PropertyGuru Group Limited (NYSE:PGRU) Q1 2024 Earnings Conference Call May 21, 2024 7:30 AM ET

Company Participants

Jeremy Williams - Managing Director, Marketplaces
Joe Dische - Chief Financial Officer
Nat Otis - Vice President, Investor Relations

Conference Call Participants

Nick Jones - JMP
Fawne Jiang - Benchmark
Nelson Cheung - Citi

Operator

Thank you for standing by and welcome to the PropertyGuru Group First Quarter 2024 Earnings Conference Call. Currently all participants are in a listen-only mode. As a reminder, today's program will be recorded. If anyone objects, please disconnect now.

Now, let me introduce Nat Otis, Vice President of Investor Relations. Mr. Otis. Please go ahead.

Nat Otis

Good morning and good evening. Welcome to PropertyGuru Group's First Quarter 2024 Earnings Conference Call. On the call today are Jeremy Williams, Managing Director of our Flagship Business Marketplaces; and Joe Dische, CFO. Before we get started, a few reminders.

Firstly, our results are available in the earnings release that can be found in the Investors section of our website. Secondly, today's webcast is being recorded. A replay and transcript will be available in the Investors section of our website.

Thirdly, we will be making forward-looking statements, including but not limited to statements regarding our future results and expectations for the business. These statements are neither promises nor guarantees and involve risks and uncertainties that may cause actual results to vary materially. Please refer to our earnings release and SEC filings for more information regarding risk factors. Forward-looking statements are based on current expectations, and the company is not obliged to update them, except as required by law.

Fourthly, this call will also contain non-IFRS financial measures. For a reconciliation of non-IFRS financial measures to the most directly comparable IFRS metric, please our earnings press release. Lastly, all dollar references are in Singapore dollars unless otherwise stated.

With that, let me turn the call over to Jeremy.

Jeremy Williams

Thanks very much Nat. Thank you for joining us for our First Quarter 2024 Earnings Conference Call. I've been the Managing Director of PropertyGuru’s Marketplaces business for the past six years and it's great to be part of today's call. PropertyGuru recently marked its two-year anniversary of being a publicly listed company, and we thought this would be a good opportunity for me to update everyone on our continued progress. Now, to the quarter.

We started 2024 with another solid quarter of double digit revenue growth and double digit adjusted EBITDA margin, demonstrating our business model strength and operating leverage. Amongst highlights, our Singapore performance illustrated the value proposition we deliver to our customers, even during a period of slower market activity. We also saw some early signs of property market recovery in Vietnam and Malaysia