Scout 24 AG, the operator of the residential and commercial real estate digital marketplace ImmoScout24, announced preliminary full-year financial reports, with revenue growth of 1.2% year-on-year to 353.8 million euros in 2020, compared to 349.7 million euros in 2019.
The company quickly answered the issues that the COVID-19 crisis caused and launched a comprehensive immediate action program for customers already at the end of March. In 2020, Scout24 AG made an acquisition of immoverkauf24, and they made the largest advertising campaign in the company’s history.
Through the ongoing enhancement of our digital product offering, we are progressing well with the development towards a comprehensive market network, thereby further expanding our addressable markets. This is also reflected in our diversified revenue mix, where consumer subscriptions and mandate leads are increasingly replacing revenues from private listings and 3rd party display. At the same time, we are thinking beyond the financials. As part of our 2020 strategy, we are making Scout24 an even more sustainable digital company with an enhanced impact on society and climate,” said Tobias Hartmann, CEO of Scout24 AG in a statement.
Scout 24 has three business segments. The Residential Real Estate segment proved to be the most resilient to the COVID-19 crisis, with revenue growth of 3.5% from 244.9 million euros to 253.4 million euros.
The Business Real Estate segment recorded a slight decrease in revenues of 0.7%, from 69.6 million euros in 2019 to 69.1 million euros in 2020. Revenues in the Media & Other segment decreased by 12.1%, from 35.3 million euros in 2019 to 31 million euros in 2020.
In 2021, Scout24 AG expects growth in the mid to high single-digit percentage range for the Residential Real Estate segment, slight growth for the Business Real Estate segment, and declining to flat revenues in the Media & Other segment, said Dirk Schmelzer, CFO of Scout24 AG.