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BALTIC CLASSIFIEDS GROUP PLC HALF YEAR RESULTS FOR THE SIX MONTHS ENDED 31 OCTOBER 2021 Baltic Classifieds Group PLC ( " BCG " and the " Group " ) , the leading online classifieds group in the Baltics , announces half year results for the six months ended 31 October 2021 ( H1 2022 ) ● Strategic overview Highest ever six - monthly revenue in all four business units , exceeding expectations at the time of the Initial Public Offering ( " IPO " ) . ● BCG ● BALTIC CLASSIFIEDS GROUP ● ● Compared to pre - COVID , traffic to our sites was at record level . Each of our leading sites increased its audience lead over the closest competitor . At the start of the period reported on , we increased the yield from C2C ads across all four of our business units . Financial highlights Organic revenue grew 24 % to € 25.0 million ( H1 2021 : € 20.4 million of which € 0.2 million from divested business ) driven by a solid performance in Autos ( + 10 % organic / + 7 % reported growth ) , Real Estate ( + 20 % ) and Generalist ( + 11 % ) and more than doubling in Jobs & Services ( + 113 % ) . Reported revenue grew 22 % . Improvements to our products and packages for B2C customers towards the end of the half supported price increases in our Autos , Real Estate and Jobs & Services business lines and will contribute to revenue in the second half of the year . On 5 July 2021 , BCG became a public company with a premium listing on the London Stock Exchange Main Market . Subsequently , on 20 September 2021 the Group joined the FTSE 250 . Operating costs in H1 2022 were inflated by € 8.8 million of costs arising from the IPO ( € 5.6 million paid fees , € 1.9 million fees and related taxes to be paid and € 1.4 million free share awards ) . This resulted in operating profit for the period of € 2.4 million ( H1 2021 : € 7.4 million ) . Adjusted EBITDA¹ was up 23 % to € 19.6 million ( H1 2021 : € 16.0 million ) . Adjusted EBITDA margin² maintained at 78.4 % ( H1 2021 : 78.3 % ) . Cash conversion³ maintained at 99 % ( H1 2021 : 100 % ) . Cash was up 36 % to € 20.9 million on the basis of cash generated from operations prior to IPO fees payments ( € 5.6 million paid fees relate to H1 2022 and € 0.1 million relate to FY21 ) . Reported cash generated from operations was maintained at € 15.2 million ( H1 2021 : € 15.4 million ) . Net debt4 fell by € 121.6 million at IPO to € 77.8 million ( end FY21 : € 199.4 million ) with leverage5 at 2.1x ( end FY21 : 6.0x ) . Intention to propose first dividend payment at full year results in July 2022 . 1