Vend Marketplaces Asa B (SBBTF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to our Q2 results presentation this morning here from Oslo. My name is Jann-Boje and I'm heading Investor Relations at Vend. As usual, we have our CEO Christian in our CFO PC with us to walk you through the development and key performance in the quarter. Following the presentation, we will have an analyst Q&A session with Microsoft Teams. And before I hand over to Christian, let me just quickly walk you through the disclaimer slide. So our presentation includes forward-looking statements, and please refer for the full text on this slide for more information. And with this, Christian, the floor is yours. Thank you so much, Jann-Boje, and good morning, everyone. So, at the start of the year, I described Vend as now being a focused pure play marketplace company moving into full-scale execution. And our second quarter results demonstrate this execution through expanded profitability, accelerated cost management, and continued strategic progress. Group revenues ended at 1,696 million, that's flat year-on-year, or 2% up on a constant currency basis. Our four verticals increased by 10% in constant currency, and this was partly offset by the phase-out of transition service agreement revenues from the Shipstead split. Group EBTA increased by 16% to 674 million, with the margin expanding around 5 percentage points to now 40%. And this was driven by cost discipline and strong revenue development in real estate and e-commerce. Jobs continued to grow as monetization more than offset softer volumes. And in mobility, both Norway and our transactional businesses performed well, but Sweden remains affected by the ongoing platform stabilization, and Denmark by dealer adaptation to our new business model. On the strategic side, I will cover the platform transit...