Adevinta ASA (ADE) – Adevinta reports solid Q3 21 performance; reveals focus on core markets f …

adevinta asa ade adevinta reports solid q3 21 performance reveals focus on core markets for future growth

Sumary of Adevinta ASA (ADE) – Adevinta reports solid Q3 21 performance; reveals focus on core markets for future growth:

  • Rolv Erik Ryssdal, CEO Adevinta, comments: “Following the completion of the eBay Classifieds Group acquisition, we have refreshed our strategy and reviewed our portfolio of brands to focus and propel Adevinta for the long term.
  • Going forward, we will concentrate our investment capacity on five Core Markets: Germany, France, Spain, Benelux and Italy, where we remain very excited about the significant growth opportunities and our unique positions to capture those.
  • Story continues“We expect our Core Markets to generate an average revenue growth per annum of approximately 15% in the mid-to-long term, driving EBITDA margins between 40% and 45%.
  • “In line with Adevinta’s active portfolio management strategy, we have decided to divest Australia and South Africa commencing in early 2022.“Our revenues continued to grow in the third quarter, with Core Markets up 6% year-on-year.
  • The slower pace compared to the first half of the year reflects the combination of the post-pandemic recovery seen in Q3 2020 and lower activity levels this summer following the lifting of restrictions in most markets, as well as the current global slowdown we observe in the motors market.
  • We look forward to outlining the opportunities and our plans to capture those at our Capital Markets Day on 30 November.
  • de2142064%71-11%143158European Markets47641315%298183-4%4947International Markets14612516%516-100%5-Disposals315-79%315-36%11Other and Headquarters666%66>100%(1)2Eliminations(3)(2)-45%(3)(2)EBITDA per segment3%5052France16113817%161138-9%4641Mobile.
  • The whole management team of Adevinta will participate in the Q&A session.

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