OLX Brazil, the country’s No. 1 horizontal site, saw its revenues soar in FY2016, year-on-year, Schibsted said this week, after announcing it rose its stake in OLX Brazil from 25 to 50 percent. In Chile, Schibsted increased its stake in Yapo.cl from 50 to 100 percent.

Schibsted said revenues at OLX Brazil reached BRL 99 million ($31.5 million) in FY2016, 120 percent up, year-on-year.

It is the first time Schibsted publicly releases OLX Brazil’s revenue figures, a clear indicative the site has reached maturity and is closer to profitability.

Schibsted said the positive trend in terms of profitability development in Brazil is expected to continue in 2017, and the aim is to reach profitability for OLX Brazil during 2017.

“During 2016, OLX Brazil successfully introduced monetization of the professional content in both cars and real estate. The growth momentum is strong, and in Q1 2017, the revenue growth rate accelerated further. Continued high growth is expected,” Schibsted noted.

Commenting its Q1 results, Schibsted noted the investment level (EBITDA loss) in OLX.com.br in Brazil is “materially reduced compared to Q1 2016.”

“This is due to both reduced marketing spending and a revenue growth close to 160 percent in Q1 compared to Q1 2016.”


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