Norway · Delayed Price · Currency is NOK Vend Marketplaces ASA Earnings Call Transcripts
Fiscal Year 2026
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The meeting approved all agenda items, including a NOK 2.5 per share dividend, new board members, and major authorizations. Financial results showed strong EBITDA growth, but Mobility segment growth remains a challenge. A new NOK 4 billion buyback program was announced.
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Q1 2026 saw 2% revenue growth and a 36% EBITDA increase, with strong performance in Real Estate, Jobs, and Recommerce, but Mobility growth was revised down due to challenges in Sweden and Denmark. A new NOK 4 billion share buyback was announced, and cost discipline remains a focus.
Fiscal Year 2025
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Q4 delivered strong profitability with EBITDA up 53% year-over-year and margin expansion, driven by cost discipline and ARPA growth. Major platform migrations and simplification measures were completed, while NOK 8 billion was returned to shareholders. Blocket's transition impacted private ad volumes, but stabilization efforts are ongoing.
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Q3 saw a 1% revenue decline but a 24% EBITDA increase, driven by cost reductions and strong ARPA growth across key verticals. Portfolio simplification advanced, a NOK 2 billion share buyback was approved, and medium-term growth targets were reaffirmed despite ongoing macro and volume uncertainties.
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The meeting approved the removal of the dual share class structure, amendments to the articles, share capital reduction, and new board authorizations for share issuance and buybacks. All resolutions passed with strong majorities, and regulatory feedback influenced the handling of subscription rights.
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Q2 saw EBITDA rise 25% year-on-year on cost reductions, while revenues dipped 2% due to discontinued streams. ARPA grew across all verticals, and significant capital was returned to shareholders. Outlook remains positive for ARPA, but volumes and advertising are under pressure.
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The AGM approved all board and committee proposals, including a NOK 2.25 per share dividend, a special dividend authorization, share buybacks, and a corporate name change to Vend Marketplaces ASA. 2024 saw strong revenue and profit growth, strategic exits, and new executive incentives.
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Revenue grew 4% and EBITDA 18% year-on-year, driven by ARPA gains and cost reductions. Real estate and jobs outperformed, while advertising and recommerce faced headwinds. Portfolio simplification and share buybacks continued, with muted revenue growth expected ahead.
Fiscal Year 2024
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Q4 saw 12% revenue growth and 3% higher EBITDA, driven by delivery and real estate, despite advertising headwinds and restructuring costs. Strategic exits and a new brand identity mark a major transformation, with double-digit ARPA growth targeted for real estate in 2025.
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The company has transformed into a focused Marketplaces player, divesting non-core assets and setting ambitious financial targets for each vertical. Growth will be driven by platform consolidation, vertical specialization, and disciplined cost management, with strong emphasis on ARPA and transactional models.
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Q3 saw 9% revenue growth and a 17% EBITDA increase, driven by Nordic Marketplaces and delivery. Strategic focus sharpened with exits from non-core businesses and continued cost reductions, while macro and advertising headwinds are expected to mute Q4 growth.
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Q2 saw 3% revenue growth and 1% EBITDA increase, driven by strong classifieds and parcel delivery, while restructuring and cost-saving measures were initiated post-media divestment. Special dividends and buybacks are underway, with further efficiency gains expected.