Earnings Release • Oct 28, 2025
Earnings Release
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Vend Marketplaces ASA: Interim report Q3 2025
28.10.2025 07:00:01 CET | Vend Marketplaces ASA | Half yearly financial reports
and audit reports / limited reviews
Today, Vend released its Q3 2025 results.
Continued delivery on our monetisation and cost agenda
"Q3 2025 underscored our progress towards becoming a pure-play marketplace
company. We advanced monetisation across our verticals, executed with discipline
on costs, and took further steps to simplify the company," says CEO Christian
Printzell Halvorsen.
"Operationally, we are already focusing on 2026 across our verticals. The next
phase of our product and monetisation agenda is focused on better aligning
pricing and products to the value we deliver. While planning ahead, we
maintained strong momentum in the quarter: delivery against the monetisation
plan continued, driving sustained growth in ARPA, and transactional revenues
again posted solid growth. Advertising remains a headwind, but trends are
stabilising. Our platform transition remains on track, and we are confident of
achieving the next major milestone - migrating Blocket to the common platform by
year-end 2025, in line with plan," says Halvorsen.
"Financially, Group revenues were NOK 1,595 million, a 1 per cent year-on-year
decline on a constant currency basis, with the decrease concentrated in Other
and Headquarters while performance in our verticals remained solid. Group EBITDA
increased by 24 per cent to NOK 640 million. Operating expenses declined again,
reflecting lower personnel costs, reduced marketing spend, and lower costs
related to the initial phase-out of temporary service agreements with Schibsted
Media," says Halvorsen.
"We are also continuing to simplify the company to sharpen execution. During the
quarter we signed an agreement to sell Lendo, launched the sales process for
Delivery, and continued exiting venture investments. In addition, we are
finalising the removal of our dual-class share structure. Consistent with our
capital allocation policy, the Board has approved a new share buyback programme
to be launched later this year," says Halvorsen.
"These actions and results reaffirm that we are delivering against the strategic
and financial objectives set out at our Capital Markets Day in November 2024. We
enter the final quarter with momentum, a simpler and stronger company, and a
clear direction to continue creating value for our users, customers, and
shareholders," adds Halvorsen.
This quarter's highlights
* Group: Revenues of NOK 1,595 million, down 1 per cent YoY on a constant
currency basis. EBITDA of NOK 640 million, up 24 per cent YoY.
* Mobility: 8 per cent revenue growth on a constant currency basis, with
classifieds up 13 per cent, driven by ARPA, transactional up 18 per cent
driven by AutoVex and Nettbil, while YoY decline in advertising was 14 per
cent. EBITDA of NOK 389 million, up 16 per cent YoY.
* Real Estate: 8 per cent revenue growth on a constant currency basis. The
positive revenue development was driven by strong ARPA in Norway, slightly
counteracted by negative volume developments. Transactional revenues
continued the positive development. Operating expenses excluding COGS
increased 5 per cent driven by higher marketing spend in the quarter,
resulting in an EBITDA increase of 15 percent YoY to NOK 167 million.
* Jobs: Revenues down 12 per cent on a constant currency basis as a consequence
of our exit from Sweden and Finland. Revenues in Norway increased 1 per cent
driven by strong ARPA growth in the quarter, offset by volume decline of 13
per cent. Operating expenses down 25 per cent YoY, and EBITDA increased 11
per cent YoY to NOK 136 million.
* Recommerce: 2 per cent revenue decline on a constant currency basis.
Transactional revenues grew 20 per cent while advertising revenues declined
by 23 per cent YoY. Deconsolidation and phasing out non-core revenue streams
impacted revenue negatively in the quarter. Operating expenses excluding COGS
decreased 2 per cent YoY, leading to an EBITDA increase of 22 per cent YoY to
NOK -44 million.
| Third quarter | | | Full year
-------------------------------------------------------------------------------
(NOK million) | 2025 | 2024 (restated) | Change | | 2024 (re-presented)
-------------------------------------------------------------------------------
Operating revenues | 1,595 | 1,624 | -2% | | 6,385
-------------------------------------------------------------------------------
EBITDA | 640 | 516 | 24% | | 1,632
-------------------------------------------------------------------------------
EBITDA margin | 40% | 32% | | | 26%
Alternative performance measures used in this release are described and
presented in the section Definitions and reconciliations in the quarterly
report.
Programme for the day, 28 October 2025:
07:00 CET
Publication of Vend's Q3 results including interim report, presentation, and
financials and analytical information.
09:00 CET
CEO Christian Printzell Halvorsen and CFO Per Christian Mørland will present
Vend's Q3 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://channel.royalcast.com/landingpage/hegnarmedia/20251028_3/
For the Q&A at the end of the presentation, we invite analysts to ask questions
in a live format by using the raise-hand-feature in Microsoft Teams.
Microsoft Teams link:
https://teams.microsoft.com/l/meetup-join/19%3ameeting_NGZhZDRlZjEtNTMxNC00MzQ3L
TgyMDUtN2MwZTEzMmEyY2Zj%40thread.v2/0?context=%7b%22Tid%22%3a%226f6d5d78-35df-4e
19-83aa-7efcf9b475bc%22%2c%22Oid%22%3a%222475081b-3683-4421-90d7-20303166e40e%22
%7d
Meeting ID: 365 728 533 034
Passcode: oT7kF673
Press/media can reach out to Kristine Eia Kirkholm (
[email protected]), 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, 28 October 2025
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, [email protected]
* Kristine Eia Kirkholm, Director of Communication, Vend Marketplaces ASA, +47
93 24 78 75, [email protected]
* Simen Madsen, Investor Relations Officer, Vend Marketplaces ASA, +47 992 73
674, [email protected]
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/17847482/18699547/6520/Download%20announce
ment%20as%20PDF.pdf
Q3 2025 Report.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18699547/6516/Q3%202025%20Report.
Q3 2025 Financials and Analytical Info.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18699547/6517/Q3%202025%20Financi
als%20and%20Analytical%20Info.pdf
Q3 2025 Results Presentation.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18699547/6518/Q3%202025%20Results
%20Presentation.pdf
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