Interim report
Page 1
Hemnet Group Interim report Q2 January - June 2021 Strong growth in net sales and adjusted EBITDA Summary for the period April - June 2021 Net sales increased 47.4 percent to SEK 212.5m ( 144.2 ) Adjusted EBITDA increased 103.9 percent to SEK 110.9m ( 54.4 ) Operating profit increased 108.3 percent to SEK 62.9m ( 30.2 ) Strong year - on - year listings growth that increased 18.8 percent compared to the previous year The first full quarter with both the segmented price model on all seller products and the new compensation model for real estate agent offices , leads to significant operational leverage ● ● Summary for the period January - June 2021 Net sales increased 36.8 percent to SEK 355.0m ( 259.5 ) ● Adjusted EBITDA increased 85.1 percent to SEK 168.1m ( 90.8 ) ● Operating profit increased 72.7 percent to SEK 76.5m ( 44.3 ) ● New compensation model for real estate agent offices and segmented pricing 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 terminated and repaid the previously existing credit - facility ● ● ● Financial highlights Apr - Jun 2021 2020 Change 212.5 144.2 47.4 % 110.9 54.4 103.9 % 52.2 % 37.7 % 14.5 pp 62.9 30.2 108.3 % 0.36 0.19 90.2 % 0.36 0.19 90.1 % Jan - Jun ( SEK million , unless stated otherwise ) Net sales Adjusted EBITDA * Adjusted EBITDA - margin * , % Operating profit * Earnings per share , basic , SEK¹ Earnings per share , diluted , SEK¹ * Alternative Performance Measure , see pages 20-22 for derivation and definitions . 2021 2020 Change 355.0 259.5 36.8 % 168.1 90.8 85.1 % 47.4 % 35.0 % 12.4 pp 76.5 44.3 72.7 % 0.42 0.25 68.8 % 0.42 0.25 68.8 % Last twelve months ending Jun 2021 639.6 279.4 43.7 % 142.7 0.85 0.85 FY 2020 544.1 202.1 37.1 % 110.5 0.67 0.67 ¹ Earnings per share calculated as net profit for the period in relation to the average number of ordinary shares outstanding during the period . Average number of ordinary shares outstanding for all periods has been recalculated adjusting for reverse share split and bonus issues . The calculation of dilution of shares for all periods is made based on the average share price since the IPO on April 27 , 2021 ( 194,63 SEK ) . This price is higher than the strike price of outstanding warrants at period end ( 155,25 SEK ) and hence , there is a dilution of 94,953 shares .