BERLIN (dpa-AFX) - Online real estate marketplace Scout24 is raising its annual forecasts following the acquisition of the Sprengnetter Group. Sales are now expected to grow by 15 percent this year instead of 12 percent, the MDax-listed company announced surprisingly on Sunday evening in Berlin. Operating earnings before interest, taxes, depreciation and amortization (adjusted Ebitda), adjusted for special items, are now expected to increase by 18 to 19 percent. Previously, management had forecast an increase of 13 percent.

The news was well received on the stock market. On Monday morning, the share price rose by up to around nine percent to 63.32 euros. The stock was not quite able to maintain this level, but with a recent gain of just over six percent, it was still one of the biggest price gainers in the MDax. Since the turn of the year, the share price has risen by a good third.

Scout24 explained the increase in its revenue forecast with strong demand and the acquisition of the Sprengnetter Group on July 1. The acquired company offers real estate data and valuations in Germany. Scout24 justified the stronger increase in its adjusted operating profit forecast by citing efficiency measures and the assumption that revenue growth will continue with a positive product mix in the second half of the year.

In the second quarter, the strong demand for Scout24's marketing and Plus products continued despite a difficult environment, the company said. Based on preliminary figures, the company expects revenues of just under 244 million euros for the first half of the year, which is a good 12 percent more than a year earlier on an organic basis. Adjusted operating profit (Ebitda) is expected to have risen by a good 21 percent on an organic basis to 146.5 million euros.

According to analyst Giles Thorne of Jefferies, operating profit exceeded the consensus estimate by 11 percent. Sales, on the other hand, were as expected. The company plans to publish its final figures as scheduled on Tuesday (August 8)./stw/mne/jcf/zb