18.7.2025 07:00:00 CEST | Vend Marketplaces ASA | Half yearly financial reports
and audit reports / limited reviews

Today, Vend released its Q2 2025 results.

Solid ARPA growth and margin expansion amid strategic transformation

"In the second quarter, we officially changed our name to "Vend", an important
milestone in our strategic transformation. Our new identity, built around the
vision "Smart choices made easy," signals our evolution into a pure-play
marketplace company, holding leading positions across the Nordics.
Strategically, it reflects our ambition to strengthen our verticals, simplify
our organisation and portfolio, and enhance cost efficiency. These changes lay
the foundation for increased customer value and monetisation opportunities.
We're already seeing this translate into concrete outcomes: In the second
quarter, we launched our home rental platform Qasa in Norway, and across all
verticals we introduced more AI-powered features designed to improve the user
experience," CEO Christian Printzell Halvorsen says.

"We maintained strong strategic momentum throughout the quarter. Average revenue
per ad increased across all verticals, and transactional revenues continued its
solid growth trajectory. Concurrently, we reduced costs and advanced our
organisational streamlining by divesting several non-core activities and venture
investments, while steadily progressing other sales processes," Halvorsen says.

"Group revenues for the quarter ended at NOK 1,694 million, representing a 2 per
cent year-on-year decline on a constant currency basis. Group EBITDA improved by
25 per cent to NOK 583 million. The revenue development was driven by solid ARPA
growth across verticals, but curbed by a reduction in the Other/HQ segment,
continued soft advertising, and the strategic decisions to streamline our
Recommerce and Jobs business. The EBITDA growth was mainly the result of reduced
operating expenses across the Group," Halvorsen says.

"Our 14 per cent ownership stake in Adevinta remains an important part of our
financial profile. In the second quarter, we received a capital distribution of
approximately NOK 3.9 billion from Adevinta, and according to our capital
allocation policy, we have during the quarter returned significant amounts of
capital to our shareholders through a share buyback of NOK 4.6 billion, and a
special dividend of NOK 500 million. Going forward, Vend will maintain this
disciplined policy of returning excess capital to shareholders," adds Halvorsen.

This quarter's highlights

 * Group: Revenues of NOK 1,694 million, down 2 per cent YoY on a constant
   currency basis. EBITDA of NOK 583 million, up 25 per cent YoY.
 * Mobility: 4 per cent revenue growth on a constant currency basis, with
   Classifieds up 12 per cent primarily driven by ARPA, Transactional up 14 per
   cent driven by AutoVex and Nettbil, while YoY decline in Advertising was 20
   per cent. EBITDA of NOK 391, up 14 per cent YoY.
 * Real Estate: 10 per cent revenue growth on a constant currency basis, driven
   by ARPA development in Norway, as well as Transactional revenues. Operating
   expenses excluding COGS declined 5 per cent, leading to an EBITDA increase of
   31 percent YoY to NOK 200 million.
 * Jobs: Revenues down 11 per cent on a constant currency basis due to Sweden
   and Finland exits. Revenues in Norway grew 3 per cent driven by strong ARPA,
   partly offset by a volume decline of 15 per cent. Operating expenses down 29
   per cent YoY, and EBITDA increased 13 per cent YoY to NOK 172 million.
 * Recommerce: 6 per cent revenue decline on a constant currency basis.
   Transactional revenues grew 23 per cent while Advertising revenues declined
   by 40 per cent YoY. Revenues were negatively affected by effects from phasing
   out and deconsolidating non-core revenue streams. Operating expenses
   excluding COGS down 9 per cent YoY, leading to an EBITDA increase of 10 per
   cent YoY to NOK -66 million.

                    | Second quarter           |        |  | Full year          
--------------------------------------------------------------------------------
(NOK million)       | 2025   | 2024 (restated) | Change |  | 2024 (re-presented)
--------------------------------------------------------------------------------
Operating revenues  | 1,694  | 1,709           | -1%    |  | 6,385              
--------------------------------------------------------------------------------
EBITDA              | 583    | 465             | 25%    |  | 1,632              
--------------------------------------------------------------------------------
EBITDA margin       | 34%    | 27%             |        |  | 26%                

Alternative performance measures used in this release are described and
presented in the section Definitions and reconciliations in the quarterly
report.



Programme for the day, 18 July 2025:

07:00 CET

Publication of Vend's Q2 results including interim report, presentation, and
financials and analytical information.



09:00 CET

CEO Christian Printzell Halvorsen and CFO Per Christian Mørland will present

Vend's Q2 results as a virtual live webcast, followed by a Q&A session. The
presentation and following Q&A session will be held in English. The webcast can
be viewed live at: 
https://channel.royalcast.com/landingpage/hegnarmedia/20250719_1/


For the Q&A at the end of the presentation, we invite analysts to ask questions
in a live format by using the raise-hand-feature in Microsoft Teams.

Microsoft Teams link: 

https://teams.microsoft.com/l/meetup-join/19%3ameeting_YWRhNTY5ZDMtOWY4Mi00MGViL
WEyMjYtOWI3MTQ2NDBjMWQ0%40thread.v2/0?context=%7b%22Tid%22%3a%226f6d5d78-35df-4e
19-83aa-7efcf9b475bc%22%2c%22Oid%22%3a%222475081b-3683-4421-90d7-20303166e40e%22
%7d

Meeting-ID: 379 335 130 269

Password: dS9Wo7e7

It will also be possible to send in written questions through the webcast
player.



Press/media can reach out to Kristine Eia Kirkholm (
kristine.eia.kirkholm@vend.com), Director of Communication, to set up separate
one-on-one interviews with CEO Christian Printzell Halvorsen.

A recording of the presentation will be available on our IR website shortly
after the live webcast has ended.



Oslo, 18 July 2025

VEND MARKETPLACES ASA



DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.

CONTACTS

 * Jann-Boje Meinecke, SVP FP&A and Investor Relations, Vend Marketplaces ASA,
   +47 941 00 835, ir@vend.com 
 * Kristine Eia Kirkholm, Director of Communication, Vend Marketplaces ASA, +47
   93 24 78 75, kristine.eia.kirkholm@vend.com 
 * Simen Madsen, Investor Relations Officer, Vend Marketplaces ASA, +47 992 73
   674, simen.bjolseth.madsen@vend.com 

ABOUT VEND MARKETPLACES ASA

Vend Marketplaces ASA ("Vend") is a family of marketplaces with a strong Nordic
position. As a leading marketplaces company within Mobility, Real Estate, Jobs
and Recommerce, we provide effortless digital experiences designed for the needs
of tomorrow. We do it with a clear sense of purpose, to create sustainable value
and long-term growth, for all our stakeholders and society as a whole.

Vend has an ownership share of 14% in Adevinta, a company that was spun off in
2019 and is now privately owned by a group of investors.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18600085/6323/Download%20announce
ment%20as%20PDF.pdf

Q2 2025 Financials and Analytical Info.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18600085/6319/Q2%202025%20Financi
als%20and%20Analytical%20Info.pdf

Q2 2025 Results Presentation.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18600085/6320/Q2%202025%20Results
%20Presentation.pdf

Q2 2025 Report.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18600085/6322/Q2%202025%20Report.
pdf