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Baltic Classifieds lifts profit 40% despite Estonian car market decline
July 03, 2025 12:16 PM IST | By EODHD
Investing.com -- Baltic Classifieds Group Plc (LON:BCG) on Thursday reported a 40% increase in operating profit to €53.5 million for the year ended April 30, as growth across its core classifieds segments offset a sharp downturn in Estonia’s auto market. Revenue rose 15% to €82.8 million, up from €72.1 million in 2024, the company said ina stock exchange filing. EBITDA climbed 17% to €64.4 million, with a margin of 78%, up from 77%. Adjusted net income rose 21% to €54.4 million, while profit for the year reached €44.8 million. Classifieds in Real Estate, Auto, Jobs & Services, and Generalist accounted for 90% of total revenue. Real Estate grew 23% to €22.2 million, Auto rose 14% to €31.4 million, Jobs & Services increased 15% to €16 million, and Generalist added 5% to €13.2 million. B2C revenue, representing 51% of total revenue, rose 17%. C2C revenue, making up 39%, grew 13%. Ancillary revenue rose 17% to €4.4 million, while advertising revenue grew 5% to €3.9 million. A vehicle registration tax introduced in Estonia in January 2025 led to a drop in used car transactions, down more than 40% year-on-year. This reduced group revenue by 3–4% in March and April. The number of listed Auto ads declined 5%, and average revenue per vehicle for business clients fell 11%, though average used car prices rose 3%. Price and packaging changes contributed to yield increases across all segments. Revenue per listed ad rose 21% in Auto, 22% in Real Estate, and 17% in Generalist. Services revenue per active ad rose 14%. In B2C, average monthly revenue per user increased 15% in Auto to €333, 20% in Real Estate to €217, and 12% in Jobs to €461. Business customer counts remained stable or grew, including a 4% rise in real estate brokers to 5,109 and a 1% increase in Jobs clients to 2,301. Active C2C ad volumes grew 4% in Auto to 35,207, 12% in Real Estate to 22,404, 8% in Services to 9,207, and 3% in Generalist to 595,038. Monthly traffic across all sites averaged 57 million visits. Baltic Classifieds completed the acquisition of Untu.lt, a Lithuanian automated property valuation tool, for €1 million. The company also repurchased €13.5 million in shares and reduced net debt to €3.6 million from €27.5 million after a €25 million voluntary loan repayment. Leverage dropped to 0.1x from 0.5x. Cash flow from operations rose 13% to €66.8 million, maintaining a 99% conversion rate. A final dividend of 2.6 € cents per share was proposed, raising the full-year total to 3.8 € cents, up from 3.1 € cents in 2024. The company expects revenue growth in 2026 to match 2025, with stronger performance in the second half. Growth is forecast in Real Estate, Jobs, Services and the Lithuanian Auto segment, while Estonian Auto is not expected to recover to year-on-year growth.