Baltic Classifieds Group

Baltic Classifieds Group Dividend Analysis and Summary

• Type and amount: Interim dividend of 1.3 € cents per share (+8% YoY vs 1.2 €c)
• Ex-dividend date: 11/12/2025
• Record date: 12/12/2025
• Payment date: 23/01/2026
• Currency: EUR (GBP optional; currency election deadline 02/01/2026)
• Cash cost: ~€6.2m
• Policy: Return approximately one third of adjusted net income annually via interim (~1/3) and final (~2/3) dividends
• Context: FY2025 total dividend was 3.8 € cents (1.2 €c interim + 2.6 €c final)

• Earnings support: H1 2026 adjusted net income €30.1m (+9% YoY); interim payout ~21% of H1 adjusted net income, consistent with a modest interim ahead of a larger final.
• Cash generation: €35.7m cash from operations (+4%); 99% cash conversion; period-end net cash €5.1m after repaying €10m of debt, paying the FY2025 final dividend (€12.5m), and buybacks (€6.4m).
• Profitability: EBITDA €35.2m, margin 78% maintained. Guidance for sustained mid-70s margins despite continued data/AI investment.
• Growth trajectory: Interim DPS up 8%, tracking H1 adjusted EPS growth (+10%). Management expects H2 growth to exceed H1 and to accelerate into double digits for FY2027.
• Capital returns balance: Ongoing preference to return “meaningfully all excess cash,” with at least one third via dividends and remainder via buybacks—supportive of per-share dividend growth.