Adevinta ASA (ADE) – Adevinta reports strong Q1 financial performance in soft macro environment

  • Strong EU51 revenue growth: +12% year-on-year
  • Total revenues at €480m, up 11%2 year-on-year
  • Total EBITDA of €165m, up 14% year-on-year and EBITDA margin of 34.4%
  • Strong cash flow generation and continued deleveraging

Oslo, 28 May 2024 –
Adevinta ASA (ADE) (“Adevinta” or “the Company”) reported strong group revenue growth of 11% in the first quarter of 2024 compared to the same period last year. This excludes the impact of the Hungarian business divestment in Q3 2023.

EU5 Markets revenues reached €449 million in the quarter, representing a strong 12% growth, despite the soft macroeconomic environment:

  • Online classifieds revenues improved by 16%, supported by continued strong double-digit revenue growth in Mobility, driven by strong double-digit performance in all markets. Real Estate posted a solid performance in the period, driven by Kleinanzeigen and France. Jobs’ performance was back to growth;
  • Transactional revenues grew by 31% year-on-year, with strong revenue growth in all markets;
  • Advertising revenues were down 6% year-on-year, as a result of an overall weaker advertising market.

Gross operating profit (reported EBITDA) amounted to 165 million euro, up 14% year-on-year, representing a 34.4% margin, up 1 percentage point year-on-year, driven by the strong revenue growth in the period.

This was partly offset by (i) higher marketing costs, driven by a low comparative base in the previous year and by additional investments in key markets, particularly Kleinanzeigen, and France, (ii) higher IT expenses, due to changes in accounting treatment, (iii) higher direct costs from transactional services, in line with the adoption of the service and revenue growth, and (iv) a €(2)m charge on share-based compensation and personnel costs as a result of the voluntary offer.

Antoine Jouteau, CEO Adevinta, comments: 

“Adevinta’s strong start to the year has been underpinned by solid operational and financial performance. We have continued the successful execution of our Growing at Scale strategy while our sector expertise, product innovation and robust financials have established a firm foundation for the year ahead. Overall, Adevinta remains a high-performing business with a strong financial foundation and profitable business model. Our strategic growth pillars – Mobility, Real Estate and transactional businesses – continue to be the key drivers of this successful growth story. I would like to thank our employees whose ability, ambition and commitment continue to position Adevinta as a leading online classifieds platform and champion for sustainable commerce.”

Highlights of Q1 2024

Strong Q1 2024 results performance in a soft macro environment

Strong revenue growth in EU51 markets: +12% year-on-year

  • Double digit growth in Classifieds (+16%), with double digit growth in Mobility (+22%) and solid growth in Real Estate (+7%). Jobs back to growth
  • Consumer Goods transaction revenues growth up +31% yoy, with strong performance in Kleinanzeigen, Benelux and Italy
  • Advertising revenues down 6% yoy

Total consolidated revenues at €480m, up 11%2 year-on-year

Reported EBITDA margin of 34.4%, up 1pp year-on-year, despite higher investment in marketing, a €(2)m charge as a result of the voluntary offer, and business mix evolution

Total consolidated EBITDA of €165m, up 14% year-on-year

Strong cash flow generation and continued deleveraging

  • Adjusted NCF from operating activities3 of €106m in the quarter
  • Debt repayment: €50m in the quarter, prioritising floating debt

Continued successful execution of our Growing at Scale strategy

Platform convergence project progressing well and according to plan

Continued focus on operational excellence, with:

  • Increased monetisation in key verticals along with product innovation 
  • Continued robust scaling of transactional services
  • Continued financial discipline

Long-term ambition for EU5 Markets confirmed

  • 2023-2026 annual revenue growth between 11% and 15%
  • 2026 EBITDA margin: 40-45%

Aurelia Bidco Norway AS offer

Fulfilment of Regulatory Approvals Condition announced on April 24

Settlement of the Offer expected on May 29

1 EU5 markets correspond to Germany, France, Spain, Benelux and Italy
2 Excluding Hungary
Net cash flow from operating activities adjusted for CAPEX and IFRS 16 lease payments

Financial performance

€ million 2024 2023 yoy %
Operating revenues 480 435 10%
EBITDA 165 145 14%
EBITDA margin 34.4% 33.4%  
Operating revenues per segment      
France 148 132 12% 108 90 20%
European Markets 203 187 8%
International Markets 20 23 -13%
Other and Headquarters 2 4 -52%
Eliminations 0 -1 100%
EBITDA per segment      
France 65 56 15% 67 51 32%
European Markets 75 75 0%
International Markets 8 11 -25%
Other and Headquarters -49 -47 4%
Non-consolidated JVs      
Proportionate share of revenues 29 27 7%
Proportionate share of EBITDA 6 9 -29%

Operating revenues by category

€ million 2024 2023 yoy %1
Online classifieds revenues 376 331 15%
Transactional revenues 33 25 31%
Advertising revenues 70 76 -7%
Other revenues 2 4 -49%
Operating revenues 480 435 11%

 1Excluding Hungary


Contact information:

IR contacts
Marie de Scorbiac
VP Investor Relations, Corporate Affairs, Group FP&A, Sustainability
+33 6 14 65 77 40

Anne-Sophie Jugean
Investor Relations Senior Manager
+33 6 74 19 22 81

Media contacts
Vaishali Lakhanpal
Head of Corporate Communications 

John Kiely – Edelman Smithfield
+44 7785 275 665 

About Adevinta 

Adevinta is a leading online classifieds group and champion for sustainable commerce with a focus on Europe. 

Our portfolio of 25+ digital marketplaces spans consumer goods, mobility, real estate, holiday rentals and jobs. Every month, our industry-leading technology enables more than 120 million people and over a million businesses across Europe to connect and trade. Loved local brands include leboncoin in France; and Kleinanzeigen in Germany; Fotocasa and InfoJobs in Spain, Subito in Italy; Marktplaats in Benelux and the Canadian marketplace Kijiji. 

Our international team of diverse individuals are united in their purpose to make a positive impact on the environment, the economy and society every single day. 

Adevinta – Changing commerce together.

To find out more, visit 


This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act