Sparks

Baltic Classifieds Group continues to trade very strongly, with internal improvements to pricing and packages driving yields and average revenue per user, helped further by improving conditions in the underlying markets. In the group’s first half (to end-October) Real Estate was the star performer, with revenues ahead by 26% and the largest revenue generator, Auto, up 17%. With the Jobs and Services divisons also increasing revenues by 17%, it was only the smaller Generalist category that failed to sparkle.

With the improved configuration, Baltic Classifieds Group has expanded its EBITDA margin further to 79% (from 78% previously) and continues to convert its profits into cash efficiently. This is allowing the group to repay debt, run a substantial share buyback programme and pay an increasing dividend.

With trading conditions into the second half continuing to be favourable, Baltic Classifieds Group is guiding H2 revenue growth of 15% and a 1% margin expansion over FY24.