Hemnet Group AB (HEM) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and a warm welcome to this 2026 Q1 release call for Hemnet Group. My name is Jonas Gustafsson and I'm the Group CEO of Hemnet. With me here on my side today at our headquarters in Stockholm, I have our Chief Financial Officer Anders Örnull and our Head of Investor Relations Ludvig Segelmark. As usual, we will go through the presentation that was published on our website earlier this morning during today's session. I will kick it off with a summary of the main highlights during the first quarter. Thereafter, under show notes, we'll cover the financial details before I will come back in the end to wrap up today's session. As always, there will be opportunities to ask questions at the end of the presentation. Today's session will be moderated by our operators, so please follow the operator's instructions to ask questions through the provided dial-in details. So with that, let's get started and let's move on to the next slide, please. Net sales declined by 24.7% in Q1, driven by weak listing volumes throughout the first quarter. Sales were also negatively impacted by a timing shift in revenue recognition related to the rollout in the new commercial proposition and payment model, sell first, pay later, in which we recognize revenues first when properties are sold. 2026 financials will be impacted by self-first pay later as the new proposition has gradually been introduced, complicating year-on-year comparisons. Published listings declined by 30.7% and amounted to 28.6 thousand listings. Paid listings amounted to 25.4 thousand, with the difference between paid and published listings being explained by some 3.2 thousand sell-first-pay-later listings that were published but not yet sold in the quarter. ARPL, average revenue per listing, grew by 12.2% in...