The Schibsted consolidated accounts for the period January 1 to June 30 were approved at the Schibsted Board Meeting August 17, 1999.

The Group’s revenues for the 1st half were NOK 3,635 million (NOK 3.025 million), an increase of 20%. This increase is mainly a result of new subsidiaries which were not included in the 1st half of 1998. Operating profit was NOK 81 million (NOK 323 million), and the net profit was NOK 37 million (NOK 218 million).

Key figures for year-to-date 1999 and corresponding figures for 1998 are:

(MILL.KR.)           30.6.99       30.6.98
Total revenues         3.635         3.025
Operating profit          81           323
Net financial items      (10)           19
Pre-tax profit            71           341
Net profit/loss           37           218

EPS (NOK)               0,49          3,10
CFPS (NOK)              4,56          5,91

Schibsted expects the operating profit for the 2nd half of 1999 to be in line with the 1st. half. This must be seen in light of traditionally a seasonally weak 3rd quarter.

Schibsted’s accounts on Internet
Please note that the second quarter results and the presentation will be available on:

Schibsted’s web site: http://www.schibsted.no/ir_eng/
HUGIN Online: http://www.huginonline.com/Norway/SCH/

For report including tables, follow the enclosed link.
http://reports.huginonline.com/761320.pdf