MUNICH (dpa-AFX) - Strict cost control and the acquisition of the Sprengnetter Group are paying off for Internet portal operator Scout24 . In the third quarter, the MDax company significantly increased revenue and adjusted operating profit, as it announced in Munich on Thursday. "The organizational adjustments we implemented at the beginning of the year are having an effect," said Group CEO Tobias Hartmann, according to the statement. The board had already adjusted its annual targets the previous evening.

Accordingly, the Group's net profit for the three months to the end of September rose by 15.7 percent year-on-year to just under 133 million euros. This was mainly due to the proceeds from the acquisition of real estate data specialist Sprengnetter. Excluding the acquisition (organic), the increase was significantly lower. Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) showed a much stronger increase. Due to the reduced involvement of external service providers and improved cost management, operating profit increased by 22.1 percent to 78.1 million euros. Even excluding the Sprengnetter effect, the increase amounted to almost one fifth. With these results, Scout24 exceeded the average analysts' estimates.

The Internet portal operator Scout24 now expects somewhat better results this year. Admittedly, sales are now expected to increase by around 14 percent, one percentage point less than previously expected. In day-to-day business, however, Scout24 should earn more: Adjusted operating earnings (Ebitda) are expected to increase by 19 to 21 percent. Previously, the management had expected growth of 18 to 19 percent. The plus was due to "efficiency measures in various business areas," it said./ngu/stk