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Investing.com -- CDON AB stock jumped 7.3% today after the release of its second quarter results, which showed a return to gross merchandise value (GMV) growth and improved profitability after several quarters of decline.
The Nordic e-commerce marketplace reported group GMV growth of 8% YoY in the second quarter, a significant turnaround compared to declines of 11.8% and 10.8% in the first quarter of 2025 and fourth quarter of 2024, respectively. The company’s CDON segment grew 6.4% while its Fyndiq segment returned to growth at 12.8%.
CDON achieved group EBITDA of SEK 0.4 million, compared to a loss of SEK 9.4 million in the same quarter last year, demonstrating substantial improvement in profitability.
The company’s GMV and gross profit after marketing (GPAM) exceeded estimates, with group GMV 25.6% ahead and GPAM 20.4% ahead of projections. Within segments, CDON’s GMV was 28.2% above estimates while its GPAM was 8.6% ahead. Fyndiq’s GMV outperformed by 18.8% though its GPAM fell 35.6% below estimates.
Jefferies noted: "CDON has reported solid results with an overall return to GMV growth and an improvement in EBITDA profitability. The release indicated that the company’s initiatives were the key drivers behind the overall performance."
The company reiterated its qualitative long-term goals of becoming the leading marketplace in the Nordics with double-digit market share, increasing take rate, and achieving strong incremental margins.
CDON also confirmed it continues to evaluate strategic alternatives to maximize shareholder value, a process first announced in April 2025.
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