Hemnet Group Interim report Q1 2025

Summary for the period January-March 2025

• Net sales increased by 29.6 percent to SEK 328.5m (253.4)
• EBITDA increased 31.6 percent to SEK 157.5m (119.7)
• Operating profit increased 36.5 percent to SEK 135.0m (98.9)
• ARPL (average revenue per published listing), increased 36.9 percent to SEK 6,722 (4,911)

* 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 incentive programmes that have been active during each respective period.

Chief Executive’s Comments

Operational highlights

• Net sales for the first quarter increased by 29.6% to SEK 328.5 million (253.4).
• Average revenue per published listing (ARPL) increased 36.9% to SEK 6,722 (4,911) for the quarter driven by rising demand for value-added services – particularly Hemnet Premium – and strong engagement from real estate agents.
• EBITDA increased by 31.6% to SEK 157.5 million (119.7). The EBITDA margin for the quarter increased to 47.9% (47.2).
• Increased operating expenses driven by continued investments in product development and marketing, building a solid foundation for future growth.

Comments
Hemnet delivered a strong first quarter, with net sales increasing by 29.6%.

ARPL for the quarter increased by 36.9% compared to the same period last year. This growth was driven by a steadily increasing demand for our value-added services, especially Hemnet Premium, as well as a growing number of real estate agents recommending our larger, more effective packages.

The number of new property listings increased slightly during the first quarter compared to the same period last year. While the property market is showing more activity through more transactions and increased closing prices compared to a year ago, challenges remain in the form of a record-high supply and longer selling times.

During the quarter, our teams continued to develop and improve Hemnet’s offering. A particular focus was Hemnet Max which was launched after the end of the quarter, on April 1. The package is aimed at sellers who want to maximise their visibility and attract even more buyers, and includes unique features such as exposure on Hemnet’s home page, targeted communication to potential buyers, and enhanced profiling of the listing agent.

We also continued to improve the user experience on Hemnet during the quarter. One exciting upgrade was a new image gallery with swipe functionality in the search results for Plus, Premium, and Max listings leading to increased engagement from our visitors. Another much-requested update was the addition of viewing times for Bas listings directly in the search results.

Within our B2B segment, we saw continued revenue growth from real estate agents who have invested more in value-added services and marketing on Hemnet. However, total B2B sales were negatively impacted by declines in revenue from display advertising.

In March, Orvesto – Sweden’s official source for media reach and audience measurement – published its statistics for 2024. According to the report, Hemnet is the third largest commercial media platform in Sweden, with a weekly reach of 1.9 million people. That’s an increase of 5% compared to 2023 and clear evidence of our strong position in a country defined by high engagement with housing and the property market.

During my first quarter as CEO, I’ve been truly impressed by the company and all its employees. I’ve met many passionate colleagues and seen countless examples of our ability to innovate and deliver real results. A clear highlight this quarter was the preparation for the launch of Hemnet Max — as well as celebrating Sweden’s top-performing agents at Guldhemmet, the country’s largest real estate gala and a Hemnet initiative. During the past months I’ve prioritised meeting with industry stakeholders and have been struck by the strong drive and passion that defines the real estate agent profession. Attending Guldhemmet made me proud to be a key partner to such an engaged and dynamic industry.

With our unique position in the Swedish property market, we have fantastic opportunities to make an even greater impact for our target groups through relevant content, data and unrivalled products. I look forward to further developing our offering together with the team and through ongoing innovation continuing to generate long-term results for our customers, users, partners, and shareholders.

Jonas Gustafsson
CEO
April 2025

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In connection with the report, a presentation of the results will be held at 10.00 CET by Hemnet's CEO Jonas Gustafsson and CFO Anders Örnulf. A Q&A session will be held after the presentation. The presentation will be held in English.

The presentation can be viewed live via the link below.

https://hemnet.events.inderes.com/q1-report-2025/register

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.

https://conference.inderes.com/teleconference/?id=5004598

The report and presentation material will be available on hemnetgroup.com.

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For more information please contact:

Press enquiries
Staffan Tell, Head of PR
M: +46 733 67 66 85
E: [email protected]

IR enquiries
Ludvig Segelmark, Head of IR
M: +46 70 250 14 40
E: [email protected]

About Hemnet
Hemnet operates the leading property platform in Sweden. The company emerged as an industry initiative in 1998 and has since transformed into a "win-win" value proposition for the housing market. By offering a unique combination of relevant products, insights and inspiration, Hemnet has built lasting relationships with buyers, sellers, and agents for more than 20 years. Hemnet shares a mutual passion for homes with its stakeholders and is driven by being an independent go-to-place for people to turn to for the various housing needs that arise through life. This is mirrored in the Company’s vision to be the key to your property journey, supplying products and services to improve efficiency, transparency and mobility on the housing market. Hemnet’s is listed on Nasdaq Stockholm (‘HEM’).

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