Vend trims Mobility growth outlook but boosts profitability and tightens costs

Vend Marketplaces ASA ( (GB:0R9I) ) has issued an update.

Vend Marketplaces ASA reported a modest 1% year-on-year increase in group revenues to NOK 1,543 million in the first quarter of 2026 on a constant-currency basis, while EBITDA jumped 36% and margin rose to 36% on the back of strict cost discipline. Real Estate, Jobs and Recommerce all posted solid revenue and profitability improvements, but Mobility growth slowed to 4%, with strong performance in Norway offset by platform migration issues in Sweden and volume declines in Denmark.

The company cut its 2026 revenue outlook for the Mobility vertical to mid-to-high single-digit growth, below its medium-term target of 12–17%, although targets for other segments remain intact. In response, Vend plans to reduce its 2026 operating cost base by about NOK 100 million versus 2025 and has revised down the carrying value of its 14% Adevinta stake by NOK 5.7 billion net, reflecting a sharp contraction in peer valuation multiples despite continued operational progress at Adevinta.

The most recent analyst rating on (GB:0R9I) stock is a Buy with a NOK345.00 price target. To see the full list of analyst forecasts on Vend Marketplaces ASA stock, see the GB:0R9I Stock Forecast page.

More about Vend Marketplaces ASA

Vend Marketplaces ASA is a Nordic-focused operator of digital marketplaces across the Mobility, Real Estate, Jobs and Recommerce verticals, offering online platforms designed to deliver effortless digital experiences. The company aims to generate sustainable value and long-term growth for stakeholders and society, and holds a 14% ownership stake in online classifieds group Adevinta, which was spun off in 2019 and is now privately owned.

Average Trading Volume: 724,719

Current Market Cap: NOK55.84B

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