Hemnet Group AB Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 19, 2023 at 02:00 am EDT
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Hemnet Group AB (publ) reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was SEK 267.6 million compared to SEK 269.7 million a year ago. Revenue was SEK 268.4 million compared to SEK 270.5 million a year ago. Net income was SEK 91.9 million compared to SEK 100 million a year ago. Basic earnings per share from continuing operations was SEK 0.94 compared to SEK 0.99 a year ago. Diluted earnings per share from continuing operations was SEK 0.94 compared to SEK 0.99 a year ago.
For the six months, sales was SEK 457.7 million compared to SEK 449.3 million a year ago. Revenue was SEK 458.9 million compared to SEK 450.6 million a year ago. Net income was SEK 142.6 million compared to SEK 152.5 million a year ago. Basic earnings per share from continuing operations was SEK 1.45 compared to SEK 1.51 a year ago. Diluted earnings per share from continuing operations was SEK 1.45 compared to SEK 1.51 a year ago.
Hemnet Group AB (publ) is a Sweden-based company, that operates property platform in Sweden. The Company's business model is based on platforms, applications, and Internet Websites. By offering a combination of products, insights and inspiration, Hemnet develops lasting relationships with buyers, sellers and real estate agents. Hemnet Group's focus is on developing smart and intuitive tools that help visitors navigate virtually among all of Sweden's available supply of housing for sale, while creating engagement through data, informative articles and individually tailored monitoring. The Company's network effect is based on housing sellers and real estate agents benefit from the fact that more home buyers are on Hemnet, at the same time as home buyers conversely benefit from more home sellers and real estate agents are available on the platform.