Spanish media group Vocento reported mixed performance for its classifieds division in 2024, with revenue up 6.4% year-on-year to €29.8 million, but EBITDA down 5% to €6.1 million. The EBITDA margin for the segment dipped to 20.5%.
Vocento says its Classifieds division underperformance was impacted by disappointing results for real estate portal Pisos.com. Pisos.com struggled in what the company described as a “more challenging market environment.” Vocento said the downturn in the property sector weighed on classifieds EBITDA, even as other segments like Premium Leads showed growth in performance-based services.
The company confirmed last week that it had agreed to sell Pisos.com to Italy-based Immobiliare.it, for €22.5 million in cash. Ahead of the deal, Pisos.com CEO Francisco Delgado has also exited the business.
Immobiliare.it has been expanding its European footprint and the deal marks a deeper entry into the Spanish real estate portal market, where it already owns Indomio.es and Enalquiler.com.
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