23.4.2026 18:44:27 CEST | Vend Marketplaces ASA | Inside information
Vend Marketplaces ASA ("Vend" or the "Company") provides a trading update on the
revenue outlook for its Mobility segment and preliminary financial results for
the first quarter of 2026.
Based on current market trends, the Company does not expect Mobility to achieve
revenue growth in line with its medium-term target range of 12-17% in 2026.
First quarter 2026 preliminary financial results
(NOKm) | Revenues | YoY Change* | EBITDA | YoY Change | EBITDA margin
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Mobility | 574 | +4% | 274 | +2% | 48%
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Real Estate | 341 | +13% | 164 | +30% | 48%
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Jobs | 340 | +8% | 218 | +18% | 64%
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Recommerce | 223 | +19% | -21 | +67% | -10%
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Other/HQ & Elim. | 63 | -62% | -72 | +28% | N/A
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Group | 1,543 | +1% | 563 | +36% | 36%
*Constant currency
Group revenues grew 2%, or 1% in constant currency. Revenues across our four
verticals - Mobility, Real Estate, Jobs, and Recommerce - grew 9%, while Group
revenues were impacted by the phase-out of transitional service revenues related
to the Schibsted separation. Group EBITDA improved 36% year-on-year, with the
margin expanding 9 percentage points to 36%, reflecting sustained cost
discipline.
Real Estate had a particularly strong quarter, with continued ARPA growth and
robust volumes in the Norwegian residential for sale segment driving both
revenue and significant profitability gains. Jobs delivered solid growth,
supported by strong ARPA development and the continued benefits of our pricing
and monetisation initiatives. Recommerce showed encouraging progress, with
strong transactional volume growth and a meaningful EBITDA improvement.
Mobility revenue outlook
In Mobility, performance in Norway and the transactional businesses was strong.
However, revenue development in Sweden was held back by the previously
communicated effects of the platform migration. Key metrics in Sweden are
improving and Vend is seeing a positive trajectory. However, further work
remains, particularly in the private segment. Pricing adjustments in the
professional segment will take effect from May 2026, and are expected to
contribute to revenue growth acceleration. In Denmark, solid ARPA growth in the
professional segment from product and pricing initiatives was offset by volume
declines driven by market factors and dealer adaptation to the new business
model which was implemented in January 2026.
At the Q4 2025 results, the Company communicated that it expected 2026 revenue
growth across its verticals in line with medium-term targets. For Mobility, the
Company now expects full-year 2026 revenue growth in the mid-to-high
single-digit per cent range, below the medium-term target range of 12-17%. The
medium-term target remains unchanged.
The Company's other verticals are performing in line with their respective
medium-term targets.
Cost outlook
Vend continues to apply rigorous cost discipline across the Group. The Company
is now preparing further measures, expecting the 2026 full-year cost base (OPEX
excluding COGS) to decline by approximately NOK 100 million compared to the 2025
level. This represents a revision from the Company's previous commentary at the
Q4 2025 results, where a broadly stable full-year 2026 cost base (OPEX excluding
COGS) was indicated.
"Mobility is our largest vertical, with Norway continuing to perform well.
However, the current revenue development in Sweden and Denmark is below our
expectations. We are taking action on costs across the Group while continuing to
invest in product and technology to strengthen our long-term competitive
position. Our other verticals, Real Estate, Jobs and Recommerce, are performing
well, and I am encouraged by the Group's strong profitability development this
quarter," says Christian Printzell Halvorsen, CEO of Vend Marketplaces ASA.
Adevinta
The carrying value of Vend's 14% stake in Adevinta has been revised to NOK 7.2
billion, down NOK 8.9 billion compared to Q4 2025. Adjusted for the distribution
of NOK 3.2 billion in cash proceeds received during the quarter, the net decline
of NOK 5.7 billion was driven by peer group multiple contraction of
approximately 25%. Adevinta continues to develop well operationally.
The first quarter 2026 report will be released on 30 April 2026 at 07:00 CET.
For further information, please contact:
Investor Relations
Jann-Boje Meinecke, SVP FP&A and Investor Relations, Vend Marketplaces ASA
Phone: +47 941 00 835
E-mail: ir@vend.com
Press
Kristine Eia Kirkholm, Director of Communication, Vend Marketplaces ASA
Phone: +47 932 47 875
E-mail: kristine.eia.kirkholm@vend.com
Disclosure regulation
This information is considered inside information pursuant to the EU Market
Abuse Regulation and is subject to the disclosure requirements pursuant to
Section 5-12 of the Norwegian Securities Trading Act. The information was
submitted for publication by the contact person set out above, at 23 April 2026
18:40 CET.
About Vend Marketplaces ASA
Vend Marketplaces ASA ("Vend") is a family of marketplaces with a strong Nordic
position. As a leading marketplaces company within Mobility, Real Estate, Jobs
and Recommerce, we provide effortless digital experiences designed for the needs
of tomorrow. We do it with a clear sense of purpose, to create sustainable value
and long-term growth, for all our stakeholders and society as a whole.
Vend has an ownership share of 14% in Adevinta, a company that was spun off in
2019 and is now privately owned by a group of investors.
ATTACHMENTS
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