Global marketplaces operator Adevinta reported that revenues for OLX-Brazil in Q2 this year rose 148% year-on-year. Revenue growth for OLX-Brazil includes the results of Grupo Zap.

Adevinta said total operating revenues for Q2 2021 in Brazil, including those of OLX-Brazil and InfoJobs Brazil, rose 124% year-on-year to €30 million ($35.3 million U.S.). However, the group reported negative earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 3 million in Q2 2021. The decrease in revenue was in part due to a  €14 million increase in OLX-Brazil’s management long-term incentive.

Despite the declining EBITDA, the EBITDA margin in Q2 2021 rose to 34.1%, up from a negative EBITDA margin of 11.4% in Q2 2020.

Source: Adevinta Q2 2021 Trading Update Presentation

Source: Adevinta Q2 2021 Trading Update Presentation

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