Adevinta ASA (ADE) - Adevinta reports a solid start to the year, with strong financial performance in Q1

By Globe Newswire9 days ago

  • Total revenues1 up 6% at 200m
  • EBITDA1 up 33% yoy to 57m
  • Successful delivery of product roadmap
  • Further progress ahead of the eBay Classifieds Group acquisition

- Adevinta ASA (ADE) (Adevinta or the Company) reported a solid start to 2021 with revenues1 up 6% compared to the same period last year, or up 7% excluding impacts of disposal, acquisitions and forex, demonstrating further performance improvement despite the challenging environment.

Online classifieds revenues improved 8% (of which 5% is attributable to transactional services) compared to Q1 2020, when the Group saw strong performance until the Covid crisis started.

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Display advertising revenues increased 2% year-on-year. Disposals in Global Markets and the Grupo Zap acquisition had a 1-point positive impact on revenue growth, whilst changes in exchange rate contributed negatively with 1.7 points.

Gross operating profit (EBITDA) including JVs increased 33% compared to Q1 2020. Revenue growth in the verticals, a lower level of one-off costs and favorable phasing of marketing expenses offset the ramp-up in personnel costs and transactional services.

Rolv Erik Ryssdal, CEO, commented:

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