Hemnet Group AB: Hemnet Group Interim report Q2 2025

Summary for the period April-June 2025

• Net sales increased by 19.4 percent to SEK 483.5m (405.0)
• EBITDA increased 20.7 percent to SEK 260.9m (216.2)
• Operating profit increased 21.5 percent to SEK 237.7m (195.6)
• ARPL (average revenue per published listing), increased 34.7 percent to SEK 8,451 (6,274)

Summary for the period January-June 2025

• Net sales increased by 23.3 percent to SEK 812.0m (658.4)
• EBITDA increased 24.6 percent to SEK 418.4m (335.9)
• Operating profit increased 26.6 percent to SEK 372.7m (294.5)
• ARPL (average revenue per published listing), increased 34.7 percent to SEK 7,674 (5,695)
  

	Apr-Jun			Jan-Jun			Last twelve months	FY
(SEK million, unless stated otherwise)	2025	2024	Change	2025	2024	Change	ending Jun 2025	2024
Net sales	483.5	405.0	19.4%	812.0	658.4	23.3%	1,548.2	1,394.6
Adjusted EBITDA*	260.9	216.2	20.7%	418.4	335.9	24.6%	802.3	719.8
Adjusted EBITDA-margin*, %	54.0%	53.4%	0.6 p.p.	51.5%	51.0%	0.5 p.p.	51.8%	51.6%
Operating profit*	237.7	195.6	21.5%	372.7	294.5	26.6%	712.0	633.8
Profit for the period	185.0	148.7	24.4%	287.9	221.1	30.2%	548.2	481.4
Earnings per share, basic, SEK1	1.95	1.55	25.8%	3.02	2.30	31.3%	5.74	5.01
Earnings per share, diluted, SEK1	1.94	1.54	26.0%	3.02	2.29	31.9%	5.73	5.00
Cash flow from operating activities	229.2	204.8	11.9%	349.9	295.3	18.5%	621.5	566.9

* Alternative Performance Measure, see pages 17-19 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

Comments
Hemnet delivered a strong performance in the second quarter, with continued growth despite a softer property market with lower listing volumes. Net sales increased by 19.4% and EBITDA by 20.7%, supported by a 34.7% growth in Average Revenue Per Published Listing (ARPL) compared to the same period last year. The EBITDA margin for the quarter increased to 54.0% from 53.4% in the second quarter of 2024.

The increase in ARPL was primarily driven by more property sellers choosing our value-added services, along with price adjustments. The conversion rate to higher-tier packages increased during the quarter and was supported by the launch of Hemnet Max on April 1. While Hemnet Max itself accounted for a smaller share of upgrades, its introduction has encouraged more sellers to upgrade their listing at an even higher rate.

After a more active start to the year, listing volumes declined year-on-year in the second quarter, reflecting a softer market shaped by macroeconomic uncertainty and tougher comparables, as last year's interest rate cuts in May and June drove accelerated listing activity. The market also shifted into a slower pace earlier than usual ahead of summer, as both sellers and agents appeared more hesitant to list properties in an environment of record-high supply and longer selling times.

B2B net sales are flat versus last year, marking an improvement from the previous quarter. We continue to see strong demand for Hemnet unique products from real estate agents as well as banks. However, demand for display advertising, particularly from property developers and other advertisers, remain lower than historic averages, a trend we've
seen persist for several quarters, reflecting continued market uncertainty.

During the quarter, we continued to strengthen our value proposition and user experience, beginning with the launch of Hemnet Max. While Hemnet Bas, Plus, and - by a wide margin - Premium remain the most popular packages, early results for Hemnet Max are encouraging. In Stockholm, listings with Hemnet Max published between April 1 and June 1 outperformed Premium, with 40% higher bidding premiums and 75% more listing visits on average. These results align well with our packaging strategy: Hemnet Max is already creating clear value for sellers who choose it, and we see strong long-term potential as we continue to develop the offering.

Other product highlights from the quarter, recently launched or soon to be released, include a personalised discovery feed for logged-in users, curated listing collections, social sharing from web, and real-time push notifications for saved searches - all contributing to increased value for the users.

According to new data, 9 out of 10 properties sold in Sweden during 2024 were listed on Hemnet at some point in the sales process¹ - a strong proof point of our position as the go-to platform for property advertising. Our market leadership was further confirmed by a recent consumer survey conducted by Kantar Media, where we were the clear first choice among both buyers (83%) and sellers (87%) - well ahead of other platforms. Together, this data reaffirm Hemnet's position as Sweden's leading property platform and underscore the trust, value, and relevance we bring to the home journey.

Through targeted investments in product development and marketing during the quarter, we are laying the groundwork for continued platform innovation and long-term growth. We enter the second half of the year focused on delivering even more value to our customers and confident in our strategy. I'm proud of what the team has accomplished so far this year, and look forward to what we can achieve together in the months ahead.

Jonas Gustafsson
CEO
July 2025

¹Based on a comparison of Hemnet listing data and 2024 property sales data from Statistics Sweden (Statistiska Centralbyrån), published July 4, 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/q2-report-2025

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=5004220

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: [phone]
E: [e-mail]

Jessica Sjöberg, Chief Communication and Brand Officer
M: [phone]
E: [e-mail]

IR enquiries
Ludvig Segelmark, Head of IR
M: [phone]
E: [e-mail]

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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This information is information that Hemnet Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-07-18 08:00 CEST.

Image Attachments
Jonas Gustafsson CEO Hemnet