German firm Scout24 buys Spanish digital real estate platforms
Scout24, a leading digital classifieds platform, has announced plans to acquire Fotocasa and Habitaclia, two prominent property platforms in Spain. However, it's important to note that the projections for their revenue and EBITDA are based on a pro-forma basis, not confirmed facts.
According to the projections, Fotocasa and Habitaclia are expected to generate around 60 million euros in revenue and have an EBITDA of approximately 11 million euros by 2025. These platforms currently boast combined monthly active users exceeding eight million. They also have approximately one million property listings and around 14,000 commercial customers.
The financial investor EQT is the seller in this unspecified transaction. Scout24 plans to finance the acquisition through cash and existing credit facilities. The current management of Fotocasa and Habitaclia will remain on board, ensuring local expertise continuity, as both companies were founded in 1999 (Fotocasa) and 2001 (Habitaclia).
The regulatory authorities need to approve the acquisition, and Scout24 expects the completion of the transaction within the next six months. It's worth noting that the exact nature of the transaction has not been disclosed at this time.
The ongoing share buyback program and the capital allocation of Scout24 remain unchanged. The identity of the buyer, EQT, has been previously disclosed.
It's important to reiterate that the projections for Fotocasa and Habitaclia's revenue and EBITDA are statements, not confirmed facts. The transaction for the acquisition of Fotocasa and Habitaclia by Scout24 has not been confirmed yet.
Once the acquisition is complete, Fotocasa and Habitaclia will continue to operate under their established brand names. This strategic move is expected to strengthen Scout24's position in the European property market.
