12/05/2021: Q1 2021 Quarterly Statement

Focus on what matters

Quarterly

Statement

Q1 2021

Contents

Overview	3
Quarterly development	4
Key figures at a glance	5
Business development	6
Operating performance of the Group	7
Operating performance of the segments	10
Overall assessment and outlook	12
Further financial information	13
Consolidated statement of profit or loss	14
Consolidated statement of financial position	16
Consolidated statement of cash flows	17
Publication details	18

Disclaimer

Scout24 AG as the parent entity and its direct and indirect subsidiaries together form the Scout24 Group. Insofar as information in the following statement refers exclusively to Scout24 AG, express reference is made to the Company ("Scout24 AG") accordingly. The terms "Scout24 Group", "Scout24", "Scout24 Group" refer to the Group as a whole.

All information contained in this document has been carefully prepared. However, no reliance may be placed for any purposes whatsoever on the information contained in this document or on its completeness. No representation or warranty, express or implied, is given by or on behalf of the Company or any of its directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in this document and no liability whatsoever is accepted by the Company or any of its directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith.

This document may contain forward-looking statements regarding the business, results of operations, financial condition and earnings outlook of the Scout24 Group. These statements may be identified by words such as "may", "will", "expect", "anticipate", "contemplate", "intend", "plan", "believe", "continue" and "estimate" and variations of such words or similar expressions. Such forward-looking statements are based on the current assessments, expectations, assumptions and information of Scout24's Management Board. They are subject to a large number of known and unknown risks and uncertainties and there is no guarantee that the anticipated results and developments will actually materialise. In fact, actual results and developments may differ materially from those reflected in the forward-looking statements. Differences may be due to changes in the general macroeconomic and competitive environment, capital market risks, exchange rate fluctuations, changes in international and national laws and regulations, including but not limited to tax laws and regulations, relevant for Scout24, and many other factors. Scout24 undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise, unless expressly required to do so by law.

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. Alternative performance measures used by Scout24 are defined at the corresponding place in the report. The special items used to calculate some alternative performance measures arise from the integration of acquired businesses, restructuring measures, impairment losses, gains or losses on sale resulting from divestitures and the sale of shareholdings, and other expenses and income that generally do not arise in conjunction with Scout24's ordinary business activities.

Due to rounding, numbers presented throughout this report may not add up precisely to the totals indicated, and percentages may not precisely reflect the absolute figures for the same reason.

The quarterly figures contained in this release were neither audited in accordance with §317 HGB nor reviewed by an auditor.

Scout24 _ Quarterly Statement Q1 2021

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Overview

Overview | Quarterly development

Quarterly development

Scout24 Group revenues grew by 5.2% against a strong prior-year quarter, which was largely unaffected by the pandemic. This revenue development was mainly driven by the growth products (Consumer Plus-products and Realtor Lead Engine) within the Residential Real Estate business, while private listing revenues declined due to free-to-list. The resulting change in revenue mix reflects the consistent implementation of our ecosystem strategy, i.e., the development of ImmoScout24 into a comprehensive market network. The Business Real Estate revenues decreased due to the pandemic, and revenues in the Media & Other segment were also weaker year-on-year. This revenue structure combined with a stable ordinary operating EBITDA resulted in a lower margin of 58.7%. This is partly related to the ongoing Covid-19 situation and partly to our growth investments and dis-synergies. For the full year, the Executive Board is raising its revenue outlook due to the good first quarter with a margin expectation of up to 60%.

KEY FIGURES GROUP

EUR million		Q1 2021		Q1 2020		Change
Group revenues		93.8		89.1		+5.2%
Ordinary operating EBITDA			55.1		55.1		-0.1%
Ordinary operating EBITDA margin		58.7%	61.8%		-3.1pp

Important events during the quarter

• Proposed dividend of EUR 68.5 million at the upper end of the dividend policy. With publication of the Annual Report 2020 on 25 March 2021.
• Announced public share repurchase offer with a volume of almost EUR 1 billion.
  Announcement on 30 March 2021, start of acceptance period on 1 April 2021, settlement on 23 April 2021.
• Successfully continued migration into agent membership editions. Around 66% migration rate at end of quarter.
• High-growthmandate acquisition product for real estate agents in use with immoverkauf24. 94.8% Realtor Lead Engine (including immoverkauf24) revenue growth in the first quarter.
• Free-to-listrevenue decline more than offset by consumer Plus-products for the first time. Net growth in Residential Real Estate Consumer revenues of 2.5%; Plus-products+28.0%.
• Business Real Estate segment still affected by Corona pandemic.
  Q1 revenue down 3.8%.
• Customer growth continued.
  Residential Real Estate Partners +4.8%, Business Real Estate Partners +2.0%.
• Greenhouse gas metrics (Scope 1 - 3) and detailed diversity data published for the first time. With publication of the Sustainability Report 2020 on 25 March 2021.

Subsequent events after 31 March 2021

• Successfully completed public repurchase offer with high acceptance rate of around 82%. Buyback volume: 11,400,875 shares or EUR 794.2 million (capital reduction on 28 April 2021).
• Acquired Vermietet.de, a leading CRM platform for private landlords and property managers. Investment provides significant time head start in product development.

Scout24 _ Quarterly Statement Q1 2021

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Overview | Key figures at a glance

Key figures at a glance

FINANCIAL PERFORMANCE INDICATORS

EUR million		Q1 20211		Q1 20201		Change
Group revenue		93.8		89.1		+5.2%
Ordinary operating EBITDA2		55.1		55.1		-0.1%
(including group functions/consolidation/other)
Ordinary operating EBITDA margin3 in %		58.7%	61.8%		-3.1pp
EBITDA		52.3		52.6		-0.6%
Earnings per share (basic, continuing operations)		0.25		0.25		+0.0%
External revenue of ImmoScout24		93.7		89.1		+5.1%
of which Residential Real Estate segment		68.8		63.4		+8.5%
of which with residential real estate partners		48.2		43.3		+11.3%
of which with consumers		20.6		20.1		+2.5%
of which Business Real Estate segment		17.2		17.9		-3.8%
of which Media & Other segment		7.6		7.8		-1.8%
Ordinary operating EBITDA2		57.4		57.5		-0.2%
(without group functions/consolidation/other)
of which Residential Real Estate segment		42.5	41.2	+3.0%
of which Business Real Estate segment		12.4		13.2		-6.1%
of which Media & Other segment		2.6		3.1		-17.4%
Ordinary operating EBITDA margin3 in %		61.3%		64.6%		-3.3pp
of which Residential Real Estate segment		61.7%		65.0%		-3.3pp
of which Business Real Estate segment		71.9%		73.6%		-1.7pp
of which Media & Other segment		33.6%		39.9%		-6.3pp
Own work capitalised		5.6		5.4		+4.1%
Own work capitalised as % of revenue		6.0%		6.0%		+0.0pp

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2

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The figures presented in this table refer only to the continuing operations of the Scout24 Group.

Ordinary operating EBITDA refers to EBITDA adjusted for non-operating effects, which mainly include expenses for share-based payments, M&A activities (realised and unrealised), reorganisation and other non-operating effects.

The ordinary operating EBITDA margin of a segment is defined as ordinary operating EBITDA as a percentage of external segment revenue.

NON-FINANCIAL PERFORMANCE INDICATORS

ImmoScout24.de listings4

ImmoScout24.de monthly users (million)5

ImmoScout24.de monthly sessions (million)6

	Q1 20211		Q1 20201		Change
	391,479		408,152		-4.1%
	-		14.7		-
	107.7		105.8		+1.8%

1. Source: ImmoScout24.de; listings in Germany (average as of the end of the month)
2. Due to a change of provider, no data is available for the quarter under review; the reported figure for the previous year represents the monthly unique visitors to ImmoScout24.de (average of the individual months), irrespective of how often they visit the marketplace in a month and irrespective of how many different access points (desktop and mobile) they use; source: AGOF e. V.
3. Number of all monthly visits (average of the individual months) in which individual users interact with the website or app via a device; a visit is considered completed if the user is inactive for 30 minutes or more; source: internal measurement using Google Analytics.

Scout24 _ Quarterly Statement Q1 2021

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