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Frontier Digital Ventures Limited (ASX:FDV)

ALERT: Price-sensitive ASX Announcement for FDV
Current share price for FDV : $0.290 -0.05 (-14.71%)+
Announcement
Release
23 Sep 2026 9:22AM
Price at Release
$0.340
Full Release
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Summary
Frontier Digital Ventures Limited’s 1H FY2026 Results Presentation outlines the performance of its online classifieds marketplaces across LATAM, Morocco and Asia, with the group continuing to prioritise core high-margin classifieds, margin expansion and disciplined M&A. For the half year ended 30 June 2026, statutory revenue fell 27% to US$14.4 million due mainly to the deliberate termination of non-core, low-margin and loss-making revenue lines and businesses, while statutory EBITDA rose 18% to US$2.4 million and EBITDA including associates increased 13% to US$3.6 million, lifting the statutory EBITDA margin to 17% from 10% a year earlier; cash at bank increased to US$8.1 million and free cashflow rose to US$2.3 million with 98% conversion. LATAM revenue declined 35% to US$9.6 million but EBITDA improved 37% to US$3.1 million as the mix shifted toward classifieds, which made up 91% of regional revenue, with Fincaraíz, InfoCasas and Yapo showing stronger margins and cashflow despite mixed customer trends, while Encuentra24 was affected by lower event-related activity. Morocco revenue was broadly flat at US$3.2 million and EBITDA increased 63% to US$0.6 million, supported by Avito Group where classifieds revenue and ARPU improved, though Tayara in Tunisia remained weak and was flagged for restructuring. Asia revenue fell 5% to US$1.6 million and EBITDA decreased 35% to US$96,000, with growth in LankaPropertyWeb and iMyanmarHouse offset by weaker AutoDeal performance and currency headwinds in the Philippines and Sri Lanka. FDV also highlighted progress against its ‘North Star’ goals of expanding EBITDA margins above 40%, increasing take rate from currently below 1%, and generating meaningful cash, while associates Zameen and PakWheels in Pakistan delivered 8% revenue growth to US$5.1 million and 5% EBITDA growth to US$1.2 million on FDV’s proportionate share basis; overall net profit after tax was US$2.5 million, with other significant items including a US$1.28 million Tayara goodwill impairment.
Key Points
  • 1H FY2026 statutory revenue was US$14.4 million, down 27% year on year due to the exit of non-core, low-margin and loss-making revenue lines.
  • Statutory EBITDA increased 18% to US$2.4 million and EBITDA including associates rose 13% to US$3.6 million.
  • Statutory EBITDA margin improved to 17% from 10% in 1H FY2025.
  • Cash balance at 30 June 2026 was US$8.1 million, up 33%, and free cashflow conversion reached 98%.
  • FDV changed its presentational currency to USD effective 1 January 2026.
  • LATAM revenue fell 35% to US$9.6 million, but EBITDA increased 37% to US$3.1 million as classifieds became 91% of regional revenue.
  • Fincaraíz delivered US$3.7 million revenue, US$1.4 million EBITDA and US$1.1 million free cashflow, with stronger ARPU across customer segments.
  • InfoCasas revenue declined to US$1.4 million after strategic changes, but EBITDA rose to US$0.5 million and free cashflow improved to US$0.4 million.
  • Encuentra24 revenue fell 30% to US$3.0 million and EBITDA decreased 15% to US$0.9 million, partly reflecting weaker event-related activity.
  • Yapo revenue fell 43% to US$1.4 million, while EBITDA rose 28% to US$0.3 million and free cashflow turned positive.
  • Morocco revenue was stable at US$3.2 million and EBITDA increased 63% to US$0.6 million.
  • Avito Group revenue increased 2% to US$3.1 million and EBITDA rose 96% to US$0.7 million, supported by classifieds growth and higher ARPU.
  • Tayara revenue declined 46% and FDV flagged cost restructuring to bring the business to EBITDA breakeven.
  • Asia revenue decreased 5% to US$1.6 million and EBITDA fell 35% to US$96,000, mainly due to weaker AutoDeal performance and currency weakness.
  • Pakistan associates Zameen and PakWheels contributed US$5.1 million revenue and US$1.2 million EBITDA on FDV’s proportionate share basis.
  • Net profit after tax was US$2.5 million, with other significant items including a US$1.28 million goodwill impairment in Tayara.
  • FDV’s strategic priorities remain core business focus, margin expansion through pricing and cost control, and accretive bolt-on M&A.
  • The group reported little change in take rate in 1H FY2026, noting substantial future revenue upside from price optimisation.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.