Annual Report 2011

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Media Houses International

MEDIA HOUSES INTERNATIONAL (MNOK)20112010
Operating revenues 1,004 1,009
Gross operating profit (EBITDA) 38 60

Media House International consists of the Group’s free newspapers, 20 Minutes, in Spain and France and the media house operations in the Baltic. 

Main features in 2011:

  • This business area experienced underlying growth in its operating revenues of two per cent.
  • The reported growth is negative, down one per cent, primarily due to the effect of currency fluctuations.
  • The operating profit was adversely affected by the difficult macroeconomic situation in Spain, and therefore added to the weak EBITDA for 20 Minutos, Spain. Tougher competition in France resulted in higher circulation figures and a reduction in EBITDA for 20 Minutes, France.

20 Minutes

20 Minutes is Schibsted’s concept for free newspapers. It is the most-read general newspaper in both France and Spain.

20 MINUTES (MEUR)20112010
Operating revenues 52.6 52.2
Gross operating prodit (EBITDA) before share of profit (loss) from associated companies (2.4) 2.2

Main features in 2011:

  • 20 Minutes France developed strongly within advertising, with 16 per cent growth in 2011.
  • Online activities had the first year of positive EBITDA and had an EBITDA margin of 25 per cent.
  • Printed newspapers have also experienced a positive EBITDA, but had an increased circulation.
  • There is strong competition in the French market. 20 Minutes launched the newspaper in 20 new towns in 2011. One national and four regional editions were launched.
  • Advertising revenue for 20 Minutos Spain fell by 15 per cent from 2010 to 2011. The macroeconomic situation is extremely difficult and unemployment is approaching 23 per cent. 

Eesti Meedia Group (Baltic States)

Eesti Meedia is the holding company for all of Schibsted’s operations in the Baltic States. Eesti Meedia is the leading media house in Estonia, with number one positions for its newspapers, magazines and TV channels, and also holds a strong position in Lithuania and Latvia.

BALTICS (MEUR)20112010
Operating revenues 75.6 72.2
Gross operating prodit (EBITDA) before share of profit (loss) from associated companies
 7.5 6.2

Main features in 2011:

  • The market in the Baltics showed improvement during 2011 but the uncertainty in Europe has contributed to growth having been, and remaining, modest.
  • The companies have efficient cost control.
  • Despite a difficult market situation in 2011, Eesti Media Group’s operating margin and market shares increased in comparison to the previous year.

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