Q4 2025 Vend Marketplaces ASA Earnings Call Transcript
Key Points
- Vend Marketplaces ASA (SBSNY) reported a strong Q4 with Group EBITDA rising by 53% year-on-year, ending at 491 million.
- The company achieved a significant margin expansion of 12 percentage points to 32%.
- A new 2 billion share buyback program was launched, reflecting confidence in the company's financial position.
- The company successfully executed on vertical-specific product and pricing initiatives, resulting in strong ARPA growth.
- Vend Marketplaces ASA (SBSNY) has returned close to 8 billion kroner to shareholders in 2025 through dividends and share buybacks.
- Group revenues remained stable at 1,510 million, reflecting anticipated headwinds in advertising and soft volumes in jobs.
- The platform transition for Blocket in Sweden faced stronger and more widespread user and dealer reactions than expected.
- Private car ads on Blocket were down around 27%, and user satisfaction recovered more slowly than in previous transitions.
- The fair value of a 14% stake in Avita decreased, resulting in a financial expense of 2.8 billion Norwegian kroner.
- Net loss for the group ended at NOK2.5 billion, partly due to the impairment in Finland and market-driven valuation changes.
Good morning and welcome to our Q4 results presentation.
As usual, Christian, our CEO and PC, our CFO will walk us through the performance and key developments in the quarter.
This time, we will also spend a bit of time on AI to share our perspective and we know it's a topic which many of you are interested in.
Afterwards, we will as usual have a Q&A session with financial analysts which you can join by Microsoft Teams. So please go to the website and find the link.
Let me then just show the disclaimer slide to go through.
And then Christian, the floor is yours.
Thank you very much, Jan Boyer, and good morning everyone. Very happy to be here to present our Q4 results today. But I just quickly wanted to take a moment first to reflect on our 25 results as a whole.
Because 2025 was a defining year for Vent.
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