Vend Marketplaces Asa B (SBBTF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and thank you for joining our Q1 2026 results. My name is Jan Boje, and I'm heading Investor Relations at Vendt. And you're probably aware that last week we shared a trading update for our Q1 results, including a revised mobility outlook for revenues for 2026, an updated cost outlook and preliminary figures for the first quarter. With today's presentation, we will provide the full context for the quarter. And as usual, we have our CEO Christian and our CFO PC here, who will walk you through the performance and the key highlights. Following the presentation, we will then have a Q&A session with financial analysts through Microsoft Teams. And before I hand over to Christian, let me just quickly show you also our disclaimer slide. And with this, Christian, the floor is yours. Thank you so much, Jan Boye, and good morning, everyone. In our annual report, I described 2025 as the year where Vend took shape as a focused pure play marketplace company. And I think that the first quarter of 2026 demonstrates the strength of the foundation that we have built. Group revenues ended at 1,543 million, which is up 2%. If you look at the revenues across our four verticals, they grew 10%, while group revenues were impacted by the phase-out of transitional service revenues. Group EBTA improved by 36% to 563 million, and the margin expanded to 36% from 27% one year ago. This is a reflection of the sustained cost discipline and the positive development that we have seen across our verticals. Real estate had a particularly strong quarter, where we saw ARPA growth driving both revenue and profitability across real estate. Jobs also delivered solid growth, supported by strong ARPA development. And real commerce showed really encouraging progress with strong transactional growt...