Hemnet Group — Interim / Quarterly Report 2022

Jul 21, 2022

1

Hemnet Interim report Q2

Summary for the period April-June 2022

• ` Net sales increased by 26.9 percent to SEK 269.7m (212.5)
• ` Adjusted EBITDA increased 31.0 percent to SEK 145.3m (110.9)
• ` Operating profit increased 102.7 percent to SEK 127.5m (62.9)
• ` ARPL, average revenue per listing, increased 33.9 percent to SEK 3,163 (2,363)

		Apr-Jun		Jan-Jun			Last twelve months	FY
(SEK million, unless stated otherwise)	2022	2021	Change	2022	2021	Change	ending Jun 2022	2021
Net sales	269.7	212.5	26.9%	449.3	355.0	26.6%	822.4	728.1
Adjusted EBITDA*	145.3	110.9	31.0%	230.8	168.1	37.3%	417.7	355.0
Adjusted EBITDA-margin*, %	53.9%	52.2%	1.7 pp	51.4%	47.4%	4.0 pp	50.8%	48.8%
Operating profit*	127.5	62.9	102.7%	195.3	76.5	155.3%	342.7	223.9
Earnings per share, basic, SEK¹	0.99	0.36	175.0%	1.51	0.42	259.5%	2.63	1.55
Earnings per share, diluted, SEK¹	0.99	0.36	175.0%	1.51	0.42	259.5%	2.63	1.55
Cash flow from operating activities	141.3	76.2	85.4%	214.0	88.0	143.2%	361.0	235.0

¹ The calculation of dilution of shares is made based on the number of days that the warrant programmes that have been active during each respective period. As no market price is available to set against the exercise price and the number of warrants is limited in relation to the number of ordinary shares, the dilution effect for periods before Hemnets IPO on 27 April, 2021, has been calculated based on the maximum theoretical dilution. For periods beginning after 27 April, 2021, the calculation of dilution is made based on the average share price during each respective period.

* Alternative Performance Measure, see pages 17-19 for derivation and definitions.

Summary for the period January-June 2022

• ` Net sales increased by 26.6 percent to SEK 449.3m (355.0)
• ` Adjusted EBITDA increased 37.3 percent to SEK 230.8m (168.1)
• ` Operating profit increased 155.3 percent to SEK 195.3m (76.5)
• ` ARPL, average revenue per listing, increased 36.5 percent to SEK 2,963 (2,171)

Interim report Q2

January-June 2022

"Strong growth as both increasing demand for value-added services and price adjustments drive ARPL"

Net sales growth, % 26.9%

ARPL growth, % 33.9%

Adjusted EBITDA-margin, % 53.9%

Operational highlights

• • Average revenue per listing (ARPL) increased by 33.9 percent to SEK 3,163 (2,363), as demand for our products continued to increase in combination with price adjustments across all products for property sellers.
• • Number of published listings increased by 3.2 percent compared to the same period last year.
• • Business-to-business revenue increased 4.3 percent as real estate agents continued to invest in display, Hemnet Business and the new section to find sellers.

Comments

Net sales increased by 26.9 percent to SEK 269.7m (212.5) and adjusted EBITDA increased by 31.0 percent to SEK 145.3m (110.9) in the second quarter.

Revenue from property sellers grew by 37.3 percent as the share of sellers that choose one of our larger marketing packages, Hemnet Plus or Hemnet Premium, continued to increase. We keep improving our strong offering for property sellers, and drive growth in ARPL through a combination of product development, conversion and price.

The number of published listings exceeded last year's high volumes by 3.2 percent, and thereby contributed with a tenth of the total growth in revenue from property sellers. Thus, despite higher inflation and interest rates, the number of new listings coming to market continues apace.

We are seeing a shift towards more of a buyer's market with lower property prices and longer selling times. One of Hemnet's strengths is that our business is also well positioned for this type of market, as we are paid for each new listing rather than a completed property transaction. In addition, our larger marketing packages become even more valuable as sellers seek to maximise the exposure of their home for sale, in order to secure a sale and get the right price.

After building momentum in property sellers' products, we also have traction on the business-to-business side. Sales to other customer categories increased by 4.3 percent during the quarter, and 7.6 percent excluding items affecting comparability, reversing the trend of the previous two quarters. The high demand from real estate agents for existing products continued, and we have due to the high demand started to build awareness for the new section where agents are visible for new potential sellers.

This quarter, which was marked by many uncertainties and challenges for businesses around the world, has highlighted Hemnet's robust position. With visitors spending an incredible 880 million minutes on our platforms during the second quarter we have by far the largest and most engaged home-moving audience in Sweden, and the fact that nine out of ten properties that are sold in Sweden are listed on Hemnet adds further weight to that position. We have a strong financial position and in May we paid our first dividend as a public company, as well as launched a share buy-back program of SEK 450m.

In August I look forward to welcoming new members to our management team. We continue to build an increasingly strong team, and we are well equipped to continue delivering sustainable and profitable growth for the long term.

Cecilia Beck-Friis, CEO July 2022

Chief Executive's comments

Financial targets

ARPL

Operational indicators

Hemnet aims to achieve a Net Debt to Adjusted EBITDA of less than 2.0x.

Hemnet aims to achieve an adjusted EBITDA margin of 45–50 percent in the medium term.

Hemnet aims to achieve annual net sales growth of 15–20 percent.

Last twelve months	FY

	Apr-Jun				Jan-Jun		months	FY
	2022	2021	Change	2022	2021	Change	ending Jun 2022	2021
ARPL (average revenue per listing), SEK	3,163	2,363	33.9%	2,963	2,171	36.5%	2,893	2,467
Number of published listings, thousand	64.5	62.5	3.2%	110.2	106.5	3.5%	202.1	198.4

The below graph shows Hemnets ARPL development during the last nine quarters, both as isolated quarters and on LTM basis.

Financial summary, April-June 2022

Continued strong growth in net sales, because of continued increase in average revenue per listing (ARPL), as well as a somewhat higher number of published listings. Adjusted EBITDA increased 31.0 percent to SEK 145.3m (110.9).

Net sales and profit

Net sales increased by 26.9 percent to SEK 269.7m (212.5).

Revenue from property sellers increased by 37.3 percent to SEK 200.0 (145.7). The sales of value-added services for property sellers - Hemnet Plus, Hemnet Premium, Raketen, Förnya annons (Renew ad) - continued to increase, which in combination with price adjustments across all products led to ARPL growing by 33.9 percent to SEK 3,163 (2,363). The number of published listings increased by 3.2 percent.

Net sales from other customers increased by 4.3 percent to SEK 69.7m (66.8). Last year included items affecting comparability of SEK 2.0m in the period, related to marketing activities carried out with Mäklarsamfundet (for further information on campaigns with Mäklarsamfundet, see Note K28 Related Party Transactions in the Annual and sustainability report for 2021). The remaining part of net sales from other customers increased by 7.6 percent to SEK 69.7 (64.8). Display revenue from real estate agents and banks continued to increase while the corresponding revenue from property developers and other customers decreased. Revenue from value-added services for real estate agents increased.

Capitalised development was SEK 2.9m (1.2) and related to investments in new products for property sellers and buyers, as well as new products for property developers and real estate agents.

Other external expenses decreased by 10.4 percent to SEK 86.8m (96.9). However, the first quarter 2021 included items affecting comparability of SEK 29.7m, consisting of SEK 25.9m related to IPO-preparations and SEK 3.8m for marketing campaigns carried out together with Mäklarsamfundet.

Other external expenses, excluding items affecting comparability, increased by 29.2 percent to SEK 86.8m (67.2). Most of these expenses was SEK 57.6m (42.8) administration and commission expenses to real estate agents, which increased by 34.6 percent because of the increasing revenue from listing related services. In addition, the second quarter last year also included SEK 2.2m related to education compensation to real estate agents. The remaining part increased by 19.7 percent to SEK 29.2m (24.4), mainly related to higher consultancy costs due to the continued focus on product development.

Personnel costs increased by 22.0 percent to SEK 41.0m (33.6), as the company continued to invest in new and existing personnel.

Adjusted EBITDA increased 31.0 percent to SEK 145.3m (110.9) and the adjusted EBITDA-margin was 53.9 percent (52.2).

EBITDA increased 74.6 percent to SEK 145.3m (83.2), corresponding to an EBITDA-margin of 53.9 (39.2) percent.

Adjusted EBITDA

A Net sales

• B Compensation to real estate agents
• C Other external expenses excl. comp. to real estate agents
• D Personnel costs
• E Other

Depreciation & amortisation amounted to SEK 17.8m (20.3), whereof amortisation of intangible assets, mainly from the acquisition of Hemnet, amounted to SEK 15.6m (18.2) and depreciation of right-of-use assets amounted to SEK 1.9m (1.8).

Operating profit increased 102.7 percent to SEK 127.5m (62.9), corresponding to an operating margin of 47.3 (29.6) percent. The increase in operating margin is due to both the fact that the second quarter of 2021 included SEK 29.7m of items affecting comparability as well as increasing net sales.

Financial items - net, improved from negative SEK 16.8m to negative SEK 1.2m, partly due to lower interest costs on bank loans because of both lower borrowing and lower interest rate on bank loans, but also partly due to the impact of capitalised arrangement fees for a previous credit facility in the same period last year. Interest costs on bank loans amounted to SEK 1.1m (2.6).

Tax expense amounted to SEK 26.3m (10.0), corresponding to an effective tax rate of 20.8 (21.6) percent.

Net profit for the period increased by SEK 63.9m and amounted to SEK 100.0m (36.1).

Cash flow and financial position

Cash flow from operating activities increased by SEK 65.1m and amounted to SEK 141.3m (76.2). The increase was primarily due to higher operating profit, with lower interest payments also having a positive effect, but this was partly offset by mainly higher tax payments following the higher profit in 2022. The change in working capital was positive at SEK 9.2m (3.3). Taxes paid during the quarter amounted to SEK -12.1m (-3.8).

Cash flow from investing activities amounted to SEK -4.1m (-1.5). Investments in intangible and tangible fixed assets totalled SEK -4.1m (-1.5) and related almost exclusively to capitalised development expenses of SEK 3.7m (-1.4).

Cash flow from financing activities totalled SEK -95.3m (-224.5), mainly as a result of the dividend payment of SEK -55.6m and share buybacks of SEK -40.3m. Amortisation of lease liabilities resulted in a cash flow of SEK -2.0m. During the same period last year, financing activities resulted in a cash flow of SEK -224.5m, mainly consisting of repayment of a previous credit facility of SEK -683.5m, drawdown of a new credit facility of SEK 500.0m and voluntary repayments on the new credit facility of SEK -50.0m.

Cash and cash equivalents amounted to SEK 138.2m (94.5) and total interest-bearing liabilities amounted to SEK 216.1m (283.1). Net debt thus amounted to SEK 77.9m (188.6), which corresponds to 0.2 (0.5) times adjusted EBITDA for the last twelve months.

Total shareholders' equity amounted to SEK 1,576.1m (1,516.9), corresponding to an equity-to-assets ratio of 72.5 percent (71.1).

Financial position

Historical development of the Group's net debt and net debt in relation to rolling twelve months adjusted EBITDA.

Financial summary, January-June 2022

Continued strong growth in net sales, because of continued increase in average revenue per listing (ARPL), as well as a somewhat higher number of published listings. Adjusted EBITDA increased 37.3 percent to SEK 230.8m (168.1).

Net sales and profit

Net sales increased by 26.6 percent to SEK 449.3m (355.0).

Revenue from property sellers increased by 40.8 percent to SEK 320.8 (227.8). The sales of value-added services for property sellers - Hemnet Plus, Hemnet Premium, Raketen, Förnya annons (Renew ad) - increased, which in combination with price adjustments across all products led to ARPL growing by 36.5 percent to SEK 2,963 (2,171). The number of published listings increased by 3.5 percent.

Net sales from other customers increased by 1.0 percent to SEK 128.5m (127.2). Previous year included items affecting comparability of SEK 4.0m related to marketing activities carried out with Mäklarsamfundet (for further information on campaigns with Mäklarsamfundet, see Note K28 Related Party Transactions in the Annual and sustainability report for 2021). The remaining part of net sales from other customers increased by 4.3 percent to SEK 128.5 (123.2). Display revenue from real estate agents and banks increased while the corresponding revenue from property developers and other customers decreased. Revenue from value-added services for real estate agents increased.

Capitalised development was SEK 5.4m (3.8) and related to investments in new products for property sellers and buyers, as well as new products for property developers and real estate agents.

Other external expenses decreased by 17.7 percent to SEK 145.8m (177,2). However, the first six months of 2021 included items affecting comparability of SEK 55.7m, consisting of SEK 49.3m related to IPO-preparations and SEK 6.4m for marketing campaigns carried out together with Mäklarsamfundet.

Other external expenses, excluding items affecting comparability, increased by 20.0 percent to SEK 145.8m (121.5). Most of these expenses was SEK 92.6m (74.3) administration and commission expenses to real estate agents, which increased by 24.6 percent because of the increasing revenue from listing related services. In addition, the first six months of last year also included SEK 7.7m related to education compensation to real estate agents. The remaining part increased by 12.7 percent to SEK 53.2m (47.2), mainly related to higher consultancy costs due to the continued focus on product development.

Personnel costs increased by 21.4 percent to SEK 78.8m (64.9), as the company continued to invest in new and existing personnel.

Adjusted EBITDA increased 37.3 percent to SEK 230.8m (168.1) and the adjusted EBITDA-margin was 51.4 percent (47.4).

EBITDA increased 98.3 percent to SEK 230.8m (116.4), corresponding to an EBITDA-margin of 51.4 (32.8) percent.

-

-

Depreciation & amortisation amounted to SEK 35.5m (39.9), whereof amortisation of intangible assets, mainly from the acquisition of Hemnet, amounted to SEK 31.1m (35.7) and depreciation of right-of-use assets amounted to SEK 3.8m (3.6).

Operating profit increased 155.3 percent to SEK 195.3m (76.5), corresponding to an operating margin of 43.5 (21.5) percent. The increase in operating margin is due to both the fact that the first six month of 2021 included SEK 55.7m of items affecting comparability, as well as increasing net sales and the effect of the new compensation model for real estate agents that was launched 1 March 2021.

Financial items - net, improved from negative SEK 22.0m to negative SEK 2.8m, partly due to lower interest costs on bank loans because of both lower borrowing and lower interest rates on bank loans, but also partly due to the impact of capitalised arrangement fees for a previous credit facility in the same period last year. Interest costs on bank loans amounted to SEK 2.3m (6.5).

Tax expense amounted to SEK 40.0m (11.7), corresponding to an effective tax rate of 20.8 (21.5) percent.

Net profit for the period increased by SEK 109.7m and amounted to SEK 152.5m (42.8).

Cash flow and financial position

Cash flow from operating activities increased by SEK 126.0m and amounted to SEK 214.0m (88.0). The increase was primarily due to higher operating profit, with lower interest payments also having a positive effect, but this was partly offset by mainly higher tax payments following the higher profit in 2022. The change in working capital was positive at SEK 24.5m (1.3). Taxes paid during the period amounted to SEK -39.0m (-18.1).

Cash flow from investing activities amounted to SEK -8.1m (19.2). Investments in intangible and tangible fixed assets were in total SEK -8.1m (-5.5) and related almost exclusively to capitalised development expenses of SEK 7.0m (-5.2). During the same period last year, all interest-bearing securities were divested, which lead to a positive cash flow of SEK 24.7m.

Cash flow from financing activities totalled SEK -162.2m (-231.5), mainly because of voluntary repayments of bank loans of SEK -65.0m, dividend payment of SEK -55.6m and share buybacks of SEK -40.3m. Amortisation of lease liabilities resulted in a cash flow of SEK -3.9m. During the same period last year, financing activities resulted in a cash flow of SEK -231.5m, mainly consisting of repayment of a previous credit facility of SEK -688.6m, drawdown of a new credit facility of SEK 500.0m and voluntary repayments on the new credit facility of SEK -50.0m.

Cash and cash equivalents amounted to SEK 138.2m (94.5) and total interest-bearing liabilities amounted to SEK 216.1m (283.1). Net debt thus amounted to SEK 77.9m (188.6) which corresponds to 0.2 (0.5) times adjusted EBITDA for the last twelve months.

Total shareholders' equity was SEK 1,576.1m (1,516.9), corresponding to an equity-to-assets ratio of 72.5 percent (71.1).

Parent company, financial development January-June

Net sales of the Parent company amounted to SEK 4.9m (3.5). All revenue refers to services to other Group companies. Operating profit/loss was SEK -3.3m (-48.8), where the previous year's result included expenses related to the preparation of the IPO amounting to SEK 47.5m, which were classified as items affecting comparability.

The assets of the Parent company consist mainly of investments in Group companies and Group receivables. The operations are financed by equity, bank loans and Group liabilities. The Parent company equity at the end of the period amounted to SEK 897.3m (996.9) and the equity ratio was 60.6 percent (59.3).

Other information

Covid-19 effects and the war in Ukraine

The Covid-19 pandemic have had a major impact on society but has not had any significant negative impact on Hemnet's financial results. The number of visits to Hemnet increased during the beginning of the pandemic and during the first half of 2021, after which the number of visits now has returned to more normal levels. During the period, the number of published listings increased as well as ARPL (average revenue per listing). Overall increased remote working during the pandemic has likely benefitted the interest in Hemnet, as the home and living environment became an even more important part of people's everyday life.

The war in Ukraine may have had a negative impact on traffic to Hemnet during a period of time. However, the company's assessment is that this has not had any material financial impact.

Employees

The number of employees at the end of the period was 121 compared to 115 at the end of June 2021 and 112 at the end of December 2021. The increase is primarily in the area of product development.

Repurchase and holding of treasury shares

The Annual General Meeting authorized the Board of Directors to, on one or more occasions during the period until the next Annual General Meeting, decide on the repurchase of own shares to such an extent that the

Company holds no more than ten (10) percent of all shares in the Company at any time after the acquisition. The maximum amount for repurchases during the period shall be SEK 450 million. Acquisitions shall be made on Nasdaq Stockholm at a price per share within the price interval registered at any given time. The purpose of the authorization is to adjust the Company's capital structure by reducing the share capital. The Board of Directors therefore intends to propose to the Annual General Meeting 2023 that the repurchased shares be cancelled.

In addition to the decision to launch the share repurchase program, Hemnet's Board of Directors has decided to use the authorization of the Annual General Meeting to resolve the acquisition of a maximum of 57,200 ordinary shares to ensure the delivery of shares to the participants of the 2022/2025 Share Savings Program. Acquisitions shall take place on Nasdaq Stockholm at a price per share within the price interval registered at any given time.

During the quarter – after the Annual General Meeting on April 27, 2022 – 252,177 shares were repurchased for a total of SEK 32.8m under the share repurchase program of SEK 450 million. In addition, 57,000 shares were repurchased for a total of SEK 7.5m as part of the company's commitment under the 2022/2025 Share Savings Program. The total number of treasury shares at the end of the quarter thus amounts to 309,177. The number of shares outstanding, excluding treasury shares, as of June 30, 2022, is 100,822,301. The total number of shares in the Company is 101,131,478.

Seasonality

Hemnet's sales and earnings are partly affected by seasonal fluctuations, mainly linked to vacation seasons and major holidays, as the number of listings and activity on Hemnets platforms tend to be lower during these periods than during other periods of the year. Seen over a financial year, the year begins with low volumes that gradually increase until the summer months where volumes decrease to lower levels and then increase again after the summer holiday period, before they decrease again ahead of the Christmas holidays.

Overall, the first quarter in particular tends to be weaker seasonally, both in terms of sales and earnings, while the second quarter tends to be the strongest.

Average revenue per listing, ARPL, is affected by certain seasonal effects. Listing revenue and revenue from listing related value-added services is, in accordance with IFRS, recognised over the average duration of a listing on Hemnet. The effect is that quarters that are preceded by a month with a high volume of listings and value-added services benefit. Historically, March and September have been such months with high volume of listings, giving a positive contribution to revenue and ARPL in the following month and therefore the second and the fourth quarter respectively.

Risks and uncertainties

Hemnet is through its operations exposed to risks and uncertainties. The income from listing fees is a significant part of sales. Hemnet's operations are therefore dependent on an efficient, well-functioning housing market with high mobility. Hemnet's advertising business has continued to develop positively, and we offer advertising both through direct sales and through programmatic trading. The development and trends for advertising purchases in the market can affect Hemnet's revenue both positively and negatively. For Hemnet, it is of great importance to have a good relationship with the real estate agents and to have a substantial range of listings. Hemnet's future business may be threatened if a deteriorating agent relationship would result in a reduction in the number of listings.

In addition to its own funds, the Group´s operations are also financed through borrowing. As a result, the business is exposed to financing risks and interest rate risk. The Group's overall risk management policy focuses on the unpredictability of the financial markets and strives to minimise potential adverse effects on the Group's financial results.

For a detailed description of the risk factors and how they are managed, please refer to Hemnet's Annual Report 2021, pages 57-58. Hemnet's assessment is that no other significant risks or uncertainties have arisen during the period.

About Hemnet

Hemnet operates the leading property platform in Sweden. The Company emerged as an industry initiative in 1998 and has since transformed into a "win-win" value proposition for the housing market. By offering a unique combination of relevant products, insights and inspiration, Hemnet has built lasting relationships with buyers, sellers, and agents for more than 20 years. Hemnet shares a mutual passion for homes with its stakeholders and is driven by being an independent go-to-place for people to turn to for the various housing needs that arise through life. This is mirrored in the Company's vision to be the key to your property journey, supplying products and services to improve efficiency, transparency and mobility on the housing market.

The key to your property journey

We increase efficiency, transparency and mobility on the housing market.

This report has not been subject to a review by Hemnet's auditor.

The Board of Directors and the CEO certify that the interim report for the period January - June 2022 gives a fair view of the performance of the business, position and profit or loss of the Company and the Group, and describes the principal risks and uncertainties that the Company and the companies in the Group face.

Håkan Erixon Chair

Cecilia Beck-Friis CEO

Christopher Caulkin Member of the board

Anders Edmark Member of the board

Tracey Fellows Member of the board

Håkan Hellström Member of the board

Maria Redin Member of the board

Nick McKittrick Member of the board

Pierre Siri Member of the board

Stockholm, 21 July, 2022 Hemnet Group AB (publ)

Condensed consolidated income statement

	Apr-Jun		Jan-Jun		Last twelve months	FY
(SEK million)	2022	2021	2022	2021	ending Jun 2022	2021	(SEK million)	2022-06-30	2021-06-30	2021-12-31
Net sales 2	269.7	212.5	449.3	355.0	822.4	728.1	ASSETS
Other operating income	0.8	0.3	1.3	0.6	2.5	1.8	Intangible assets	1,947.5	2,005.2	1,971.6
Total revenue	270.5	212.8	450.6	355.6	824.9	729.9	Other non-current assets	6.3	10.7	8.3
							Total non-current assets	1,953.8	2,015.9	1,979.9
Capitalised development	2.9	1.2	5.4	3.8	6.2	4.6
							Current receivables	82.4	94.5	59.1
Other external expenses 3	-86.8	-96.9	-145.8	-177.2	-268.5	-299.9	Cash and cash equivalents	138.2	122.8	94.5
Personnel costs	-41.0	-33.6	-78.8	-64.9	-143.9	-130.0	Total current assets	220.6	217.3	153.6
Depreciation & amortisation	-17.8	-20.3	-35.5	-39.9	-74.6	-79.0	TOTAL ASSETS	2,174.4	2,233.2	2,133.5
Other operating costs	-0.3	-0.3	-0.6	-0.9	-1.4	-1.7
Total operating expenses	-145.9	-151.1	-260.7	-282.9	-488.4	-510.6	EQUITY AND LIABILITIES
Operating profit	127.5	62.9	195.3	76.5	342.7	223.9	Total equity (attributable to controlling interest)	1,576.1	1,403.2	1,516.9
Net financial items	-1.2	-16.8	-2.8	-22.0	-6.6	-25.8
Profit before taxes	126.3	46.1	192.5	54.5	336.1	198.1	Non-current interest-bearing liabilities	213.5	449.3	277.9
							Deferred tax liabilities	215.2	227.1	220.1
Income tax	-26.3	-10.0	-40.0	-11.7	-69.9	-41.6	Total non-current liabilities	428.7	676.4	498.0
Net profit for the period	100.0	36.1	152.5	42.8	266.2	156.5
Net profit attributable to	100.0	36.1	152.5	42.8	266.2	156.5	Current interest-bearing liabilities	2.6	5.6	5.2
controlling interest							Current non-interest-bearing liabilities	167.0	148.0	113.4
Other comprehensive income	-	-	-	-	-	-	Total current liabilities	169.6	153.6	118.6
Total comprehensive income	100.0	36.1	152.5	42.8	266.2	156.5	Total liabilities	598.3	830.0	616.6
							TOTAL EQUITY AND LIABILITIES	2,174.4	2,233.2	2,133.5
Earnings per share¹
before dilution, SEK	0.99	0.36	1.51	0.42	2.63	1.55
after dilution, SEK	0.99	0.36	1.51	0.42	2.63	1.55
Number of shares
Average before dilution		101,044,541 101,009,219		101,087,769 100,865,121	101,109,803	100,999,394
Average after dilution		101,044,541 101,195,780		101,087,769 101,164,430	101,126,943	101,180,647	¹The calculation of dilution of shares is made based on the number of days that the warrant programmes that have been active during each respective period. As no market price is available to set against the exercise price and the number of warrants is limited in relation to the number of ordinary shares, the dilution effect
Outstanding at period end		100,822,301 101,131,478		100,822,301 101,131,478	100,822,301	101,131,478	for periods before Hemnets IPO on 27 April, 2021, has been calculated based on the maximum theoretical dilution. For periods beginning after 27 April, 2021, the calculation of dilution is made based on the average share price during each respective period.

Condensed consolidated statement of financial position

Condensed consolidated statement of changes in equity Condensed consolidated statement of cash flow

	Jan-Jun		FY		Apr-Jun		Jan-Jun		FY
(SEK million)	2022	2021	2021	(SEK million)	2022	2021	2022	2021	2021
Equity, opening balance	1,516.9	1,349.6	1 349,6	Operating activities
Net profit for the period	152.5	42.8	156,5	Operating profit	127.5	62.9	195.3	76.5	223.9
Other comprehensive income	-	-	-	Adjustments for non-cash items	17.7	20.4	35.4	39.9	79.0
Total comprehensive income	152.5	42.8	156,5	Interest paid and received	-1.0	-6.6	-2.2	-11.6	-15.0
				Paid income tax	-12.1	-3.8	-39.0	-18.1	-49.6
Dividend distribution	-55.6	-	-	Cash flow from operating activities before changes in working capital	132.1	72.9	189.5	86.7	238.3
Repurchase of shares	-40.3	-	-
Share and warrant issues	3.5	16.8	16,8	Changes in working capital, net	9.2	3.3	24.5	1.3	-3.3
Share and warrant redemption	-0.7	-5.0	-5,0	Cash flow from operating activities	141.3	76.2	214.0	88.0	235.0
Issue expenses	-0.2	-1.0	-1,0
Total transactions with shareholders	-93.3	10.8	10,8	Investing activities
Equity, closing balance	1,576.1	1,403.2	1 516,9	Investments in intangible assets, net	-3.7	-1.4	-7.0	-5.2	-6.5
				Investments in tangible assets, net	-0.4	-0.1	-1.1	-0.3	-0.5
				Divestment of interest-bearing securities	-	-	-	24.7	24.7
				Cash flow from investing activities	-4.1	-1.5	-8.1	19.2	17.7
				Financing activities
				Borrowings	-	500.0	-	500.0	500.0
				Repayment of loans	-	-733.5	-65.0	-738.6	-908.6
				Amortisation of lease liabilities	-2.0	-1.8	-3.9	-3.7	-7.5
				Issue of shares and warrants	3.5	11.8	3.5	11.8	11.8
				Issue expenses	-0.2	-1.0	-0.2	-1.0	-1.0
				Warrant redemption	-0.7	-	-0.7	-	-
				Repurchase of shares	-40.3	-	-40.3	-	-
				Paid dividend	-55.6	-	-55.6	-	-
				Cash flow from financing activities	-95.3	-224.5	-162.2	-231.5	-405.3
				Net change in cash and cash equivalents	41.9	-149.8	43.7	-124.3	-152.6
				Cash and cash equivalents, beginning of period	96.3	272.6	94.5	247.1	247.1
				Cash and cash equivalents, end of period	138.2	122.8	138.2	122.8	94.5

Condensed parent company income statement Condensed parent company balance sheet

Parent company statement of comprehensive

		Apr-Jun		Jan-Jun
(SEK million)	2022	2021	2022	2021	2021	(SEK million)	2022-06-30	2021-06-30	2021-12-31
Net sales	1.9	1.2	4.9	3.5	5.6	ASSETS
Total revenue	1.9	1.2	4.9	3.5	5.6	Non-current assets	1,417.0	1,146.6	1,660.0
						Current assets	64.8	477.2	21.6
Other external costs	-2.5	-26.6	-5.4	-50.1	-53.4	TOTAL ASSETS	1,481.8	1,623.8	1,681.6
Personnel costs	-1.8	-1.1	-2.8	-2.1	-5.7
Other operating costs	-	0.1	-	-0.1	-0.2	EQUITY AND LIABILITIES
Total operating expenses	-4.3	-27.6	-8.2	-52.3	-59.3	Equity
Operating profit/loss	-2.4	-26.4	-3.3	-48.8	-53.7	Restricted equity	77.4	77.4	77.4
						Non-restricted equity	819.9	688.9	919.5
Net financial items	-1.3	-1.6	-2.9	-1.6	-5.5	Total equity	897.3	766.3	996.9
Profit before taxes	-3.7	-28.0	-6.2	-50.4	-59.2
						Non-current liabilities	213.5	447.4	277.9
Allocations - Group contributions	-	-	-	-	286.2	Current liabilities	371.0	410.1	406.8
Income tax	-	-	-	-	-46.8	Total liabilities	584.5	857.5	684.7
Net income (loss)	-3.7	-28.0	-6.2	-50.4	180.2	TOTAL EQUITY AND LIABILITIES	1,481.8	1,623.8	1,681.6

	Apr-Jun		Jan-Jun			FY
(SEK million)	2022	2021	2022	2021		2021
Net income (loss)	-3.7	-28.0	-6.2	-50.4		180.2
Other comprehensive income	-	-	-	-	-	-
Total comprehensive income for the period	-3.7	-28.0	-6.2	-50.4		180.2

Notes

Note 1 Accounting principles

The Parent company, Hemnet Group AB (publ), applies the Swedish Annual Accounts Act and the Swedish Financial Reporting Board's recommendation (RFR 2), accounting for legal entities. The accounting principles are consistent with those of the previous year and, where applicable, with the Group's accounting principles.

Amounts are expressed in SEK million unless stated otherwise. Amounts and figures in brackets refer to comparative figures for the corresponding period last year. In some cases, roundings have been made, which means that tables and calculations do not always sum up exactly.

Note 2 Net sales

This report has been prepared in accordance with IAS 34, Interim Financial Reporting, International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and Interpretation Statements of the International Financial Reporting Interpretations Committee (IFRIC) as adopted by the EU. The Group applies the same accounting principles as described in Note 1 in the annual report for 2021 and no new or IFRS or IFRIC interpretations that have not yet come into force are expected to have a material impact on the Group. Net sales from external customers by customer category and service category: Net sales by customer category Jan-Jun Apr-Jun

Revenues are in their entirety attributable to services rendered to private individuals and companies. Property sellers revenue consists of sales to consumers, while Real estate agents, Real estate developers and Advertisers represent sales to business customers. Revenue is recognized over time as performance obligations are fulfilled. The revenues are almost entirely attributable to Swedish customers.

The categorising per service has been updated from the Q1 report 2022 and now consists of Listings services and Other services. The new category Listing services consists of (i) what in previous reports was called Listing fees, as well as (ii) the part of the previous category Valueadded services that related to publishing of listings (Hemnet Plus, Hemnet Premium, Raketen, Förnya annons). The new category Other services consists of (i) what in previous reports was called Advertising and other, as well as (ii) the remaining part of the previous category Value-added services.

Net sales by customer category		Apr-Jun		Jan-Jun		Last twelve months	FY
	(SEK million)	2022	2021	2022	2021	ending Jun 2022	2021
	Property sellers	200.0	145.7	320.8	227.8	575.3	482.3
	Real estate agents	32.4	24.8	59.1	48.1	106.4	95.4
	Real estate developers	13.6	15.5	25.4	30.1	49.7	54.4
	Advertisers	23.7	26.5	44.0	49.0	91.0	96.0
	Total net sales	269.7	212.5	449.3	355.0	822.4	728.1

Net sales by service category	Apr-Jun Jan-Jun			Last twelve months	FY
(SEK million)	2022	2021	2022	2021	ending Jun 2022	2021
Listing related services	209.2	152.0	336.2	239.9	604.6	508.3
Other services	60.5	60.5	113.1	115.1	217.8	219.8
Total net sales	269.7	212.5	449.3	355.0	822.4	728.1

Note 3 Other external expenses

Administration and commission compensation refers to compensation to real estate agent offices regarding administration of property listings on Hemnet's platform and, for real estate agent offices having entered into a commission agreement regarding sale of Hemnet's value-added services, commission.

Note 4 Financial instruments

Hemnet's financial instruments consist mainly of accounts receivables, other current receivables, liabilities to credit institutions, accounts payable and accrued expenses.

Liabilities to credit institutions carries a floating interest that is estimated in all material respects to correspond to current market rate, whereby fair value is deemed to approximately correspond to booked value adjusted for accrued borrowing costs (level 2). For other financial assets and liabilities, their book values are an approximation of fair value, why these items are not split according to the fair value hierarchy.

Note 5 Related party transactions

Transactions with related parties and management incentive program are described in notes G28 and G8 in the annual report for 2021.

Agreement with Svensk Fastighetsförmedling AB ("Svensk Fastighetsförmedling") regarding mediation of Hemnets advertising services

Hemnet has entered into an agreement with Svensk Fastighetsförmedling regarding mediation and coordination of display and native campaigns.

In other respects, the scope and focus of these transactions did not change significantly during the period.

Note 6 Significant events after the end of the period

No material events have occurred after the reporting period which have had a material impact on the operation or assumptions and assessments used in preparation of this report.

	Apr-Jun		Jan-Jun		Last twelve months	FY
(SEK million)	2022	2021	2022	2021	ending Jun 2022	2021
Administration and commission compensation	-57.7	-42.8	-92.6	-74.3	-168.4	-150.1
Other external expenses	-29.1	-54.1	-53.2	-102.9	-100.1	-149.8
Total	-86.8	-96.9	-145.8	-177.2	-268.5	-299.9

	Apr-Jun		Jan-Jun		Last twelve months	FY
(SEK million, unless stated otherwise)	2022	2021	2022	2021	ending Jun 2022	2021
EBITDA	145.3	83.2	230.8	116.4	417.3	302.9
EBITDA margin, %	53.9%	39.2%	51.4%	32.8%	50.7%	41.6%
Adjusted EBITDA	145.3	110.9	230.8	168.1	417.7	355.0
Adjusted EBITDA margin, %	53.9%	52.2%	51.4%	47.4%	50.8%	48.8%
Operating profit	127.5	62.9	195.3	76.5	342.7	223.9
Operating margin, %	47.3%	29.6%	43.5%	21.5%	41.7%	30.8%
Net profit for the period	100.0	36.1	152.5	42.8	266.2	156.5
Profit margin %	37.1%	17.0%	33.9%	12.1%	32.4%	21.5%
Earnings per share, basic, SEK	0.99	0.36	1.51	0.42	2.63	1.55
Earnings per share, diluted, SEK	0.99	0.36	1.51	0.42	2.63	1.55
ARPL (average revenue per listing), SEK	3,163	2,363	2,963	2,171	2,893	2,467
Net debt	77.9	332.1	77.9	332.1	77.9	188.6
Net debt/EBITDA (LTM), times	0.2	1.5	0.2	1.5	0.2	0.6
Net debt/Adjusted EBITDA (LTM), times	0.2	1.2	0.2	1.2	0.2	0.5
Debt/Equity ratio, times	0.1	0.3	0.1	0.3	0.1	0.2
Equity/Assets ratio, %	72.5%	62.8%	72.5%	62.8%	72.5%	71.1%
Cash conversion, %	102.5%	105.8%	102.5%	105.8%	102.5%	97.1%
Number of published listings during the period, thousand	64.5	62.5	110.2	106.5	202.1	198.4
Number of employees at period end	121	115	121	115	121	112

Apr-Jun		Jan-Jun	Last twelve months	FY

See pages 17-19 for derivation and definitions.

Group key ratios

Derivation of alternative performance measures

Certain statements and analyses presented in this interim report include alternative performance measures (APMs) that are not defined by IFRS. The company believes that this information, together with comparable defined IFRS metrics, are useful to investors as they provide a basis for measuring operating profit and ability to repay debt and invest in operations. Corporate management use these financial measurements, along with the most directly comparable financial metrics under IFRS, to evaluate operational results and value added. The APMs should not be assessed in isolation from, or as a substitute for, financial information presented in the financial statements in accordance with IFRS. The APMs reported need not necessarily be comparable to similar metrics presented by other companies. The reconciliations are presented in the tables below.

	Apr-Jun		Jan-Jun		Last twelve months	FY
(SEK million, unless stated otherwise)	2022	2021	2022	2021	ending Jun 2022	2021
Operating profit	127.5	62.9	195.3	76.5	342.7	223.9
Depreciation & amortisation	17.8	20.3	35.5	39.9	74.6	79.0
EBITDA	145.3	83.2	230.8	116.4	417.3	302.9
Net sales	269.7	212.5	449.3	355.0	822.4	728.1
EBITDA margin, %	53.9%	39.2%	51.4%	32.8%	50.7%	41.6%
EBITDA	145.3	83.2	230.8	116.4	417.3	302.9
Items affecting comparability:
Advertising revenue	-	-2.0	-	-4.0	-1.7	-5.7
Marketing costs	-	3.8	-	6.4	2.7	9.1
Consultant costs	-	25.9	-	49.3	-0.6	48.7
Adjusted EBITDA	145.3	110.9	230.8	168.1	417.7	355.0
Net sales	269.7	212.5	449.3	355.0	822.4	728.1
Adjusted EBITDA margin, %	53.9%	52.2%	51.4%	47.4%	50.8%	48.8%
Operating profit	127.5	62.9	195.3	76.5	342.7	223.9
Net sales	269.7	212.5	449.3	355.0	822.4	728.1
Operating margin, %	47.3%	29.6%	43.5%	21.5%	41.7%	30.8%

	Apr-Jun Jan-Jun			Last twelve months	FY
(SEK million, unless stated otherwise)	2022	2021	2022	2021	ending Jun 2022	2021
Net sales	269.7	212.5	449.3	355.0	822.4	728.1
Revenue not arising from published listings	-65.6	-64.9	-122.7	-123.9	-237.6	-238.8
Revenue from published listings	204.1	147.6	326.6	231.1	584.8	489.3
Number of published listings, thousands	64.5	62.5	110.2	106.5	202.1	198.4
ARPL, SEK	3,163	2,363	2,963	2,171	2,893	2,467
Non-current interest-bearing liabilities	213.5	449.3	213.5	449.3	213.5	277.9
Current interest-bearing liabilities	2.6	5.6	2.6	5.6	2.6	5.2
Cash and cash equivalents, including current interest-bearing securities	138.2	122.8	138.2	122.8	138.2	94.5
Net debt	77.9	332.1	77.9	332.1	77.9	188.6
EBITDA, LTM	417.3	221.6	417.3	221.6	417.3	302.9
Net debt/ LTM EBITDA, times	0.2	1.5	0.2	1.5	0.2	0.6
Net debt	77.9	332.1	77.9	332.1	77.9	188.6
Adjusted EBITDA, LTM	417.7	279.4	417.7	279.4	417.7	355.0
Net debt/ LTM adjusted EBITDA, times	0.2	1.2	0.2	1.2	0.2	0.5
Equity	1,576.1	1,403.2	1,576.1	1,403.2	1,576.1	1,516.9
Total assets	2,174.4	2,233.2	2,174.4	2,233.2	2,174.4	2,133.5
Equity/Assets ratio, %	72.5%	62.8%	72.5%	62.8%	72.5%	71.1%
Non-current interest-bearing liabilities	213.5	449.3	213.5	449.3	213.5	277.9
Current interest-bearing liabilities	2.6	5.6	2.6	5.6	2.6	5.2
Total interest-bearing liabilities	216.1	454.9	216.1	454.9	216.1	283.1
Equity	1,576.1	1,403.2	1,576.1	1,403.2	1,576.1	1,516.9
Debt/Equity ratio, times	0.1	0.3	0.1	0.3	0.1	0.2
Adjusted EBITDA, LTM	417.7	279.4	417.7	279.4	417.7	355.0
Decrease / (Increase) in net working capital, LTM	19.9	0.4	19.9	0.4	19.9	-3.3
Capital expenditures, LTM	-9.6	15.7	-9.6	15.7	-9.6	-7.0
Free cash flow, LTM	428.0	295.5	428.0	295.5	428.0	344.7
Adjusted EBITDA, LTM	417.7	279.4	417.7	279.4	417.7	355.0
Cash conversion, %	102.5%	105.8%	102.5%	105.8%	102.5%	97.1%

Definitions

Alternative Performance Measures (APMs) are financial measures of historical or future financial performance, financial position or cash flows that are not defined in applicable accounting regulations (IFRS). These measures are not directly comparable to similar key ratios presented by other companies.

Average revenue per listing, calculated as revenue from home sellers published listings including related value-added products

This measure enables comparison of profitability over time, regardless of depreciation of tangible and right-of-use assets as well as amortisation of intangible assets, and independent of taxes and the company's financing structure. The measure is also adjusted for

The measure reflects the business's operating profitability before depreciation of tangible and right-of-use assets as well as amortisation of intangible assets. The measure is an important component, together with net sales growth, to follow the company's value creation. The measure is also adjusted for the impact of items affecting comparability to increase comparability over time.

Alternative key ratio	Definition
ARPL (Average revenue per listing)	during the period, in relation to the number of published listings during the period. It is a measure that shows the company's earning capacity per published listing.
Adjusted EBITDA	EBITDA adjusted for items affecting comparability. the impact of items affecting comparability to increase comparability over time.
Adjusted EBITDA-margin	Adjusted EBITDA in relation to net sales.
Cash conversion	and dividends, with the exception of interest-related cash flows.
Debt/Equity ratio	Interest-bearing liabilities in relation to total equity.
EBITDA (earnings before interest, taxes, depreciation and amortisation)	intangible assets, as well as independent of taxes and the company's financing structure.

Free cash flow in relation to adjusted EBITDA. Free cash flow is defined as adjusted EBITDA, adjusted for changes in working capital and reduced with investments in tangible and intangible assets. The measure is always calculated for the last twelve month period.

This measure shows the percentage of profit that is converted into cash flow. The purpose is to analyse what percentage of earnings can be converted into cash and cash equivalents and, in the longer term, the opportunity for investments, acquisitions

The measure shows the relation between the Company's two forms of financing. The measure shows how large a share the debt financing has in relation to the owners' invested capital. The measure reflects the financial strength, but also the leverage effect of the debt. A higher debt/equity ratio means a higher financial risk and a higher financial leverage on invested capital.

Operating profit plus depreciation of tangible and right-of-use assets as well as amortisation of intangible assets.

The measure enables comparison of profitability over time, regardless of depreciation of tangible and right-of-use assets as well as amortisation of intangible assets, as well as independent of taxes and the company's financing structure.

The measure reflects the business's operating profitability before depreciation of tangible and right-of-use assets as well as amortisation of intangible assets. The measure is an important component, together with net sales growth, to follow the company's value creation.

The measure reflects the Company's financial position. A high equity/assets ratio provides a readiness to be able to handle periods of weak economic growth. At the same time, a higher equity/assets ratio creates a lower financial leverage.

Alternative key ratio	Definition
EBITDA-margin	EBITDA in relation to net sales. The measure reflects the business's operating profitability before depreciation of tangible and right-of-use assets as well as amortisation of intangible assets. The measure is an important component, together with net sales growth, to follow the company's value creation.
Equity/Assets ratio	Total equity in relation to total assets. The measure reflects the Company's financial position. A high equity/assets ratio provides a readiness to be able to handle periods of weak economic growth. At the same time, a higher equity/assets ratio creates a lower financial leverage.
Interest-bearing liabilities	Interest-bearing liabilities consists of debt to credit institutions and leasing debt.
Items affecting comparability	Items affecting comparability include revenue and expenses that do not arise regularly in the operating activities. A separate disclosure of items affecting comparability clarifies the development of the underlying business.
Net financial items	Financial income less financial expenses. The measure reflects the company's financial activities.
Net debt	Interest-bearing liabilities less cash and cash equivalents and current interest-bearing securities. Net debt is a measure used to follow the development of debt and the size of the refinancing need. Since cash and cash equivalents can be used to pay off debt at short notice, net debt is used instead of gross debt as a measure of the total loan financing.
Net debt/EBITDA Net debt/adjusted EBITDA	Interest-bearing liabilities less cash and cash equivalents and current interest-bearing securities in relation to EBITDA or adjusted EBITDA. The measure is a debt ratio that shows how many years it would take to pay off the company's debt, provided that its net debt and EBITDA or adjusted EBITDA are constant and without taking into account the cash flows regarding interest, taxes and investments.
Operating margin	Operating profit/loss in relation to net sales. The measure reflects the operational profitability of the business. The measure is an important component, together with net sales growth, to follow the company's value creation.
Operating profit/loss	Total revenue less total operating expenses. The measure indicates the company's operation profit/loss before financing and taxes and is used to measure the profit generated by operating activities.
Profit margin	Net profit in relation to net sales. The measure indicates the company's profit after financing and taxes and is used to measure the profit generated by operating activities.

Net debt is a measure used to follow the development of debt and the size of the refinancing need. Since cash and cash equivalents can be used to pay off debt at short notice, net debt is used instead of gross debt as a measure of the total loan financing.

Interest-bearing liabilities less cash and cash equivalents and current interest-bearing securities in relation to EBITDA or adjusted EBITDA.

The measure is a debt ratio that shows how many years it would take to pay off the company's debt, provided that its net debt and EBITDA or adjusted EBITDA are constant and without taking into account the cash flows regarding interest, taxes and investments.

The measure reflects the operational profitability of the business. The measure is an important component, together with net sales growth,

The measure indicates the company's operation profit/loss before financing and taxes and is used to measure the profit generated by

The measure indicates the company's profit after financing and taxes and is used to measure the profit generated by operating activities.

(SEK million)	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2
Net sales	144.2	141.9	142.7	142.5	212.5	195.8	177.3	179.6	269.7
Other operating income	0.3	0.2	0.7	0.3	0.3	0.7	0.5	0.5	0.8
Total revenue	144.5	142.1	143.4	142.8	212.8	196.5	177.8	180.1	270.5
Capitalised development	0.5	0.9	1.4	2.6	1.2	0.3	0.5	2.5	2.9
Other external costs	-67.9	-57.2	-64.1	-80.3	-96.9	-62.0	-60.7	-59.0	-86.8
Personnel costs	-27.1	-23.4	-36.9	-31.3	-33.6	-32.2	-32.9	-37.8	-41.0
Other operating expenses	-0.3	-0.3	-0.7	-0.6	-0.3	-0.5	-0.3	-0.3	-0.3
EBITDA	49.7	62.1	43.1	33.2	83.2	102.1	84.4	85.5	145.3
Depreciation & amortisation	-19.5	-19.4	-19.6	-19.6	-20.3	-19.4	-19.7	-17.7	-17.8
Operating profit	30.2	42.7	23.5	13.6	62.9	82.7	64.7	67.8	127.5
Net financial items	-6.0	-6.1	-5.5	-5.2	-16.8	-2.2	-1.6	-1.6	-1.2
Profit before taxes	24.2	36.6	18.0	8.4	46.1	80.5	63.1	66.2	126.3
Taxes	-5.2	-8.1	-4.1	-1.7	-10.0	-16.8	-13.1	-13.7	-26.3
Net profit for the period	19.0	28.5	13.9	6.7	36.1	63.7	50.0	52.5	100.0
Other comprehensive income	-	-	-	-	-	-	-	-	-
Total comprehensive income for the period	19.0	28.5	13.9	6.7	36.1	63.7	50.0	52.5	100.0

Consolidated quarterly financial information

2020		2021		2022

The table below presents the Group's condensed financial performance for the last nine quarters.

	2020				2021				2022
(SEK million, unless stated otherwise)	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2
Net sales	144.2	141.9	142.7	142.5	212.5	195.8	177.3	179.6	269.7
Net sales growth YoY, %	17.9%	27.4%	22.7%	23.6%	47.4%	38.0%	24.2%	26.0%	26.9%
EBITDA	49.7	62.1	43.1	33.2	83.2	102.1	84.4	85.5	145.3
EBITDA margin, %	34.5%	43.8%	30.2%	23.3%	39.2%	52.1%	47.6%	47.6%	53.9%
Adjusted EBITDA	54.4	63.3	48.0	57.2	110.9	102.3	84.6	85.5	145.3
Adjusted EBITDA margin, %	37.7%	44.6%	33.6%	40.1%	52.2%	52.2%	47.7%	47.6%	53.9%
Operating profit	30.2	42.7	23.5	13.6	62.9	82.7	64.7	67.8	127.5
Operating margin, %	20.9%	30.1%	16.5%	9.5%	29.6%	42.2%	36.5%	37.8%	47.3%
Net profit for the period	19.0	28.5	13.9	6.7	36.1	63.7	50.0	52.5	100.0
Profit margin, %	13.2%	20.1%	9.7%	4.7%	17.0%	32.5%	28.2%	29.2%	37.1%
ARPL (average revenue per listing), SEK	1,775	1,719	2,089	1,898	2,363	2,642	3,029	2,681	3,163
Net debt	496.7	465.4	415.1	407.5	332.1	255.7	188.6	121.5	77.9
Net debt/EBITDA LTM, times	2.9	2.5	2.2	2.2	1.5	1.0	0.6	0.3	0.2
Net debt/ Adjusted EBITDA (LTM), times	2.8	2.4	2.1	1.8	1.2	0.8	0.5	0.3	0.2
Debt/Equity ratio, times	0.5	0.5	0.5	0.5	0.3	0.3	0.2	0.1	0.1
Equity/Assets ratio, %	55.4%	56.4%	56.9%	56.7%	62.8%	66.4%	71.1%	73.8%	72.5%
Cash conversion, %	91.1%	90.8%	97.2%	107.3%	96.9%	98.7%	97.1%	101.8%	102.5%
Number of published listings during the period, thousand	52.6	49.5	40.4	44.0	62.5	52.1	39.8	45.7	64.5
Number of employees at period end	102	104	108	111	115	113	112	121	121

Group key ratios by quarter

22

Hemnet Interim report Q2

For further information, please contact:

CFO Carl Johan Åkesson Phone: +46 708 30 70 57 Email: cj.akesson@hemnet.se

IR Manager Nick Lundvall Phone: +46 761 45 21 78 Email: nick.lundvall@hemnet.se

Financial calendar

20 October, 2022 Interim report, Q3 2022 27 January, 2023 Year-end report 2022

Address

Klarabergsgatan 60 111 21 Stockholm

Contact

Phone: +46 8 509 068 00 Email: ir@hemnet.se https://www.hemnetgroup.se

Presentation of the interim report

Hemnet invites analysts, investors and media to participate in the results presentation of the second quarter on 21 July, 2022 at 10:00 CET. The results will be presented by CEO Cecilia Beck-Friis and CFO Carl Johan Åkesson. The presentation will be held in English, followed by a Q&A session. Participants are welcome to join via the link or phone, see details below.

Dial-in numbers:

Sweden: +46 8 505 163 86 UK: +44 20 31 98 48 84 US: +1 41 23 17 63 00

Webcast link: https://tv.streamfabriken.com/hemnet-q2-2022

Publication

This is information that Hemnet Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, on 21 July, 2022 at 08:00 CET.