Download announcement as PDF
Vend Marketplaces ASA: Interim report Q2 2026
2026-07-17 07:00:42
17.7.2026 07:00:09 CEST | Vend Marketplaces ASA | Half year financial report
Today, Vend Marketplaces ASA ("Vend") released its Q2 2026 results.
Higher profitability, advancing our strategic agenda
"At the start of the year, I described Vend as a focused, pure-play Nordic
marketplace company moving into full-scale execution. Our second-quarter results
demonstrate this execution through expanded profitability, accelerated cost
management, and continued strategic progress," says CEO Christian Printzell
Halvorsen.
Halvorsen adds:
"Group revenues ended at NOK 1,696 million, flat year on year or up 2% in
constant currency. Our four verticals increased 10% in constant currency, partly
offset by the phase-out of transition service agreement revenues from the
Schibsted separation. Group EBITDA increased 16% to NOK 674 million, with the
margin expanding by around five percentage points to 40%, driven by cost
discipline and revenue growth in Real Estate and Recommerce.
Real Estate had a strong quarter, with continued ARPA growth in FINN
residential-for-sale lifting both revenue and profitability. Recommerce advanced
towards its medium-term targets, with transactional and private revenue growth
and improved unit economics driving margin improvements. Jobs continued to grow,
as monetisation gains more than offset softer volumes. In Mobility, Norway and
our transactional businesses performed well, while Sweden remains affected by
the ongoing platform stabilisation, and Denmark by dealer adaptation to the new
business model.
Our migration to a common technology platform advanced. In Norway, the FINN
migration was completed on time and without disruption. In Sweden, key metrics
continue to improve, and the private segment is our main focus. What remains is
Bilbasen in Denmark, planned for 2027, and professional tools - after which we
can shift more focus and resources from migration to value-creating products.
Reducing our cost base is a natural outcome of our simplification agenda and the
progress towards a common technology platform. During the quarter, we took
further steps ahead of plan with targeted, local reorganisations in selected
teams and functions. We now expect the 2026 cost base (OPEX excluding COGS) to
decline by around NOK 150 million year on year, up from around NOK 100 million
indicated at Q1 - while retaining the flexibility to reinvest selectively behind
growth, primarily in marketing.
On AI, we continue to experiment broadly and are increasingly scaling what
works. It is already showing up on two fronts: better products for users and
greater internal productivity. During the quarter, we advanced a range of AI
features, including virtual staging in Real Estate; AI-driven recommendations in
Mobility's Dealer Hub in Norway; and natural language search across Recommerce.
We remain disciplined on capital allocation: the first NOK 2 billion tranche of
our NOK 4 billion buyback announced on 30 April is well under way, having
repurchased around NOK 1.6 billion as at 10 July.
While parts of Mobility remain challenging in the near term, the underlying
health of the business - growing revenues in our verticals, expanding margins
and accelerating strategic delivery - is strong. We are focused, disciplined and
executing in line with our strategic agenda."
This quarter's highlights
* Group: Revenues of NOK 1,696 million, flat YoY and up 2% YoY in constant
currency, as growth across the verticals was offset by the phase-out of
Schibsted transition service agreement revenues. EBITDA of NOK 674 million,
up 16% YoY, representing a margin expansion of around 5 percentage points to
40%, driven by cost discipline and revenue growth in Real Estate and
Recommerce.
* Mobility: Revenues increased 6% YoY in constant currency, driven by strong
ARPA growth in Norway and growth in Nettbil and AutoVex. Volume pressure
persisted in the private segment in Sweden and the professional segment in
Denmark. Advertising revenues declined. EBITDA was NOK 365 million, down 4%
YoY, with an EBITDA margin of 53%.
* Real Estate: Revenues increased 15% YoY in constant currency, with continued
strong ARPA growth in FINN residential-for-sale. EBITDA increased 24% YoY to
NOK 248 million, with an EBITDA margin of 58%.
* Jobs: Revenues increased 5% YoY, driven by a 15% increase in ARPA, which more
than offset a 9% decline in volumes. EBITDA increased 2% YoY to NOK 175
million, with an EBITDA margin of 58%.
* Recommerce: Revenues increased 21% YoY in constant currency, driven by strong
transactional volume growth and private revenues. EBITDA increased by NOK 23
million YoY to NOK -33 million.
* The first NOK 2 billion tranche of the NOK 4 billion share buyback programme
announced on 30 April is well under way, having repurchased around NOK 1.6
billion as at 10 July - underscoring our commitment to disciplined capital
allocation.
* Adevinta: Valuation broadly unchanged at NOK 7.2 billion.
| Second quarter | | | Year
----------------------------------------------------------
(NOK million) | 2026 | 2025 | Change | | 2025
----------------------------------------------------------
Operating revenues | 1,696 | 1,694 | 0% | | 6,317
----------------------------------------------------------
EBITDA | 674 | 583 | 16% | | 2,127
----------------------------------------------------------
EBITDA margin | 40% | 34% | | | 34%
Alternative performance measures used in this release are described and
presented in the section Definitions and reconciliations in the interim report.
Programme for the day, 17 July 2026:
07:00 CEST
Publication of Vend's Q2 results including interim report, presentation, and
financials and analytical information.
09:00 CEST
CEO Christian Printzell Halvorsen and CFO Per Christian Mørland will present
Vend's Q2 results as a virtual live webcast, followed by a Q&A session. The
presentation and following Q&A session will be held in English. The webcast can
be viewed live at:
https://qcnl.tv/p/GKPxa1zGUwsoMVg69Jai9g
For the Q&A at the end of the presentation, we invite financial analysts to ask
questions in a live format by using the raise-hand-feature in Microsoft Teams.
Microsoft Teams link:
https://teams.microsoft.com/meet/34069984398299?p=xq5B4ymOWr2LXAxiPj
Meeting ID: 340 699 843 982 99
Passcode: XS2KL7Vo
Press/media can reach out to Kristine Eia Kirkholm (
kristine.eia.kirkholm@vend.com), Director of Communication, to set up separate
one-on-one interviews with CEO Christian Printzell Halvorsen.
A recording of the presentation will be available on our IR website shortly
after the live webcast has ended.
Oslo, 17 July 2026
Vend Marketplaces ASA
DISCLOSURE REGULATION
This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.
CONTACTS
* Jann-Boje Meinecke, SVP FP&A and Investor Relations, Vend Marketplaces ASA,
+47 941 00 835, ir@vend.com
* Kristine Eia Kirkholm, Director of Communication, Vend Marketplaces ASA, +47
932 47 875, kristine.eia.kirkholm@vend.com
* Nathalie Kåvin, Head of Corporate Communication, Vend Marketplaces ASA, +47
934 01 363, nathalie.kavin@vend.com
ABOUT VEND MARKETPLACES ASA
Vend Marketplaces ASA ("Vend") is a family of marketplaces with a strong Nordic
position. As a leading marketplaces company within Mobility, Real Estate, Jobs
and Recommerce, we provide effortless digital experiences designed for the needs
of tomorrow. We do it with a clear sense of purpose, to create sustainable value
and long-term growth, for all our stakeholders and society as a whole.
Vend has an ownership share of 14% in Adevinta, a company that was spun off in
2019 and is now privately owned by a group of investors.
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18995353/13993/Download%20announc
ement%20as%20PDF.pdf
Q2 2026 Presentation.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18995353/13960/Q2%202026%20Presen
tation.pdf
Q2 2026 Report.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18995353/13961/Q2%202026%20Report
Q2 2026 Financials and Analytical Info.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18995353/13962/Q2%202026%20Financ
ials%20and%20Analytical%20Info.pdf
26 Report.pdf -\
https://kommunikasjon.ntb.no/ir-files/17847482/18995353/13961/Q2%202026%20Report\
.pdf\
\
Q2 2026 Financials and Analytical Info.pdf -\
https://kommunikasjon.ntb.no/ir-files/17847482/18995353/13962/Q2%202026%20Financ\
ials%20and%20Analytical%20Info.pdf\