Vend Marketplaces Asa B (SBBTF) Q2 2020 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to SHRIPSET ASA Q2 2020 conference call and Q&A. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Jan Bajot, MINECA Head of IOR. Please go ahead, sir. Good afternoon. Thank you for joining us today for the Q&A session for our Q2 results. On the call with me today is our CEO, Kristin Skogenlund, our CFO, Ragnar Korhuis, and our EVP for Nordic Marketplaces and CEO for Finn, Kristian Plintsel-Halvorsen. This morning, we held our webcast presentation for the Q2 results, and the recording is available on our IA website. And with that, I would like to hand over to Kristin. Thank you, Jan Boye, and welcome, everyone. I am pleased to report that we, despite the COVID-19, delivered solid financial results this quarter, and our measures enable us to safeguard our employees and continue to deliver fully functional and relevant services to our customers through this time. During the second quarter, revenues have improved, and EBTA for Shipstead, excluding Aravinta, was knocked down. 498 million, which is significantly better than the first quarter. Furthermore, I'm excited that we have come to an agreement with Sanoma to acquire their Finnish multivertical online marketplace Oikotie. And with this acquisition, we strengthen our position in jobs and real estate in Finland, and we are confident that this acquisition will help us create more value for all our stakeholders going forward. During the second quarter, our Nordic marketplaces have seen a revenue decline driven by lower volumes, specifically in April and May, while temporary cost savings secured still solid margins. In June, volumes have continued to recover in all verticals, and motor seems to be rather resilient, actually, showing year-on-year volum...