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Scout24 Takes a Steps Towards DAX Upgrade: Strong Q2 Performance and Raised Guidance
Scout24, the operator of the ImmoScout24 platform, is one step closer to being upgraded to the prestigious DAX index, following its impressive Q2 2025 results and raised full-year guidance.
In the second quarter, Scout24 reported a 15.1% increase in group revenue, reaching €160.6 million. The company's adjusted group profit also rose significantly by around 22%, amounting to €62.6 million. Operating EBITDA increased by 17% to €101.7 million.
These robust figures have led to an upgrade of Scout24's full-year guidance. The company now expects revenue growth of 14-15% and an EBITDA margin improvement of up to 70 basis points.
Analysts at JPMorgan have praised Scout24 for its strong customer base and margins, maintaining it as a top segment player with a target price notably above current levels (~€140 compared to trading near €116 after profit-taking). Berenberg, another financial institution, maintains a "Buy" rating for Scout24.
The potential upgrade to the DAX would significantly increase Scout24's visibility among international investors, potentially attracting more institutional investors and index fund inflows that track the DAX. This inclusion often leads to enhanced liquidity and could contribute to upward pressure on the share price due to index-related demand.
For Scout24, being part of the flagship German stock index highlights its market relevance beyond just the digital real estate segment, reinforcing its reputation and investor confidence amid uncertainties in real estate markets.
The inclusion of Scout24, along with GEA and Lufthansa, in the DAX is expected to take effect on September 22. However, it is important to note that short-term volatility around the announcement and quarterly disclosures has been observed.
The potential exit of Porsche AG from the DAX illustrates a shift reflecting changes in the German economy, highlighting rising sectors like digital platforms versus traditional automotive industry challenges. This upgrade of Scout24 to the DAX index signifies a major positive development for the company and investors, marking a strategic milestone signaling growth confidence for Scout24 and offering investors enhanced liquidity and recognition.
[1] Reuters
[2] Bloomberg
[3] JPMorgan Research
[4] Berenberg Research
- Scout24's robust financial performance and potential DAX upgrade could attract technology-focused investors, as the company's digital real estate platform leverages current trends in technology and business.
- With the expected DAX inclusion, Scout24 may gain an advantage in attracting finance for future investing opportunities, thereby strengthening its position in the competitive world of online business.
