At the Board meeting today, the Board of Directors of Schibsted ASA approved the interim financial statement as of March 31, 2006.
Please find enclosed the Interim Report for 1st Quarter 2006.
Information on internet:
Highlights
The Group produced an operating profit for Q1 of NOK 167 million (NOK 194 million). This profit resulted in an operating margin of 7% (8%)
Increased investments in new projects debited the profit and loss account by NOK 64 million (20 million) in Q1
Continued strong growth for the Group’s online activities
Investments in new products increased the costs for both Aftenposten’s print edition and FINN
Næringsliv24 (n24.no) was launched in Norway on 18 April and quickly became Norway’s biggest financial and business news website
Näringsliv24 (n24.se) in Sweden saw a sharp increase in traffic and achieved a profit in Q1
VG’s circulation figures continued to decline and the newspaper achieved weak advertising sales. VG Nett (online version) improved strongly
The Easter effect compared to that of 2005 had a negative effect on VG’s circulation, but a positive effect on Aftenposten’s advertising revenues
Aftonbladet’s advertising figures increased strongly and this newspaper achieved its best ever Q1 result. The online activities in particular improved considerably compared to the same period last year.
Svenska Dagbladet produced its best Q1 results ever as a result of increased advertising and circulation revenues
Schibsted is finalising negotiations to buy the remaining share of Sandrew Metronome (50%) from the Anders Sandrews foundation
20 Minutes saw a growth in revenue of 31% in Spain and 34% in France
New readership figures for 20minutos in Spain confirm that the newspaper has strengthened its position in the Spanish market
The Group’s activities in Estonia achieved a 25% increase in advertising revenues in Q1.
Planned cost cuts in VG of approx. NOK 100 million in total – to be implemented in 2006 and 2007
|
Consolidated result (IFRS)
|
|
|
|
|
(figures in NOK mill.)
|
Pr. 31.3.2006
|
Pr. 31.3.2005
|
2005
|
|
Operating revenues
|
2 557
|
2 432
|
9 832
|
|
Operating profit before
|
|
|
|
|
impairment of
goodwill and other revenues
and expenses
|
167
|
194
|
977
|
|
Other revenues and expenses
|
111
|
207
|
184
|
|
Operating profit
|
278
|
401
|
1 161
|
|
Profit before taxes
|
262
|
385
|
1 177
|
|
Net income
|
188
|
358
|
947
|
Schibsted will present a new structure for financial reporting. Comparable figures for 2005 are enclosed:
Oslo, 11 May 2006
The full Interim Report for 1st Quarter 2006 including tables can be downloaded from the following link:
The Presentation of 1st Quarter 2006 can be downloaded from the following link:
