Scout24 stock slips below Xetra close as Q3 outlook holds

Scout24 stock traded at 90.68 euros on Lang & Schwarz at 18:22 CET on Wednesday, November 11, 2026, 0.19 percent below the Xetra close of Wednesday, November 11. The comparison uses the 90.85-euro Xetra closing price. The latest quote adds a fresh market reference after Scout24's third-quarter update and tighter full-year outlook, reported by AD HOC NEWS.

Strong quarter supports tighter guidance

Scout24 reported third-quarter revenue of 198.2 million euros, up 19.7 percent from the prior-year quarter. Organic growth excluding the Spanish business reached 10.1 percent, while revenue for the first nine months rose 17.9 percent to 570.5 million euros.

The professional segment remained the main growth engine, with revenue increasing 23.3 percent to 146.7 million euros. Private-segment revenue rose 10.5 percent to 51.6 million euros, supported by 10.4 percent growth in subscription revenue.

Profitability and AI remain key drivers

Ordinary operating EBITDA increased 15.9 percent to 120.8 million euros. The reported margin was 60.9 percent and the organic margin reached 63.3 percent. Higher marketing costs and impairment losses on receivables moderated quarterly margin expansion, while management expects stronger organic margin expansion in the fourth quarter.

Adjusted earnings per share rose 21.5 percent to 1.09 euros. Basic earnings per share declined 26.5 percent to 1.03 euros because the year-earlier quarter benefited from a one-off positive tax effect. Scout24 also highlighted its Agentic OS strategy, higher-value memberships and expanding use of AI-supported products.

Investors await the next update

Scout24 now expects full-year revenue growth of about 18 percent, compared with its previous range of 16 to 18 percent. The expected contribution from Spain increased to 7 to 8 percentage points from 6 to 7 percentage points. The ordinary operating EBITDA margin target remains up to 61 percent on a reported basis and up to 64 percent organically.

The preliminary fourth-quarter and full-year 2026 results are scheduled for February 25, 2027. Investors will focus on subscription growth, Spanish integration, AI product adoption and the expected fourth-quarter margin improvement.

German equities trade against the backdrop of the DAX.

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