CDON Ab (CDON) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the CDON Q1 2026 earnings presentation. We are joined today by Fredrik Norberg, CEO and Karl Andersson, CFO. Welcome, gentlemen. Thank you. Thank you and welcome to this earnings call and at a new time, early hours and we will continue with this new time going forward as well. Together with me today as usual we have our CFO Karl Andersson who will dig into the numbers later on. First, a little bit summary of who we are. We are one of the leading marketplaces in the Nordics, having 3 million active customers with 100 million annual visits. We are operating two segments, Cedion and Fyndik, with an asset-light and scalable business model. And we are operating in a highly attractive market with large potential where we can see an anomaly in the Nordics compared to the rest of the world in how you shop online, where we shop much less online through marketplaces in the Nordics. And that we want to change, of course. To summarize the quarter, we have a solid start of the year. We continue a solid growth from our last quarter. We have 14% in GMV growth and 9% in GPAM growth. We continue with a positive EBITDA trajectory and rolling 12 months we have an EBITDA of 27 million SEK. And now really happy to show that our European giants have begun to show their really good potential. And ending this quarter, 5% of our CDON's GMV consists of GMV from these giants. And really happy to also report that our growth initiatives are running according to plan. And we expect to see some scaling in that area through next quarter. So our GMV ended up just below 400 million SEC, plus 14% versus last year. Our gross profit after marketing, our main KPI, was plus 9% versus last year, ending on 42 million SEC. And our EBITDA ended on minus 2.8 million SEC compared to ...