Q1 2026 Hemnet Group AB (publ) Earnings Call Transcript
Key Points
- Hemnet Group AB (HMNTY) successfully launched the 'Sell First, Pay Later' model, which has been well-received and is driving more and earlier listings.
- Average Revenue Per Listing (ARPL) grew by 12.2% in Q1, driven by strong demand for value-added services and price adjustments.
- The company reported a significant increase in new published listings in April, indicating a market rebound.
- Hemnet Group AB (HMNTY) continues to leverage AI for product innovation and operational efficiency, with 50% of code now written using AI copilots.
- The company maintains a strong market reach with 1.8 million weekly users, particularly in metropolitan areas like Stockholm.
- Net sales declined by 24.7% in Q1 due to weak listing volumes and a timing shift in revenue recognition.
- Published listings decreased by 30.7%, with a significant drop in paid listings as well.
- EBITDA margin fell to 36.1%, down from the previous year, due to lower listing volumes and reduced fixed cost leverage.
- The average listing duration increased by 21% year-on-year, negatively impacting revenue.
- The company faces competitive pressures, with concerns about the shrinking lead over competitors like Booli in terms of daily active users.
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Good morning, everyone, and a warm welcome to this 2026 Q1 release call for Hemnet Group. My name is Jonas Gustafsson, and I'm the Group CEO of Hemnet. With me, here on my side today at our headquarters in Stockholm, I have our Chief Financial Officer, Anders Ornulf; and our Head of Investor Relations, Ludvig Segelmark.
As usual, we will go through the presentation that was published on our website earlier this morning during today's session. I will kick it off with a summary of the main highlights during the first quarter. Thereafter, Anders Ornulf will cover the financial details before I come back in the end to wrap up today's session. (Operator Instructions)
So with that, let's get started, and let's move on to the next slide, please. Net sales declined by 24.7% in Q1, driven by weak listing volumes throughout the first quarter. Sales were also negatively impacted by a timing shift in revenue recognition related to the rollout in the new commercial proposition and payment model, Sell
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