At the Board meeting today, the Board of Directors of Schibsted ASA approved the interim financial statement as of June 30, 2006.
Please find enclosed the Interim Report for 2nd Quarter 2006.
Information on internet:
Schibsted’s web site: http://www.schibsted.no/en/
HUGIN Online: http://www.huginonline.no/SCH
Highlights (Figures in brackets show the figure for the corresponding period in 2005.)
- The Group made a Q2 operating profit of NOK 295 million (309 million), producing an operating margin of 11% (12%).
- Increased investments in new projects debited the profit and loss account by NOK 85 million (35 million) in Q2.
- Underlying growth in the operating profit is just over 10%.
- The revenue from the Group’s online activities increased by 60% and accounted for a 24% share of the operating profit.
- The TV 2 Group’s operating profit decreased considerably due to cost of football rights.
- Aftonbladet achieved its best ever quarterly result and improved its Q2 operating profit by 43% compared to last year.
- Aftonbladet increased the cover price of its weekday newspaper to SEK 9 and of its Sunday newspaper to SEK 10 on 26 June 2006.
- Aftonbladet increased advertising revenues from its online activities by 79% compared to Q2 2005.
- Aftenposten achieved a good quarterly result for its print edition and strong growth in its online classified advertising revenues.
- VG’s circulation figures continued to fall but increased advertising revenues for both the print and online editions contributed to a higher operating profit than for the corresponding period last year.
- Svenska Dagbladet produced one of its best ever quarterly results due to increased advertising and circulation revenues.
- 20 Minutes’ revenues grew by 23% in Spain and 34% in France.
- A new reader survey showed that 20minutos in Spain is now the most read newspaper in Spain, with 2 448 000 readers.
- The Group’s activities in Estonia increased their advertising revenues by 30% during Q2.
- Both the volume of traffic and number of users of the Group’s international classified ads services increased in Q2.
- Schibsted bought selected parts of Trader Classified Media in July – International Classifieds acquired. These companies will be consolidated in the accounts as from Q3.
- The online activities within International Classifieds acquired continued to increase their revenues sharply during the 2nd quarter – by 57% – and their profit performance in Q2 was in line with expectations.
Consolidated result (IFRS)
|
1.4 – 30.6
|
1.4 – 30.6
|
|
1.1 – 30.6
|
1.1 – 30.6
|
1.1 – 31.12
|
|
2005
|
2006
|
(NOK million)
|
2006
|
2005
|
2005
|
|
2 497
|
2 697
|
Operating revenues
|
5 254
|
4 929
|
9 832
|
|
|
|
“Operating profit before impairment of goodwill
|
|
|
|
|
309
|
295
|
and other revenues and expenses”
|
462
|
503
|
977
|
|
0
|
14
|
Other revenues and expenses
|
125
|
207
|
184
|
|
309
|
309
|
Operating profit
|
587
|
710
|
1 161
|
|
356
|
298
|
Profit before taxes
|
560
|
741
|
1 177
|
|
256
|
215
|
Net income
|
403
|
614
|
947
|
Oslo, August 17, 2006
The full Interim Report for 2nd Quarter 2006 including tables and the Presentation of 2nd Quarter 2006 can be downloaded from the following links: