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Saturday / December 14.

Norway’s Adevinta says French digital tax to impact earnings

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OSLO (Reuters) – Online advertising group Adevinta said the newly introduced digital tax in France lacked clarity, but would likely impact the Norwegian company’s earnings as it posted second-quarter earnings roughly in line with expectations.

Adevinta is the owner of France’s leading online platform for buyers and sellers, leboncoin.fr. [nL8N23D12G]

Quarterly earnings before interest, tax, depreciation and amortization (EBITDA) surged 20% to 50 million euros ($56.35 million), excluding joint ventures and associated business, roughly in line with 49 million euros expected by four analysts in a Refinitiv poll.

Revenue, excluding joint ventures and associated business, rose 13% from 2018 to 185 million euros, compared with seven analysts’ forecast of 166.7 million euros.

Reporting by Gwladys Fouche and Victoria Klesty, Editing by Sherry Jacob-Phillips

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via Reuters