Baltic Classifieds Group Reports Strong First Half Year as a Public Company

The online classifieds operator Baltic Classifieds operator Baltic Classifieds Group has released its first set of half yearly results since its summer IPO on the London Stock Exchange. Highlights of the company's operations for the six months ended 31st of October include:

• Each of the group's portal sites increased traffic and traffic lead over their closest competitors
• Highest ever half yearly revenue (up 24% to €25.0 million) for all four business units fueled by price increases in some segments
• Real estate segment revenue up 20% year-on-year
• Adjusted EBITDA up 23% to €19.6 million

BCG Half Yearly Performance

BCG owns and operates leading online classifieds titles in the Baltic countries as well as several jobs portals in the Balkans. BCG owns the leading real estate verticals in all three Baltic countries:

Lithuania - Aruodas.lt

Estonia - City24.ee and KV.ee

Latvia - City24.lv

While operating costs were considerably inflated by the company's IPO (€8.8m) the BCG's CEO Justinas Šimkus was very pleased with how operations are progressing:

“The last six months have been the busiest and the most successful in BCG’s history. I am incredibly proud of all of the employees who have achieved the best performance ever despite living through a Pandemic and whilst the company was simultaneously focused on achieving our premium listing on the London Stock Exchange. The period has also seen strong audience numbers to our sites, and record numbers of automotive dealers and job advertisers utilising our products and services.

We implemented successful pricing and package changes across all of our business units, in C2C at the beginning of the period and in B2C at the end. This provides us with confidence both for our full year performance and our momentum moving into the next financial year. I am delighted that BCG has become a public company and that the IPO has allowed us to make all of our employees shareholders of the company. The team’s motivation is higher than ever as we focus on continuing to deliver outstanding products and services to our customers.”

Unlike fellow regional classifieds players Hemnet and Cian that have both floated on the public market this year, BCG's share price has faired well since its IPO and is currently sitting at GBX 220 - over 10% above its float price.