Swiss Marketplace Group (SMG) reported an 11.3% year-over-year increase in first-half 2026 revenue to CHF 179.8 million, driven by growth across its real estate, automotive and general marketplace segments. Adjusted EBITDA rose 15.8% to CHF 101.5 million, expanding the margin to 56.5% from 54.3% in the prior-year period, the company said in a presentation on August 25, 2026.
The real estate segment, which accounts for 49% of total revenue, grew 11.5% to CHF 88.5 million, with adjusted EBITDA margin widening 3.2 percentage points to 62.9%. Agent count rose to 4,027, the first net increase in three years, while average revenue per agent increased 5.4% to CHF 2,098. The automotive segment, contributing 28% of revenue, posted a 12.2% year-over-year rise to CHF 50.3 million, with adjusted EBITDA margin expanding 0.9 points to 68.4%. The general marketplace segment, representing 23% of revenue, saw gross merchandise value climb 13.0% to CHF 309 million, with adjusted EBITDA margin improving 2.5 points to 48.8%.
SMG’s leverage ratio stood at 0.7 times last-twelve-month adjusted EBITDA, while adjusted operating expenses rose modestly to CHF 91 million but declined as a percentage of revenue to 50.9% from 54.6%. Personnel expenses increased by CHF 0.5 million to CHF 57 million, representing 31.7% of revenue compared with 35.0% a year earlier. Capital expenditure as a percentage of revenue fell to 7.8% from 10.2%.
The company narrowed its full-year 2026 revenue growth guidance to 11–12% from a prior range of 10–12%, while maintaining its adjusted EBITDA margin target of 56–58%. Capital expenditure guidance was improved to 7.5–8.5% of revenue from 8–9%. SMG expects mid-single-digit growth in the second half for its Ricardo platform, with the automotive market remaining soft in the near term and real estate poised for continued net agent growth.
SMG also outlined progress in its AI strategy, with conversational search deployed across its platforms and tools such as AI Studio for automotive dealers and automated staging tools for real estate. Large language model traffic remains below 1% of total visits, the company noted.
Shares of SMG rose 7.99% to CHF 32.45 following the presentation. EPS more than doubled to CHF 0.57 from CHF 0.29 in the first half of 2025.
