At the Board Meeting on November 1st, the Board of Directors of Schibsted ASA approved the interim financial statement as of September 30th, 2007. Please find enclosed the Interim Report for 3rd Quarter 2007.
Information on the internet:
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Schibsted’s web site:
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HUGIN Online:
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Highlights (Figures in brackets show the figures for the corresponding period in 2006.)
- The Group achieved a Q3 operating profit (EBITA) of NOK 257 million (239 million), producing an operating margin of 8% (8%). Adjusting for investments in new projects gives an operating profit of NOK 378 million (314 million)
- The revenues from the Group’s online activities increased by 40% in Q3, after adjusting for the acquisition/sale of subsidiaries. These activities accounted for 56% of the Group’s operating profit (EBITA)
- Strong growth in operating profit for FINN, Blocket/Bytbil and VG Multimedia
- Strong sales growth and a leading market position for Hitta
- Slightly weaker growth in advertising revenues and a decline in operating profit for Aftonbladet Nya Medier
- The revenues from the online activities of International Classifieds (former Trader) grew by 55% and the offline revenues declined by 21% in the seasonally weak Q3
- InfoJobs strengthens its market position and is a clear leader in recruitment advertising online in both Spain and Italy
- Successful introduction of paid for ads on the Segundamano classified ads website in Spain
- Strong increase in advertising revenues for the print editions of Aftenposten and VG
- The price increase to SEK 10 and cost reductions led to an improved operating profit for the print edition of Aftonbladet
- The investments in Punkt SE and TV7 considerably debited the Aftonbladet Group’s results
- Aftonbladet has disposed of TV7 with financial effect from 15 October
- Schibsted Søk (search) has decided upon annual cost reductions of NOK 130 million, with net effect of NOK 90 million for the Schibsted Group
- The Group booked net other costs of NOK 137 million in Q3, mainly related to restructuring in Aftonbladet and Schibsted Søk
- The Media Norge partners’ appeal against the Norwegian Media Authority’s decision to stop the merger is now being treated by the independent Media Ownership Appeals Board. A final decision is expected by year-end 2007
GROUP RESULT (main figures)
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Q3 2006
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Q3 2007
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Figures in NOK million
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As of 30.09.2007
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As of 30.09.2006
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31.12. 2006
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2 907
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3 179
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Operating revenues
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9 988
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8 161
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11 648
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365
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400
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Operating profit (EBITDA) 1)
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1 353
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1 005
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1 452
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(126)
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(143)
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Depreciations
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(423)
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(304)
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(439)
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239
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257
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Operating profit (EBITA)
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930
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701
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1 013
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(65)
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(137)
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Other revenues and expenses
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67
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60
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1 492
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114
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74
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Profit before taxes
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851
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674
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2 413
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1) Operating profit before depreciation, impairment of goodwill and other revenues and expenses.
Oslo, 2 November, 2007
The full Interim Report for 3rd Quarter 2007 including tables and the Presentation of 3rd Quarter 2007 can be downloaded from the following links: