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Hemnet Group AB ( (SE:HEM) ) has provided an update.
Hemnet reported preliminary April net sales of SEK 116.6 million, down 21% year-on-year, as the company continues rolling out its new ‘Sell first, pay later’ billing model across Sweden’s housing market. Average revenue per paid listing rose by nearly 11%, while published listings fell 11% to 15,400 and paid listings dropped 36% to 11,100, reflecting weaker volumes and the accounting effects of the new payment structure.
Management highlighted that the new model shifts revenue recognition to when properties are sold, delaying income into later quarters rather than reducing total revenue. The company noted an improving market environment with the lowest listing decline in a year, a 41% conversion rate to the new model in April, and a sell-through rate of just under 60% after three months for early adopters, suggesting gradual operational stabilization despite near-term pressure on reported sales.
The most recent analyst rating on (SE:HEM) stock is a Buy with a SEK206.00 price target. To see the full list of analyst forecasts on Hemnet Group AB stock, see the SE:HEM Stock Forecast page.
More about Hemnet Group AB
Hemnet Group AB operates Sweden’s leading digital property platform, connecting home buyers, sellers and real estate agents since its founding in 1998. The company offers listings, market insights and housing-related services aimed at improving transparency, efficiency and mobility in the Swedish housing market, and is listed on Nasdaq Stockholm under the ticker HEM.
YTD Price Performance: -41.08%
Average Trading Volume: 440,240
Technical Sentiment Signal: Sell
Current Market Cap: SEK9.48B
See more data about HEM stock on TipRanks’ Stock Analysis page.