Vend Marketplaces ASA (OL:VENDA) shares fell on Thursday after the company flagged weaker third-quarter volumes across autos, real estate and jobs, while reiterating that its 2025 earnings outlook remains on track.
The company’s pre-silent update ahead of results on Oct. 28 indicated that July and August saw softer trends in several key segments compared with the second quarter.
In autos, new approved professional ads in Norway, Sweden and Denmark were a few percentage points lower, while consumer-to-consumer listings fell 1 to 2 points.
Real estate volumes also declined, with new approved ads down 7% in Norway and 9% in Finland, compared with flat and down 4% in the second quarter, respectively.
Job listings fell 15% year over year in July and August, consistent with the broader third-quarter trajectory.
Recommerce activity showed mixed trends across markets. Transacted gross merchandise value in Norway accelerated by about 2 percentage points compared with the prior quarter, while Sweden slowed by roughly 13 points.
Finland and Denmark both recorded quarter-on-quarter declines, partly reflecting holiday seasonality. Advertising volumes remained soft but were not quantified.
Average revenue per ad continued to grow, supported by pricing and product launches.
For 2025, the company confirmed expectations for EBITDA of NOK 1.8 billion to NOK 2.0 billion, in line with Bloomberg consensus of NOK 2 billion.
Cost reductions in the second half of 2024 are expected to be smaller than in the first half, and no headcount cuts are planned for 2025.
Source :
https://www.investing.com/news/earnings/vend-marketplaces-shares-fall-as-q3-volumes-weaken-2025-outlook-maintained-4244605
