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Hemnet Group Interim report Q3 2021

4 November 2021

 | Regulatory

Strong growth in net sales and adjusted EBITDA

Summary for the period July-September 2021

  • Net sales increased 38.0 percent to SEK 195.8m (141.9)
  • Adjusted EBITDA increased 61.6 percent to SEK 102.3m (63.3)
  • Operating profit increased 93.7 percent to SEK 82.7m (42.7)
  • Continued growth in number of published listings, that increased 5.3 percent compared to last year
  • ARPL, average revenue per listing, increased 53.7 percent to SEK 2,642 (1,719)  

Summary for the period January-September 2021

  • Net sales increased 37.2 percent to SEK 550.8m (401.4)
  • Adjusted EBITDA increased 75.5 percent to SEK 270.4m (154.1)
  • Operating profit increased 83.0 percent to SEK 159.2m (87.0)
  • New compensation model for real estate agent offices and segmented pricing model for Hemnet Bas launched on 1 March
  • Initial public offering (“IPO”) on Nasdaq Stockholm, Large Cap list on 27 April
  • Entered into a new SEK 500m revolving credit facility (“RCF”) on 27 April, and at the same time settled and repaid the previous credit facility

Financial summary

Jul-Sep Jan-Sep Last twelve months FY
(SEK million, unless stated otherwise) 2021 2020 Change 2021 2020 Change ending Sep 2021 2020
Net sales 195.8 141.9 38.0% 550.8 401.4 37.2% 693.5 544.1
Adjusted EBITDA* 102.3 63.3 61.6% 270.4 154.1 75.5% 318.4 202.1
Adjusted EBITDA-margin*, % 52.2% 44.6% 7.6 pp 49.1% 38.4% 10.7 pp 45.9% 37.1%
Operating profit* 82.7 42.7 93.7% 159.2 87.0 83.0% 182.7 110.5
Earnings per share, basic, SEK1 0.63 0.28 125.0% 1.06 0.53 100.0% 1.19 0.67
Earnings per share, diluted, SEK1 0.63 0.28 125.0% 1.05 0.53 98.1% 1.19 0.67

* Alternative Performance Measure, see pages 21-23 for derivation and definitions.


1 The calculation of dilution of shares is made based on a weighted average of the dilution from the warrant programmes that have been active during each respective period. As no market price is available to set against the exercise price and the number of warrants is limited in relation to the number of ordinary shares, the dilution effect for periods before Hemnets IPO on 27 April, 2021, has been calculated based on the maximum theoretical dilution. For periods after 27 April, 2021, the calculation of dilution is made based on the average share price during each respective period.

Chief Executive’s comments

Hemnet continues its growth journey with another strong result for the third quarter. Net sales increased by 38.0 percent to SEK 195.8m (141.9) and adjusted EBITDA increased by 61.6 percent to SEK 102.3m (63.3).

Revenue growth was mainly driven by our new pricing model for property sellers launched earlier in the year. I am also very pleased that an increasing number of customers chose to upgrade their listings to one of our enhanced packages. The average revenue per listing (ARPL) grew during the quarter by 53.7 percent to SEK 2,642 (1,719). Revenue was also helped by property sellers advertising more properties on Hemnet, up 5.3 percent YoY. Combined revenues from real estate agents, real estate developers and advertisers continue to grow, albeit at a slower pace.

We are continuously improving and developing functionality on Hemnet to add even more value for our customers, visitors and partners. During the quarter, we further improved the flow and experience for the growing number of visitors who choose to login to Mitt Konto (My Account). Going forward, we see great potential in an increasingly tailored experience on Hemnet and the increased benefits it brings to our visitors during their housing journey.

Another highlight of the quarter was that we were finally able to celebrate and recognise the extraordinary achievements among the country's real estate agents and developers at the second edition of Hemnet's Guldhemmet housing gala. Our hope is that a win here will not only be an honour, but also something that will help strengthen the winners' brands and provide new business opportunities.

As we continue to grow our capabilities and strive to be the very best employer it was gratifying to be named one of the three most gender equal companies on the stock exchange by the Allbright Foundation. Equally pleasing is that we are ranked fourth among brands in the media sector that people in Sweden would be most proud to work for.

I am very pleased to deliver this report with strong customer uptake of the Hemnet value-added services and positive effects from the new pricing and compensation models. We expect these trends to continue into the fourth quarter albeit with listing volumes reverting from the record levels in the last two quarters to a level in line with the same quarter last year.

Cecilia Beck-Friis
November 2021

The report and presentation material will be available on

In connection with the report, a webcast will be held at 10.00 CET where Hemnet's CEO Cecilia Beck-Friis and CFO Carl Johan Åkesson will be presenting and commenting on the results. A Q&A session will be held after the presentation. The presentation will be held in English.

The presentation can be viewed live on  where it also will be available afterwards.

If you want to ask questions after the presentation you will need to participate via telephone, call +46 8 566 42 705. More dial-in numbers with additional country codes are available on this link. Questions can also be sent in advance to [email protected].


For more information please contact: 

Press enquiries
Staffan Tell, Head of PR
M: +46 733 67 66 85
E: [email protected]

IR enquiries
Carl Johan Åkesson, CFO
M: +46 708 30 70 57
E: [email protected]

Nick Lundvall, IR Manager & Head of Corporate Development
M: +46 761 45 21 78
E: [email protected]

This is information that Hemnet Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the person set out above, on November 4 2021 at 08:00 CET.

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’).

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