REA Group has reported a revenue increase of 4 per cent year-on-year, reaching $429 million for the September quarter. Earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding associates, also saw a rise of 5 per cent to $254 million. These results were largely driven by robust yield growth within the Australian market.
Australian revenue totalled $405 million, marking a 6 per cent increase compared to the previous year, despite experiencing slightly lower listing volumes compared to record levels seen last year. This growth was fuelled by a 13 per cent increase in residential buy revenue, attributed to Premiere+ pricing and adoption of add-on products. REA Group also saw revenue contributions from rent, commercial, and new homes sectors. REA Group operates realestate.com.au, a leading Australian property website, and provides property-related services and information. It connects buyers, sellers, and renters with real estate agents and properties.
REA Group reported record audience engagement on its realestate.com.au platform, with 12.6 million monthly visitors and a 19 per cent increase in buyer enquiries. However, REA India experienced a revenue decrease of 20 per cent year-on-year, reflecting the exit from Housing Edge and a reduction in PropTiger revenues.
Looking ahead, REA Group, which is majority owned by News Corp, anticipates national listing volumes to remain broadly consistent with the prior year. The company is targeting double-digit residential yield growth, alongside mid-single-digit increases in Australian operating costs, aiming for positive operating leverage. EBITDA losses in India are projected to be between $40 to 45 million, while contributions from associates are expected to improve modestly.
