Malaysia-based marketplace specialist Frontier Digital Ventures (FDV) posted record operating EBITDA (earnings before interest, taxes, depreciation and amortization) from its two business units — 360 LatAm, Mena Marketplaces Group (MMG) — and significant profit growth in FDV Asia during Q3 of 2023 (July to September).  

The high business profitability comes in the backdrop of a slight 2% decline in the group’s revenue from A$21.4 million in Q3 2022 to A$20.9 million ($13.3 million U.S.) in Q3 2023, according to the company’s financial reporting.  

Although the group’s EBITDA was marginally down to A$2.2 ($1.4 million U.S.) during the quarter under review from A$2.3 million in the previous corresponding period, EBITDA of 360 LatAm soared to A$1.2 million from A$851,521 and that of MMG grew manifold to A$728,381 from A$72,556. EBITDA of FDV Asia turned positive at A$247,968 compared to negative A$120,584.

After downbeat performance for a year, real estate marketplace Zameen.com, having a strong market position in Pakistan, recorded improvements in both revenue and transaction volume during the third quarter compared to preceding quarter of 2023. It remained EBITDA positive while continuing investment in marketing campaigns and initiatives to drive traffic and leads. 

“For the fifth consecutive quarter, each of the geographical regions achieved positive operating cashflows. Importantly for our shareholders, FDV Group achieved our third consecutive quarter of positive operating cashflows, which include our holding company costs,” said FDV founder and CEO Shaun Di Gregorio.

“In the first half of 2023, we worked hard — in what were challenging economic conditions — to ensure all the geographic regions were operating sustainably. This quarter’s EBITDA results demonstrate the enhanced earnings profile of the regions, in particular for MMG. We have achieved stronger growth than we have all year across 360 LatAm, MMG and FDV Asia, and have seen improvements from Zameen in Pakistan. We are focused on building on this momentum into the final quarter of year and beyond.”

Founded in 2014, FDV is structured across three geographic regions.   

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