Hemnet Group presents Q3 results and new strategy
Revenue fell by 17.8%. New board work and restructuring are introduced.
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Swedish residential property marketplace
hemnetgroup.seLast updated
In short: Hemnet launched free listings, cut staff and overhauled its board as Q3 profit fell.
Revenue fell by 17.8%. New board work and restructuring are introduced.
The company updates compensation models to cap commissions and reduces staff to achieve annual cost savings of 80-85 million SEK while strengthening its market position.
Net turnover fell by 24 percent to 81.8 million kronor. The number of published listings decreased by 15 percent compared to the previous year's August.
The board decides to pause the program from September 14 to ensure financial flexibility during a transformative phase and meet changed market conditions.
Hemnet Group AB (HMNTY) reported a 17.8% sales drop amid a major strategic pivot to free listing tiers, while maintaining strong cash conversion and outlining...
Hemnet Group AB (HEM.ST) announced a profit for third quarter that Dropped, from last year The company's bottom line came in at SEK89.4 million, or...
The housing website Hemnet is to save 80-85 million kronor annually. As a result, the number of employees is to be reduced from 184 to around 115 employees.
The real estate platform Hemnet is suspending its share buyback program with a maximum amount of 600 million Swedish kronor. The company states that this decision has been...
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