Summary for the period January-March 2024 - Net sales increased by 33.3 percent to
SEK 253.4m (190.1) - EBITDA increased 37.3 percent to
SEK 119.7m (87.2) - Operating profit increased 45.2 percent to
SEK 98.9m (68.1) - ARPL, average revenue per published listing, increased 32.5 percent to
SEK 4,911 (3,706)
Jan-Mar | Last twelve months | FY | |||
(SEK million, unless stated otherwise) | 2024 | 2023 | Change | ending | 2023 |
Net sales | 253.4 | 190.1 | 33.3% | 1,068.0 | 1,004.7 |
Adjusted EBITDA* | 119.7 | 87.2 | 37.3% | 558.0 | 525.5 |
Adjusted EBITDA-margin*, % | 47.2% | 45.9% | 1.3 pp | 52.2% | 52.3% |
Operating profit* | 98.9 | 68.1 | 45.2% | 479.0 | 448.2 |
Net profit for the period | 72.4 | 50.7 | 42.8% | 360.4 | 338.7 |
Earnings per share, basic, SEK1 | 0.75 | 0.51 | 46.2% | 3.71 | 3.48 |
Earnings per share, diluted, SEK1 | 0.75 | 0.51 | 45.7% | 3.71 | 3.48 |
Cash flow from operating activities | 90.5 | 73.7 | 22.8% | 412.7 | 395.9 |
* Alternative Performance Measure, see pages 15-17 for derivation and definitions.
1 The calculation of dilution of shares is made based on the number of days that the warrant programmes that have been active during each respective period.
Chief Executive's Comments
Revenue from property sellers increased by 49.1 percent, and ARPL increased by 32.5 percent. Sales of Hemnet Premium continued to increase and the growing demand led to a more than doubled conversion compared to the same period last year. In addition, the number of published listings increased 11 percent as a result of increased confidence in the housing market.
Real estate agents are
Many of our B2B customers, especially property developers, continue to be impacted by market uncertainties.This is reflected in lower sales of our display advertising products. The decline in revenue was partially offset by continued demand and revenue growth from our
During the quarter we have continued to improve the consumer experience on
With 40 million monthly visits,
CEO
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In connection with the report, a presentation of the results will be held at 10.00 CET by
The presentation can be viewed live via the link below. Written questions can be posted via the webcast.
https://ir.financialhearings.com/hemnet-q1-report-2024
If you wish to participate via teleconference please register on the link below. After registration you will be provided with phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference, or via the chat function in the webcast.
https://conference.financialhearings.com/teleconference/?id=50048618
The report and presentation material will be available on hemnetgroup.com.
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For more information, please contact:
Press enquiries
M: +46 733 67 66 85
E: staffan.tell@hemnet.se
Jessica Sjöberg, Chief Communication and Brand Officer
M: +46 730689933
E: jessica.sjoberg@hemnet.se
IR enquiries
Anders Örnulf, CFO
M: +46 72 732 10 12
E: anders.ornulf@hemnet.se
M: +46 76 145 21 78
E: nick.lundvall@hemnet.se
This is information that
About
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https://news.cision.com/hemnet/r/hemnet-group-interim-report-q1-2024,c3965624
https://mb.cision.com/Main/19340/3965624/2750792.pdf
https://news.cision.com/hemnet/i/cecilia-beck-friis--ceo-hemnet,c3292162
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