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1. Company Snapshot

1.a. Company Description

Adevinta ASA owns and operates online classifieds sites.The company's products and services include generalist classifieds, specialist real estate, motors, and jobs sites.It operates various online classifieds sites under the Adverts.ie, Agriaffaires, A Vendre a Louer, Autónavigátor.hu, Automobile.it, Autotrader, carsguide, coches.net, daft.ie, 2dehands/2ememain, DoneDeal, eBay Kleinanzeigen, Fotocasa, Grupo Zap, Groupe Argus, Gumtree, Habitaclia, Használtautó.hu, InfoJobs, Jófógás, Kufar, Kijiji, leboncoin, leboncoin hotel, Locasun, MachineryZone, Marktplaats, Milanuncios, mobile.de, motos.net, OLX Brasil, Paycar, Segundamano, subito, Truckscorner, Vide Dressing, vivanuncios, Willhaben, L'Argus, and Pilgo brands.


The company was incorporated in 2018 and is based in Oslo, Norway.

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1.b. Last Insights on ADE

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1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Boards Dither Over Buyout Bids in $40 Billion Takeover Wave

Nov -24

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UPDATE 2-Blackstone and Permira lead $13 bln bid for Adevinta

Nov -21

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Blackstone and Permira lead $13 billion bid for Adevinta

Nov -21

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Adevinta shares soar 21% on possible Blackstone-Permira bid

Sep -21

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UPDATE 1-Adevinta confirms acquisition proposal from Blackstone-Permira consortium

Sep -21

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.29%)

6. Segments

Classified

Expected Growth: 10%

Adevinta ASA's 10% growth is driven by increasing online classifieds adoption, rising e-commerce penetration, and growing demand for digital marketplaces. Additionally, strategic acquisitions, expansion into new markets, and investments in AI-powered matching technology are contributing to the company's growth momentum.

Advertising

Expected Growth: 12%

Adevinta ASA's 12% advertising growth is driven by increasing online classifieds adoption, rising e-commerce penetration, and growing demand for digital marketing solutions. Additionally, the company's strategic acquisitions, improved user experience, and enhanced product offerings have contributed to its growth momentum.

Transactional

Expected Growth: 9%

Adevinta ASA's 9% transactional growth is driven by increasing online classifieds adoption, expansion into new markets, and strategic acquisitions. Additionally, the company's focus on improving user experience, investing in AI-powered matching technology, and growing its presence in high-growth markets such as Latin America and Asia also contribute to its growth momentum.

Lease Contracts, Services Provided to Sold Companies and Others

Expected Growth: 11%

Adevinta ASA's 11% growth is driven by increasing adoption of online marketplaces, rising demand for digital services, and strategic acquisitions. Lease contracts benefit from growing e-commerce and logistics needs. Services provided to sold companies leverage Adevinta's expertise in online classifieds, while others segment growth is fueled by expansion into new markets and diversification of revenue streams.

7. Detailed Products

Marketplaces

Adevinta ASA operates online marketplaces that connect buyers and sellers across various categories such as general merchandise, vehicles, and real estate.

Digital Advertising

Adevinta ASA offers digital advertising solutions to businesses, enabling them to reach their target audience across its marketplaces and websites.

Payment Services

Adevinta ASA provides payment services, facilitating transactions between buyers and sellers on its marketplaces.

Data Analytics

Adevinta ASA offers data analytics services, providing insights and market intelligence to businesses and individuals.

E-commerce Enablement

Adevinta ASA enables e-commerce capabilities for businesses, allowing them to sell their products directly to consumers.

8. Adevinta ASA's Porter Forces

Forces Ranking

Threat Of Substitutes

Adevinta ASA operates in the online classifieds industry, where substitutes are readily available. However, the company's strong brand recognition and diversified revenue streams mitigate the threat of substitutes.

Bargaining Power Of Customers

Adevinta ASA's customers are primarily individuals and small businesses, which have limited bargaining power. The company's strong market position and diversified revenue streams also reduce the bargaining power of customers.

Bargaining Power Of Suppliers

Adevinta ASA's suppliers are primarily technology and infrastructure providers, which have limited bargaining power. The company's strong market position and diversified revenue streams also reduce the bargaining power of suppliers.

Threat Of New Entrants

The online classifieds industry has relatively low barriers to entry, but Adevinta ASA's strong brand recognition, diversified revenue streams, and established market position make it challenging for new entrants to gain significant market share.

Intensity Of Rivalry

The online classifieds industry is highly competitive, with several established players competing for market share. Adevinta ASA faces intense competition from companies like eBay, Craigslist, and Facebook Marketplace, which can lead to pricing pressure and reduced market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 18.18%
Debt Cost 3.95%
Equity Weight 81.82%
Equity Cost 7.44%
WACC 6.80%
Leverage 22.22%

11. Quality Control: Adevinta ASA passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Freenet

A-Score: 6.3/10

Value: 6.6

Growth: 3.2

Quality: 7.5

Yield: 9.4

Momentum: 4.0

Volatility: 7.0

1-Year Total Return ->

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Stock-Card
SES

A-Score: 6.1/10

Value: 8.6

Growth: 2.1

Quality: 3.2

Yield: 10.0

Momentum: 10.0

Volatility: 2.7

1-Year Total Return ->

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Stock-Card
Rightmove

A-Score: 5.6/10

Value: 1.4

Growth: 6.0

Quality: 9.9

Yield: 2.5

Momentum: 6.0

Volatility: 8.0

1-Year Total Return ->

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Stock-Card
Auto Trader

A-Score: 5.1/10

Value: 1.4

Growth: 6.7

Quality: 9.6

Yield: 1.9

Momentum: 2.5

Volatility: 8.3

1-Year Total Return ->

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Stock-Card
Hemnet

A-Score: 4.0/10

Value: 0.7

Growth: 9.4

Quality: 9.0

Yield: 0.6

Momentum: 0.5

Volatility: 3.7

1-Year Total Return ->

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Stock-Card
Adevinta

A-Score: 3.4/10

Value: 3.9

Growth: 6.1

Quality: 3.6

Yield: 0.0

Momentum: 4.0

Volatility: 2.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

114.2$

Current Price

114.2$

Potential

-0.00%

Expected Cash-Flows