Schibsted Marketplaces Delivers Solid 'First Chapter' Ahead of Rebrand

Ahead of its anticipated rebranding, the classifieds operator Schibsted Marketplaces delivered a strong set of results for the first quarter of 2025.

• Revenue stood at NOK 2,015 million, a 4% year-over-year increase on a constant currency basis.
• EBITDA was NOK 394 million, up 18% year-over-year, with an EBITDA margin of 20%.
• Real estate revenue was up 20% year-on-year at NOK 301 million.

Having sold off its media division to Tinius Trust last year, the Oslo-headquartered company is looking to deliver solid financial performance while streamlining operations ahead of its rebranding to "Vend" on May 12th.

“Following a transformative 2024, we entered 2025 as a company focusing solely on marketplaces. I have previously compared the next phase of Schibsted’s history to writing an entirely new book. Now, I am happy to conclude that the first chapter of this book has started on a positive note, with progress in the first quarter in line with the strategy outlined at our Capital Markets Day,” CEO Christian Printzell Halvorsen says.

The growth was partly fuelled by an 18% increase in real estate classifieds revenue, which benefitted from a 12% rise in Average Revenue Per Ad (ARPA) and a 27% surge in residential listings in Norway, the country which represented 75% of real estate revenue. There was also significant growth (96%) in the company's transactional real estate businesses (Qasa and HomeQ).

Overall, real estate revenues grew by 20% year-over-year, helped by a 27% rise in residential listings in Norway. EBITDA nearly doubled to NOK 126 million, achieving a 42% margin.

Elsewhere, the company's mobility vertical saw revenues largely flat year-on-year while the jobs vertical suffered a 10% drop in revenue largely due to the closure of Schibsted's businesses in Finland and Sweden.

Schibsted Marketplaces is the Scandanavian remnant of the Oslo-based media company that spun off online classifieds operator Adevinta in 2019 and divested its media assets in 2024. The company's portfolio includes several leading online marketplaces in the Nordics including Norwegian generalist FINN and the Swedish rentals platform Qasa.

Vend Real Estate / Horizontal Classifieds Assets