Hemnet Q4 and FY 2024: ARPL Jumps 42% as Operating Profit Hits $57 Million

January 31, 2025

Swedish real estate portal operator Hemnet has released its interim report for the final quarter of 2024, boasting typically strong full-year performance across several core metrics for the market leader.

Highlights for the full financial year include:

  • Net sales increased by 38.8% to SEK 1,394.6 million ($126 million) from 2023
  • EBITDA increased 37.0% to SEK 719.8 million ($65 million)
  • Operating profit increased 41.4% to SEK 633.8 million ($57 million)
  • ARPL, average revenue per listing, increased 42.1% to SEK 6,382 ($577)
  • New package called Hemnet Max due for launch this spring

Highlights for Q4 include:

  • Net sales increased by 32.4% to SEK 364.1 million ($32.9 million)
  • EBITDA increased 24.5% to SEK 176.3 million ($16 million)
  • Operating profit increased 26.4% to SEK 153.6 million ($13.9 million)
  • ARPL, average revenue per listing, increased 43.0% to SEK 8,452 ($764)

Hemnet is one of the most dominant market leaders in the world and its portal is directly responsible for circa 90% of property sales in Sweden.

However, change is coming for Hemnet with long-serving CEO Cecilia Beck-Friis set to step down imminently, to be replaced by Jonas Gustafsson, whose appointment was announced in November 2024.

Meanwhile, the business will launch Hemnet Max, "a new top-tier package for customers who want to gain even greater exposure for their homes to potential buyers" this spring.

ARPL also continues to be an interesting metric for Hemnet, with the business now earning more than $570 from every listing it publishes.

Outgoing CEO Cecilia Beck-Friis said:

"Hemnet continued to deliver strong growth in the fourth quarter as net sales increased by 32.4 percent, driven by continued high demand for value-added services. The full-year results, with record net sales growth of 38.8 percent, EBITDA growth of 37.0 percent and ARPL growth of 41.1 percent, underline the strength and scalability of our business model. These strong results have been enabled by continued improvements in product, packaging and pricing, together with an updated compensation model for brokerage offices.

"During the year, we have also launched several initiatives that contributed to the strong ARPL growth. We have increased flexibility for home sellers by offering new payment options, improved the publishing flow for sellers and brokers, and made it easier for home sellers to upgrade their listings. An important milestone was the launch of a new compensation model for real estate offices, which rewards those who actively recommend Hemnet products. The model has been successful and led to an increase in real estate recommendations by over 20 percentage points and a significant increase in conversions, especially to Hemnet Premium.

"This spring we are launching Hemnet Max, a new top-tier package for customers who want to gain even greater exposure for their homes to potential buyers. This initiative reflects the growing demand for larger packages and reinforces our commitment to meeting diverse customer needs.

"Within our B2B segment, we have seen revenue growth of 4.9 percent as real estate agents have invested more in our value-added services, particularly our newest product that helps them find sellers.

"As I conclude my final remarks as CEO, I would like to thank my colleagues for seven fantastic years. Together we have achieved so much, and I am proud of what we have built. Hemnet is a unique company with a strong position, an engaged audience and an inspiring corporate culture. I am confident that the company will continue to flourish under Jonas' leadership, and I wish him and the team every success in the future."

January 31, 2025
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

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