• Group revenue for FY2025 increased 14.1% year-over-year to CHF 332.0 million

• Group Adjusted EBITDA^[1] for FY2025 increased 29.4% year-over-year to CHF 180.2 million, with the Adjusted EBITDA margin up by 6.4 percentage points to 54.3%

• The Board of Directors proposes a dividend of CHF 0.82 per share

• For 2026, SMG expects revenue growth of 10–12% and an Adjusted EBITDA margin of 56–58%

• Mid‑term guidance communicated at IPO confirmed: Revenue growth in the low 10% range and Adjusted EBITDA margins in the low‑to‑mid‑60% range

• SMG is advancing its AI-driven product development, including new AI-based features that improve discovery, listing creation and trust and safety

• SMG proposes to elect Patricia Lobinger as a new member of the Board of Directors; Malte Krüger will not stand for re-election

SMG Swiss Marketplace Group delivered record financial results in 2025, achieving strong top-line growth and significant profitability gains across all core business segments. Group revenue rose 14.1% year-over-year to CHF 332.0 million. Profitability reached a new high, with Adjusted EBITDA increasing 29.4% to CHF 180.2 million and the Adjusted EBITDA margin reaching 54.3%. Further financial highlights include lower Capex intensity and a cash conversion rate^[2] of 81.2%. This performance reflects resilient demand, continuous enhancements to customer value propositions and improved monetisation paired with strong operating leverage enabled by the scalability of SMG’s business model.

In line with SMG’s strong financial performance, the Board of Directors will propose a dividend of CHF 0.82 per dividend-eligible share (in total CHF 80.5 million, thereof 50% distributed as a repayment of capital contribution reserves without deduction of Swiss withholding tax and 50% distributed from other capital reserves) for 2025 at the Annual General Meeting on 21 April 2026.

Looking ahead, SMG reaffirmed its outlook expecting 10–12% revenue growth for 2026, with Adjusted EBITDA margins progressing toward 56–58%. Management also reconfirmed the mid‑term targets communicated at IPO, projecting revenue growth in the low‑10% range and Adjusted EBITDA margins expanding into the low‑to‑mid‑60% range. This guidance reflects SMG’s confidence that its AI-focused investment strategy, product roadmap and growing operational leverage will drive consistent value creation.

Christoph Tonini, CEO of SMG Swiss Marketplace Group, commented: “Our priority is clear: deliver tangible value for users and customers. In 2025, we strengthened our marketplaces and improved the experience for users and professional customers. We are scaling AI to simplify workflows, automate routine tasks and help agents, dealers and sellers reach the right buyers faster. This is how we turn innovation into everyday impact for our customers.”

Key Figures Full Year 2025

AI Innovation and Product Roadmap

As part of its innovation roadmap, SMG is accelerating the deployment of AI capabilities across its marketplaces. AI is already implemented across key customer journeys, with live features improving search, listing creation and trust and safety. Looking ahead, SMG’s product pipeline includes conversational search, virtual staging and an integrated ImmoScout24 app in ChatGPT scheduled for launch in the second half of 2026. In addition, SMG is investing in agentic AI capabilities designed to support customers with automated workflows, smarter recommendations and enhanced decision‑support tools. These initiatives are designed to improve efficiency for real estate agents, car dealers and secondhand sellers and buyers, strengthen SMG’s competitive position and unlock further potential for automation and productivity at scale.

Business Highlights

Real Estate

The Real Estate business unit (with its main brands ImmoScout24, Homegate, Flatfox, CASASOFT, IAZI) delivered another year of strong growth, with revenues up 12.5% to CHF 164.1 million and Adjusted EBITDA increasing by 30.6% to CHF 98.9 million, driven by continued value extension, which led to average revenue per agent (ARPA) increasing by 14.7%. The agent base expanded to 4,008 agencies by the end of December 2025, demonstrating the positive impact of the flexible hybrid subscription model, which improved acquisition and retention among smaller inventory agents.

Other Classifieds revenue grew as well, fueled by strong pay-per-ad performance, increased revenue per listing and the continued expansion of seeker products, which surpassed 25,000 active subscribers by year-end.

The Real Estate business unit continued to enhance agent productivity and accelerate AI‑driven innovation across its platforms, while also introducing new capabilities such as the AI‑powered Insights Hub, which recommends next‑best actions to agents, and CasaLead, a comprehensive suite designed to streamline mandate acquisition.

Automotive

The Automotive business unit (AutoScout24, MotoScout24) remained SMG’s fastest-growing business, with revenues increasing 16.4% to CHF 81.7 million and Adjusted EBITDA rising 26.2% to CHF 54.3 million. Growth was driven by a 15.8% increase in average monthly revenue per dealer (ARPD), reflecting strong monetisation from enhanced dealer-efficiency tools that enable faster listing creation and more informed pricing decisions. A 1.2% increase in the average monthly number of dealers, reaching 6,777, highlights the strong demand and favourable market conditions for SMG’s Automotive solutions.

Private-lister revenues also expanded, given longer-duration listing packages and an improved pricing funnel leading to growing revenue per listing, while AutoScout24 Direct, enabling private sellers to auction vehicles directly to dealers, scaled further, reinforcing SMG’s position within the Swiss automotive ecosystem.

General Marketplaces

The business unit General Marketplaces (Ricardo, tutti.ch, anibis.ch) also delivered strong 2025 results, with revenue rising to CHF 75.7 million, an increase of 15.8% year-over-year (9.1% like-for-like). Growth was fueled by a 5.3% increase in Gross Merchandise Value (GMV) to CHF 560 million and a higher take rate of 9.2%, supported by continued adoption of the MoneyGuard buyer protection option.

Ricardo sustained high user engagement throughout the year, with increased traffic and a growing seller base, enabled, among other things, by its AI-powered listing assistance. Revenue momentum accelerated in the second half of 2025, supported by key strategic initiatives including cross-platform integration and targeted shipping promotions. The platform’s trust and safety foundation was further strengthened through the deployment of AI-based fraud detection algorithms, resulting in a significant reduction in reported fraud cases.

Classifieds revenue also achieved double-digit growth, primarily driven by the introduction of paywalls across selected categories, including vehicles.

Other

Other, which comprises the Finance & Insurance business unit (FinanceScout24, moneyland.ch) as well as the Group’s Central Services, recorded 9.3% growth, reaching CHF 11.6 million, with car insurance growing given the continued collaboration and strong synergies with AutoScout24.

Adjusted EBITDA decreased year-over-year and amounted to CHF -8.2 million, mainly reflecting higher costs in the Group’s Central Services related to strengthening financial compliance and reporting processes, and higher governance-related expenditures associated with the IPO.

Change in the Board of Directors

Board of Directors member Malte Krüger will not be available for re-election at the Annual General Meeting 2026. Following the successful IPO, he will focus on other projects. Patricia Lobinger is set to strengthen the SMG Board of Directors and will be proposed for election at the next Annual General Meeting. She was CFO and interim CEO of mobile.de and has long-standing industry experience.

SMG thanks Malte Krüger for his important contribution to the development of the company since its foundation and for his support of the IPO as a member of the Board of Directors.

^[1] Adjusted earnings before interest, tax, depreciation and amortisation (Adjusted EBITDA) is defined as profit / (loss) after tax excluding income tax, financial expense, financial income, depreciation, amortisation and impairment and adjustments related to non-recurring items.

^[2] Defined as Adjusted EBITDA less Capex in relation to Adjusted EBITDA

^[3] Group Total incl. intra-group eliminations of CHF 1,122 thousand, related to revenue only