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    ADE   NO0010844038

ADEVINTA ASA

(ADE)
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Real-time Oslo Bors  -  10:28 2022-06-30 am EDT
71.15 NOK   -1.45%
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Adevinta : publishes its 2021 Annual Report

04/28/2022 | 03:23pm EDT

Oslo, 28 April 2022- Adevinta ASA has released its 2021 Annual Report. It is available on www.adevinta.com/investors, and a printed copy may also be obtained free of charge upon written request to the following email address: ir@adevinta.com

Reflecting on 2021, Rolv Erik Ryssdal, CEO, said:

"As we look back on 2021, in many ways Adevinta feels like a new company. During the year under review, we became bigger, better and more successful. We have become the European champion of the online classifieds industry, operating a tried-and-tested business model in markets we know well. The key change over the past year is the scale of our opportunities, brands and assets, and the opportunities this scale presents. We have strong financial capacity as a combined business with revenue of more than €1.5 billion delivering robust profitability of 34% and generating strong cash flows. Adevinta is moving forward with an array of strengths; we are the largest pure-play classifieds player in the western world, serving more than one billion people and with leading positions in 15 markets. Among our 8,100 employees, we have close to 3,000 working in product and technology teams that drive our platforms and innovation each day.

"We closed 2021 with our markets and business well positioned. In France, leboncoin is a household name. In Germany, mobile.de is the biggest vehicle marketplace in Europe while eBay Kleinanzeigen is Germany's top classifieds portal. In the Netherlands, Marktplaats is the country's largest online marketplace. In Spain, we hold number one positions in motors and jobs and the number two slot in real estate. In Italy, we hold four strong and respected brands covering online classifieds, recruitment and motors. Outside Europe, we are considered to be the online classifieds champion in Brazil. We know that driving further growth requires strong execution and focus on the biggest opportunities. We therefore conducted a strategic review following the completion of the eCG acquisition to determine our key priorities, and to assess how we should invest for the highest return.

"We know that driving further growth requires strong execution and focus on the biggest opportunities. We therefore conducted a strategic review following the completion of the eCG acquisition to determine our key priorities, and to assess how we should invest for the highest return.

"The result was our new strategic plan entitled 'Growing at Scale':

  • Focus on our five core geographic markets
  • Concentrate on high-quality verticals
  • Become fully transactional in consumer goods
  • Leverage technology and transform our advertising business

By prioritising investment for growth in our five core markets, we can reduce complexity and execute much faster."

Disclaimer

Adevinta ASA published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 19:22:02 UTC.


© Publicnow 2022
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Sales 2022 1 644 M 1 719 M 1 719 M
Net income 2022 175 M 183 M 183 M
Net Debt 2022 2 081 M 2 175 M 2 175 M
P/E ratio 2022 46,6x
Yield 2022 0,17%
Capitalization 8 382 M 8 762 M 8 762 M
EV / Sales 2022 6,36x
EV / Sales 2023 5,39x
Nbr of Employees 8 100
Free-Float 13,0%
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Number of Analysts 22
Last Close Price 71,15 NOK
Average target price 99,68 NOK
Spread / Average Target 40,1%
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Managers and Directors
Rolv Erik Ryssdal Chief Executive Officer
Uvashni Raman Chief Financial Officer
Orla Noonan Chairman
Alex Alexander Chief Product & Technology Officer
Sophie Constance Javary Independent Director
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