment.
Online classifieds revenues improved 8% (of which 5% is attributable to transactional services) compared to Q1 2020, when the Group saw strong performance until the Covid crisis started.
Display advertising revenues increased 2% year-on-year. Disposals in Global Markets and the Grupo Zap acquisition had a 1-point positive impact on revenue growth, whilst changes in exchange rate contributed negatively with 1.7 points.
Gross operating profit (EBITDA) including JVs increased 33% compared to Q1 2020. Revenue growth in the verticals, a lower level of one-off costs and favorable phasing of marketing expenses offset the ramp-up in personnel costs and transactional services.
Rolv Erik Ryssdal, CEO, commented: “As we continue to navigate through the uncertainty of the Covid pandemic, our focus has remained on keeping our people safe and on supporting our communities, users and customers.
“We had a solid start to 2021, with 7% organic revenue growth despite having to deal with the next wave of the virus and associated lockdown measures in our key markets.
“Revenue from our online classifieds accelerated in the quarter, with an increased contribution from transactional services, primarily in France. Our EBITDA margin, up 5.8 points year-on-year, reflected the performance of the classifieds business and also benefited from lower administrative costs and favorable phasing of expenses, with marketing campaigns being delayed until later in the year.
“We saw further enhancement of our product offering and user experience as well as strong acceleration in the deployment of transactional solutions across our portfolio.
“We also made further progress on the regulatory front ahead of our expected acquisition of eBay Classifieds Group, and we continue to target closing the transaction during the second quarter.
“We remain excited about the long term growth potential of our business, and we are approaching the short term uncertainty with even more confidence after a full year of successful managing through the crisis.”
Q1 2021 Highlights
Solid revenue performance despite challenging environment
EBITDA1 up 33% yoy to €57m
Successful delivery of product roadmap
Further progress ahead of the eBay Classifieds Group acquisition
Report on second-hand effect3
Key financial numbers
Alternative performance measures (APM) used in this press release are described and presented in the Definitions and Reconciliations section at the end of the Q1 2021 interim report.
Invitation to the presentation of the Q1 2021 results
You are cordially invited to participate in the presentation of Adevinta ASA’s Q1 2021 results on Wednesday 5 May 2021.
Presentation of the Quarterly Results
Time: 5 May 2021 at 08:30 CEST
The company will conduct the presentation as a live audio webcast and conference call, including a Q&A session. CEO Rolv Erik Ryssdal and CFO Uvashni Raman will present. The whole management team of Adevinta will participate in the Q&A session.
The webcast will be available on www.adevinta.com/ir and on this link: https://edge.media-server.com/mmc/p/io3jwiq5. Participants are also invited to ask questions using the dial-in numbers below.
Norway: +47 23 96 0 264
UK: +44 (0) 207 192 8000
USA: +1 631 510 74 95
Confirmation code: 4375475
A recording of the presentation will be available on our website shortly after the live webcast has ended.
1Proportionate basis incl JVs - for definition of EBITDA please see section Definitions and reconciliations.
2Growth at constant foreign exchange rate and excluding M&A and disposals
3Based on 7 marketplaces in our portfolio
Adevinta Q1 2021 interim report
Adevinta Q1 2021 Results presentation
Adevinta Q1 2021 -financials-and-analytical-info
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