DB Media & Online #what's appening: IOS-UTDI-Stroeer/Q1, Scout24/ CMD, DHER/Talabat, BMY, UMG, INF

研报英文原文证据摘录

DB Media & Online #what's appening: IOS-UTDI-Stroeer/Q1, Scout24/ CMD, DHER/Talabat, BMY, UMG, INF

Deutsche Bank

Research

Europe Industry Date

Germany 12 May 2026

Netherlands DB Media & Online

United Kingdom Periodical

#what's appening

Media and Online

IOS-UTDI-Stroeer/Q1, Scout24/ CMD,

DHER/Talabat, BMY, UMG, INF

Silvia Cuneo

Newsflow, overnight research, valuation comps - if you'd like to discuss any of the

Research Analyst

following in more detail or require models, please get in touch with Gareth, Nizla, +44-20-754-73770

Steve or Annabel. Our contact details are listed in the right-hand margin

Nizla Naizer

IONOS Group SE (Nizla Naizer): Q1-26 first take: Decent Q1 beat, 2026 outlook +44-20-754-12403

reconfirmed

Decent Q1 results with a modest beat on consensus; '26 outlook reiterated Gareth Davies

Q1 group revenue was 1% ahead of consensus driven by the attractive Web Research Analyst

Presence and Productivity segment, adj. EBITDA was ~2% ahead of consensus; +44-20-754-11560

guidance reiterated which calls for attractive yoy margin expansion, consensus is Steve Liechti

already there but we expect the strong customer additions in Q1 should be taken Research Analyst

with some relief. +44-20-7541-1549

Annabel Hames

n Financials : Q1 revenue of EUR348.4m, up ~5.7% yoy (~1%/2% ahead of Research Analyst

DBe and company-compiled consensus at EUR342/344m). Within that, +44-20-754-11574

high-margin Web Presence and Productivity revenue was up ~6% yoy to

EUR291m (~1%/2% above DBe/cons.) while Cloud Solutions was up ~7% Tarun Mittal

yoy with revenue of EUR48m (vs. DBe EUR49m/cons. EUR48m). Research Associate

Encouragingly, overall growth was driven by an impressive step-up in

customers with group net adds of ~180k in Q1 (cons: ~116k) vs. ~80k net Shrishti Shubham