Adevinta ASA (ADE) - Adevinta reports full year 2023 results with strong Q4 financial performance in soft macro environment

Adevinta ASA ADE has reported its full year 2023 results with strong Q4 financial performance in a soft macro environment. Despite market headwinds and higher share-based compensation, the company was able to achieve all of its full year 2023 targets.

In terms of revenue growth, the EU51 markets saw an increase of 14% compared to the previous year. Additionally, Group EBITDA increased by 19% year over year to €651m. This strong financial performance can be attributed to the continued successful execution of the company's strategy.

One notable achievement in 2023 was the eCG acquisition synergy target of €130m, which was successfully achieved. Additionally, a new vertical organization was launched from January 1st, further enhancing the company's capabilities and position in the market.

Overall, Adevinta ASA ADE's strong Q4 financial performance and successful execution of its strategy demonstrate the company's resilience and adaptability in the face of challenging market conditions.