Fourth-quarter revenue at Adevinta ASA (ADE:OSL) rose 9% to €472.0 million with online classifieds fuelling growth. Online classified revenue was up 14% to €354 million despite the jobs category being down slightly year over year in the company’s EU5 market, according to the company.

Adevinta, which ranks as the world’s ninth-largest online jobs advertising platform, reported earnings on 28 February. The company’s classified revenue primarily comes from advertising jobs, homes, cars and consumer goods.

Adevinta is in the process of being taken private with an acquisition by Aurelia Bidco Norway AS, which is set to wrap up in this quarter, subject to regulatory approvals and clearances.

Looking just at Adevinta’s EU5 market — France, Germany, Spain, Italy and Benelux — revenue rose 12% year over year in the fourth quarter.

Adevinta also noted an impairment loss of €147 million in the fourth quarter of 2023, of which €146 million is related to Canada. The loss is being allocated to the trademark as a result of increased competition in the Canadian classifieds market and negative impacts from the roll-out of a new mobile application in 2023.

Adevinta is based in Oslo, Norway. Major shareholders are media company Schibsted, eBay and private equity firm Permira.

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Share price

Shares in Adevinta closed down 0.35% on Friday in Norway to NOK 113.0 (€9.84); they were 1.74% below their 52-week high.