At the Board Meeting today, the Board of Directors of Schibsted ASA approved the interim financial statement as of March 31, 2007. Please find enclosed the Interim Report for 1st Quarter 2007.
Information on the internet:
Schibsted’s web site: http://www.schibsted.com
HUGIN Online: http://www.huginonline.no/SCH
Highlights
(Figures in brackets show the figures for the corresponding period in 2006.)
- The Group made a Q1 operating profit (EBITDA) of NOK 260 million (167 million), producing an operating margin of 8% (7%).
- Increased investments in new projects debited the profit and loss account by NOK 163 million (64 million) in Q1.
- The revenues from the Group’s online activities increased by 51% in Q1 (before the acquisition of subsidiaries). These activities accounted for 46% of the Group’s operating profit (EBITA) (after acquisitions of subsidiaries).
- The revenues from the online activities of International Classifieds (Trader) increased by 47% in Q1.
- Strong advertising markets both on print and online.
- Record results in Q1 for FINN and Blocket.
- Strong advertising revenues and improved circulation figures for the print versions of VG, Aftenposten and Svenska Dagbladet.
- Aftonbladet shows weaker results due to investments in Punkt SE and TV7. The print edition also shows a somewhat weak development in Q1.
- Hitta.se increased its number of unique visitors and is now stronger than Eniro in terms of online traffic.
- 20minutos.es has stronger growth in unique visitors than any other Spanish news website.
- Schibsted sold its head office in Apotekergaten 10 in Oslo for NOK 334 million. The gain will be recorded in Q2.
- Schibsted has put its stake in Adresseavisen up for sale. This will bring Schibsted’s share of the total newspaper circulation in Norway below 33.3% when Media Norge is established.
- A dialogue is being held with the Norwegian Competition Authority and the Norwegian Media Authority in connection with the Media Norge merger, and the media group will be listed in September 2007 at the earliest.
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Group result (main figures)
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(figures in NOK million)
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Q1 2007
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Q1 2006
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31.12.2006
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Operating revenues
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3 359
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2 557
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11 648
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Operating profit (EBITDA) 1)
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399
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256
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1 452
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Depreciations
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(139)
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(89)
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(439)
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Operating profit (EBITA)
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260
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167
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1 013
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Other revenues and expenses
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13
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111
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1 492
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Profit before taxes
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223
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262
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2 413
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1) Operating profit before depreciation, impairment of goodwill and other revenues and expenses.
Oslo, 10 May, 2007
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The full Interim Report for 1st Quarter 2007 including tables and the Presentation of 1st Quarter 2007 can be downloaded from the following links: