DGAP-News: Scout24 AG
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Capital Markets Day: Scout24 AG announces strengthening of verticals to shape the networked marketplace of the future
As part of its strategic roadmap announced this summer, the Management Board outlines its key initiatives to benefit from industry trends driving the European digital classifieds markets. ImmoScout24 and AutoScout24 will offer a whole suite of new products and services designed to increase their total addressable markets, simplify the consumer journey, strengthen customer relationships, thereby resulting in attractive profitable growth for the group.
In addition, Scout24 is driving operational excellence, currently executing a cost optimisation program for its two verticals to operate in a leaner and more agile structure. This includes the reintegration of Consumer Services. All measures are fully on track to deliver an expected EUR 20 million of annual cost savings by 2021.
Scout24 is committed to a value-accretive capital allocation, by reinvesting into growth and returning cash to its shareholders through its dividend policy and announced share buy-back programme, whilst targeting a long-term leverage of up to 3.5x.
"We are the leading online classifieds group in Europe. With our two verticals, we are building on very strong brands. We are shaping the networked marketplace of the future by enhancing our product offering, driving monetization and improving operational excellence. Scout24 has consistently been and will be at the forefront of technological innovation as well as customer and consumer centricity. We have a proven track record of uninterrupted double-digit growth. We will further expand our market leadership of ImmoScout24 in Germany and AutoScout24 across Europe through a number of new product and service launches. We are building the ecosystem for real estate in Germany whilst also driving innovation across the consumer and customer journey for AutoScout24."
Tobias Hartmann, CEO of Scout24 AG
Dirk Schmelzer, CFO of Scout24 AG
AutoScout24: Driving innovation across the consumer and customer journey
Regarding the strategic review of AutoScout24, Scout24 has defined an organic value creation plan and concurrently initiated a process to explore a potential sale or separation of the business. This process is ongoing and Scout24 is carefully and diligently weighing options for AutoScout24 to maximise long-term shareholder value creation.
From November 27th on, you can find a recap of today's Capital Markets Day presentations and speeches on: https://www.scout24.com/en/Investor-Relations/events/capital-markets-day/Capital-Markets-Day.aspx
The information contained in this release is subject to amendment, revision and updating. Certain statements, beliefs and opinions in this document are forward-looking, which reflect the Company's or, as appropriate, senior management's current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results, including but not limited to the Company's financial position or profitability, to differ materially, also adversely, from those expressed or implied by the forward-looking statements. Statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any information contained in this document (including forward-looking statements), whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.
Scout24 also uses alternative performance measures, not defined by IFRS, to describe the Scout24 Group's results of operations. These should not be viewed in isolation, but treated as supplementary information. The special items used to calculate some alternative performance measures arise from the integration of acquired businesses, restructuring measures, impairments, gains or losses resulting from divestitures and sales of shareholdings, and other expenses and income that generally do not arise in conjunction with Scout24's ordinary business activities. Alternative performance measures used by Scout24 are defined in the "Glossary" section of Scout24's Group Interim Report 2019 which is available at www.scout24.com/finanzberichte.
Due to rounding, numbers presented throughout this document may not add up precisely to the totals indicated, and percentages may not precisely reflect the absolute figures for the same reason. Information on the quarterly financials has not been subject to audit and is thus preliminary.
26.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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