- Agreement to acquire eBay Classifieds Group
- Improving trends confirmed
- EBITDA margin exceptionally high, driven by cost saving initiatives, delayed expenses and positive one-offs
- Significant strategic developments in the current portfolio
- Strengthened financial position
- Unprecedented-scale pure player in online classifieds with leading market positions
- Combination of best-in-class assets and expertise
- High synergy extraction potential with estimated €134-165m impact on EBITDA in year
- Further recovery in operational KPIs
- Total revenues1 up 1.6%
- Positive organic growth in France (+8%) and Brazil (+4%)
- Online classifieds revenues1 increased 5%
- Display advertising revenue1 decreased 4%
- Margin1 up 120bps yoy
- Improving margins in Brazil and Global Markets
- Lower HQ and other costs
- Final CADE approval received for Grupo Zap acquisition
- Further optimisation of Global Markets portfolio
- Refinancing of Adevinta’s debt completed ahead of acquisitions
- Attractive financing conditions obtained
- Strong rating profile
Third quarter | (€ million) | YTD | ||||
yoy% | 2019 | 2020 | 2020 | 2019 | yoy% | |
2% | 180.3 | 183.3 | Operating revenues incl. JVs | 527.0 | 539.3 | -2% |
6% | 54.1 | 57.1 | EBITDA incl. JVs | 142.2 | 153.7 | -7% |
30% | 31% | EBITDA margin incl. JVs | 27% | 28% | ||
Operating revenues - segments | ||||||
17% | 85.7 | 100.1 | France | 283.6 | 255.9 | 11% |
-7% | 45.3 | 41.9 | Spain | 121.3 | 135.1 | -10% |
-27% | 22.0 | 16.0 | Brazil | 48.8 | 62.8 | -22% |
-9% | 40.9 | 37.1 | Global Markets | 106.4 | 122.1 | -13% |
EBITDA - segments | ||||||
4% | 48.3 | 50.2 | France | 138.0 | 141.6 | -3% |
-7% | 16.0 | 14.8 | Spain | 39.4 | 44.2 | -11% |
11% | 3.4 | 3.8 | Brazil | 10.8 | 1.2 | >100 % |
-1% | 6.5 | 6.4 | Global Markets | 9.9 | 14.5 | -32% |
Cash flow | ||||||
-8% | 36.8 | 33.8 | Net cash flow from operating activities | 89.8 | 107.7 | -17% |