Scout24 stock trades above Xetra close after strong Q3 growth

Scout24 reported strong third-quarter growth on Wednesday, November 4, and narrowed its full-year revenue outlook. The company said group revenue rose 19.7% year over year to 198.2 million euros, while organic growth excluding the Spanish business reached 10.1%.

Management now expects 2026 revenue growth of about 18%, including a 7 to 8 percentage-point contribution from Spain. The previous outlook called for growth of 16% to 18%, with a 6 to 7 percentage-point contribution from the Spanish business. Scout24 maintained its ordinary operating EBITDA margin target of up to 61%, or up to 64% on an organic basis.

Subscriptions support operating momentum

The Professional segment grew 23.3% to 146.7 million euros, supported by 11.5% growth in German subscription revenue and 3.9% customer growth. Private revenue increased 10.5% to 51.6 million euros, while subscription revenue in the segment accelerated 10.4%.

Ordinary operating EBITDA rose 15.9% to 120.8 million euros, and adjusted earnings per share increased 21.5% to 1.09 euros. Scout24 said temporarily higher marketing expenses and increased impairment losses on receivables moderated organic margin expansion in the quarter, but it expects a stronger organic margin increase in the fourth quarter.

AI-powered products, higher-value memberships and ecosystem services are central to the company's monetisation strategy. More than 10,000 professional customers used ImmoPoints in September, with usage up more than 40% year over year, according to the company's latest report.

Share price remains below November peak

Scout24 stock traded at 89.23 euros on Lang & Schwarz at 18:02 CET on Friday, November 6, 0.20% above the Xetra close of Friday, November 6, at 89.05 euros. The real-time quote of Scout24 stock gives investors the latest listing.

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Scout24 will publish preliminary full-year and fourth-quarter results on February 25, 2027. More news and analyses on Scout24 stock will track the next reporting milestone.