from the CEO

“Our proven resilient business models
allow us to deliver solid financial performance with high margins
and healthy cash generation.

We have experienced teams who are motivated to deliver our success,
including exceptional product/
technology and sales professionals.”

Antoine Jouteau
CEO Adevinta​

Adevinta performed well against its strategic and financial objectives in 2022 despite tough macroeconomic conditions.

We also progressed our goal to streamline our organisation
and create more value for our users and professional clients.

We saw growth in our core markets accelerate, continued to optimise our cost base, and achieved strong cash generation and debt reduction. We increased monetisation of our Mobility and Real Estate verticals and continued to scale our transactional services.

In advertising, we invested in first-party products to reduce reliance on third-party solutions in order to preserve revenue and adapt to the ongoing market evolution. Operationally, we made steady progress in the integration of eBay Classifieds Group, following completion of the acquisition in 2021.

We also announced a new executive leadership team following a review of our operating structure to align with our Growing at Scale strategy. By year end, our portfolio optimisation programme was close to completion with divestments finalised in Australia, Belarus, Mexico and South Africa.

Strong financial performance

Adevinta reported a strong 2022 financial performance despite market headwinds and delivered on all its key financial targets.

Revenue growth was 10%2 for core markets, and total revenues were up 8%2 year-on-year at €1,644 million euros. This was mainly a result of strong performance in all three verticals in online classifieds and the continued strong ramp-up of transactional services.

Group Underlying EBITDA, which corresponds to EBITDA before charges related to share-based compensation, reached €579 million, in line with the full-year guidance, despite the negative impact of the French Digital Services Tax.

Group EBITDA increased by 7%2 to €548 million, representing a 33.3% margin. Cash flow generation1 in the period was €437 million.

1 Net cash flow from operating activities adjusted for CAPEX and IFRS 16 lease payments. Numbers are presented on a combined basis, reflecting the results of Adevinta as if the eBayClassifieds Group (acquired on 25 June 2021) had been part of the group during the full periods presented

2 With 2021 on a combined basis

Driving the Re-Commerce transition

The rise of the second-hand economy

Verticalisation of our operations

Putting people at the center

Human-centred technology