At the Board meeting today, the Board of Directors of Schibsted ASA approved the interim financial statement as of March 31st, 2005.
Please find enclosed the Interim Report for 1st Quarter 2005.
Information on internet:
Highlights
A continued positive trend for the Group’s online activities. In the 1st quarter, the online activities contributed 27 % of the Group’s operating profit. FINN produced its best-ever quarterly result.
Aftonbladet continued to achieve strong figures and produced its best-ever 1st quarter result.
The increased focus on new activities debited the profit and loss account with costs of around NOK 20 million in the 1st quarter.
VG’s circulation figures continued to fall in the 1st quarter, but VG has never had so many readers. Signs of structural changes in the market will pose challenges in the future and various product measures are being considered.
Aftenposten made progress in the advertising market in the 1st quarter, mainly due to improvements in the recruitment market and the growth in circulation.
Aftenposten’s revenue from real-estate advertisements will drop by around NOK 45-60 million in 2005, but the company is actively considering measures to improve this marketplace in the newspaper.
The sale of 20 Minutes in Switzerland gave Schibsted a gain of NOK 200 million in the 1st quarter 2005.
The downsizing following the sale of the Group’s printing plant in Sweden debited the Group accounts by costs of around NOK 80 million.
Sandrew Metronome’s results improved in the 1st quarter, while Metronome Film & Television had a weaker start to the year.
The Swedish cinema operations were sold to Triangelfilm, with the takeover date stipulated to be May 2nd. This sale does not have any effect on the Group’s accounts.
The reduction in the Group’s stake in Schibsted Mobile and merger with Aspiro were carried out. The reduction in the Group’s stake gave the Group a gain of NOK 89 million.
In April, Grupo Zeta, a Spanish media group acquired 20% of 20 Minutos España.
In April, the Group sold its shareholding in Alma Media. This will produce a financial income of around NOK 55 million in the 2nd quarter.
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|
1.1 – 31.3
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1.1 – 31.3
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1.1 – 31.12
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(NOK million)
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2005
|
2004
|
2004
|
|
|
|
|
|
|
Operating revenues
|
2 432
|
2 270
|
9 690
|
|
Operating profit before goodwill
and other revenues and expenses
|
194
|
156
|
940
|
|
|
|
|
|
|
Impairment of goodwill
|
–
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–
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(78)
|
|
Other revenues and expenses
|
207
|
–
|
(348)
|
|
Operating profit
|
401
|
156
|
514
|
|
|
|
|
|
|
Profit before taxes
|
385
|
142
|
476
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|
|
|
|
|
|
Earnings per share (NOK)
|
5,03
|
1,35
|
3,55
|
|
Earnings per share – adjusted (NOK)
|
1,64
|
1,35
|
8,18
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Oslo, 2 May 2005
The full report with tables can be downloaded from the following link:
Presentation of 1st quarter 2005 can be downloaded from the following link:
