Hemnet Group Interim report Q2 2026
Summary by AI BETAClose X
Summary for the period April-June 2026
- Net sales decreased by 23.1 per cent to SEK 371.7m (483.5)
- EBITDA decreased 33.9 per cent to SEK 172.4m (260.9)
- Operating profit decreased 37.1 per cent to SEK 149.4m (237.7)
- ARPL (average revenue per paid listing) increased 12.4 per cent to SEK 9,095 (8,089)
Summary for the period January-June 2026
- Net sales decreased by 23.8 per cent to SEK 618.9m (812.0)
- EBITDA decreased 37.5 per cent to SEK 261.7m (418.4)
- Operating profit decreased 42.4 per cent to SEK 214.8m (372.7)
- ARPL (average revenue per paid listing) increased 12.3 per cent to SEK 9,101 (8,102)
- On June 22, Hemnet announced that Peter Messner was appointed as the new CFO. He will assume his position on July 20, succeeding Anders Örnulf
| Apr-Jun | Jan-Jun | Last twelve months | FY | |||||
| (SEK million, unless stated otherwise) | 2026 | 2025 | Change | 2026 | 2025 | Change | ending Jun 2026 | 2025 |
| Net sales | 371.7 | 483.5 | -23.1% | 618.9 | 812.0 | -23.8% | 1,333.7 | 1,526.8 |
| EBITDA* | 172.4 | 260.9 | -33.9% | 261.7 | 418.4 | -37.5% | 610.8 | 767.5 |
| EBITDA margin*, % | 46.4% | 54.0% | -7.6 pp | 42.3% | 51.5% | -9.2 pp | 45.8% | 50.3% |
| Operating profit* | 149.4 | 237.7 | -37.1% | 214.8 | 372.7 | -42.4% | 515.9 | 673.8 |
| Profit after tax | 113.3 | 185.0 | -38.8% | 161.6 | 287.9 | -43.9% | 394.3 | 520.6 |
| Earnings per share, before dilution, SEK¹ | 1.24 | 1.95 | -36.4% | 1.75 | 3.02 | -42.1% | 4.22 | 5.49 |
| Earnings per share, after dilution SEK¹ | 1.24 | 1.94 | -36.1% | 1.75 | 3.02 | -42.1% | 4.22 | 5.48 |
| Cash flow from operating activities | 164.1 | 229.2 | -28.4% | 230.0 | 349.9 | -34.3% | 478.2 | 598.1 |
| ARPL (average revenue per paid listing)*, SEK | 9,095 | 8,089 | 12.4% | 9,101 | 8,102 | 12.3% | 8,630 | 8,158 |
| Number of paid listings during the period, thousands | 32.9 | 50.5 | -34.9% | 58.4 | 91.7 | -36.3% | 127.3 | 160.7 |
| Number of published listings during the period, thousands | 43.3 | 50.5 | -14.3% | 71.9 | 91.7 | -21.6% | 140.8 | 160.7 |
* Alternative Performance Measure, see pages 16-18 for derivation and definitions.
¹ The calculation of dilution of shares is made based on the number of days that the incentive programmes that have been active during each respective period.
² The definition of ARPL has been changed as of Q1 2026. Comparative figures for historical periods have been restated. See Note 1 for further information.
Chief Executive’s Comments
Sequential listing volume improvement in a transitional quarter
During the second quarter, we saw a sequential improvement in listing volumes supported by the rollout of our ‘Sell first, pay later’ model. Total published listings decreased by 14% year-on-year, showing a clear improvement compared to the decline of 31% in Q1. Meanwhile, Average revenue per paid listing (ARPL) increased by 12% year-on-year to SEK 9,095. This sustained demand for our value-added services underscores the value home sellers and agents see in Hemnet for maximising marketing impact.
The financial outcome of the second quarter reflected an expected transitional phase following the nationwide rollout of ‘Sell first, pay later’. Net sales amounted to SEK 372 million, a decline of 23% year-on-year, while EBITDA decreased by 34% to SEK 172 million, corresponding to an EBITDA margin of 46.4%. As revenue for listings with the ‘Sell first, pay later’ model is recognised upon final sale rather than publication, Q2 absorbs the peak financial impact of this timing shift before the platform benefits from a mature pipeline of completions.
Looking at the property market, recovery is moving slightly slower than anticipated at the start of the year. However, eased credit restrictions and increased economic activity are giving consumers the confidence to move forward. As buyers and sellers meet at an increasing rate, the total housing inventory is reducing, providing a positive signal for the months ahead.
B2B resilience and deeper industry partnerships
Our B2B revenue remained in line with the previous year. The stable performance was driven by a solid development within our sales to property developers and other advertisers, particularly banks, which offset the volume-driven impact on our available advertising inventory.
We continue to deepen our collaboration with our real estate agent partners, with strategic partnerships across agency chains and brand owners now exceeding one hundred. To support these intensified industry collaborations, we are continuously investing in our sales and support teams, with our new Customer Success function driving closer relations and alignment with agents. This allows us to proactively help our partners and clients unlock the full potential of our tools and products, ensuring they get the maximum value out of their cooperation with Hemnet.
Capturing more listings and at an earlier stage to reinforce market leadership
Recently published data from Statistics Sweden (SCB) shows that 82% of sold properties in Sweden during 2025 were advertised on Hemnet at some point during their sales cycle. While this confirms that home sellers and agents continue to rely on Hemnet to access Sweden’s largest buyer audience, the decrease from previous years underscores a shift in agent and consumer behaviour where more properties have been sold before sellers invest in the benefits of broad marketing.
We are not satisfied with this development. Hemnet’s core value proposition relies on gathering all buyers and sellers in one place, as this complete overview is how we create maximum value for the market. Therefore, the strategic initiatives we have so far launched during the year have been specifically designed to capture more listings and at an earlier stage. Our “Sell first, pay later” model, which removes upfront financial barriers, has been very well received, with between 40 and 45% of property sellers currently choosing this option. In parallel, our recently launched “Under the Radar” (Underhand) initiative integrates Hemnet into the earlier phases of the transaction lifecycle through our strategic partnerships with real estate agent chains and brand owners, allowing properties to be showcased to our logged-in users before reaching the wider public market. By more effectively meeting the needs of agents and sellers in this earlier phase, we enhance the value of Hemnet at the very start of the selling journey. While these initiatives are vital first steps, we recognise that more is required to drive our platform’s evolution, and we are preparing the next phase of our strategic and product rollout.
Uniquely positioned to capture the full potential of a market in change
With nearly 40 million monthly sessions and exceptional brand awareness of 97%[1] among property sellers, Hemnet is the go-to marketplace in Sweden for properties for sale, generating around four times more sessions per published listing than the nearest competitor[2]. Backed by this unmatched audience reach, our deeply rooted industry relationships, and accelerated product development, we have all the necessary prerequisites to grow our business and deliver maximum value at every stage of the property journey for our consumers, real estate agents, and ultimately our shareholders.
Showing all listings from the absolute beginning of the transaction lifecycle is our highest priority. To achieve this objective we are operating with a sharper strategic focus than ever, working with an accelerated pace to announce and deliver the next wave of strategic initiatives as we approach the cyclical listing peak of the autumn.
Jonas Gustafsson
CEO
July 2026
¹Nepa, 2026.
²Total sessions divided by the number of published listings on the platform in 2025, competitor data sourced from booli.se/annonsering and ‘Här är bostäderna som sticker ut just nu’.
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Hemnet Group AB announces its results for Q2 2026 on Friday, July 17th at 08.00 CET.
In connection with the report, Hemnet's CEO Jonas Gustafsson and CFO Anders Örnulf will present the results at 10:00 CET. As previously communicated, this is an extended presentation featuring a strategic, in-depth update. It will include a product and commercial update from Hemnet’s COO Lisa Farrar, an in-depth review from CTO Hanna Lindqvist regarding the company's AI strategy, as well as a half-year update on the housing market.
With this expanded format, the full session, including Q&A, is expected to last approximately two hours. The presentation will be held in English.
The presentation can be viewed live via the link below.
https://events.inderes.com/hemnet/q2-in-depth-update-2026
If you wish to participate via teleconference please register on the link below. After registration you will be provided with phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://events.inderes.com/hemnet/q2-in-depth-update-2026/dial-in
The report and presentation material will be available on hemnetgroup.com.
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For more information please contact:
Press enquiries
Jessica Sjöberg, Chief Communication Officer
M: +46 730689933
E: jessica.sjoberg@hemnet.se
Staffan Tell, Head of PR
M: +46 733 67 66 85
E: staffan.tell@hemnet.se
IR enquiries
Ludvig Segelmark, Head of IR
M: +46 702 50 14 40
E: ludvig.segelmark@hemnet.se
About Hemnet
Hemnet operates the leading property platform in Sweden. The company emerged as an industry initiative in 1998 and has since transformed into a "win-win" value proposition for the housing market. By offering a unique combination of relevant products, insights and inspiration, Hemnet has built lasting relationships with buyers, sellers, and agents for more than 20 years. Hemnet shares a mutual passion for homes with its stakeholders and is driven by being an independent go-to-place for people to turn to for the various housing needs that arise through life. This is mirrored in the Company’s vision to be the key to your property journey, supplying products and services to improve efficiency, transparency and mobility on the housing market. Hemnet’s is listed on Nasdaq Stockholm (‘HEM’).
Follow us: hemnetgroup.com / Facebook / LinkedIn / Instagram
[1] Nepa, 2026
[2] Total sessions divided by the number of published listings on the platform in 2025, competitor data sourced from booli.se/annonsering and ‘Här är bostäderna som sticker ut just nu’
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