Interim Financial Statement Q4 2013

Schibsted ASA (SCH) , Published 13/02/2014 07:00:00

Today, Schibsted Media Group released its Q4 2013 report, showing operating revenues of NOK 3.94 billion. The underlying growth was 2 percent. The Online classifieds segment increased its revenues underlying with 15 percent, 20 percent excluding Spain. The gross operating profit (EBITDA) was NOK 406 million (501 million). Excluding the Online classifieds Investment phase, the EBITDA increased to NOK 686 million from NOK 613 million in the corresponding quarter in 2012.

– Schibsted Media Group’s digital revenues continued to grow well in Q4 2013, and the group is on a good path to digitalisation, CEO Rolv Erik Ryssdal says.

– Schibsted has the aim of taking an active role in consolidation in online classifieds. Today we are delighted to announce that we have acquired the Spanish online classifieds site, which over the last few years has gained popularity in Spain. This reinforces our position as a clear leader in the Spanish online classifieds market, and enables us to deliver a broad range of great services to our Spanish users and advertisers. We have also teamed up with our competitor Avito in Morocco, creating a clear market leader, Rolv Erik Ryssdal says.

– Our key established online classifieds operations in Norway, Sweden and France ended 2013 on a strong note, with good growth rates and stable, high margins. We will continue with a long term strategy focusing on traffic growth and market leader-ship. Finn will turn free for certain private categories to boost user engagement. Parts of the private listings on Finn Torget will be turned into a ‘freemium’ model during 2014, Rolv Erik Ryssdal says.

– We see good results of our increased investments in roll out of our online classifieds concepts in new markets. In Brazil, where we now have partnered up with Telenor, the growth was strong in Q4. We had a leading position ahead of OLX by the end of December, Rolv Erik Ryssdal says.

– Our media houses are developing new online services at high speed. Mobile and web TV is getting increasingly popular, and after the launch of Aftenposten and Bergens Tidende’s new digital subscription products in Q4 all our main subscription newspapers have launched online user payment options. We are also building our competence and systems within advanced data analytics and payment services. This will help create the best solutions for our advertisers and users in the future, CEO Rolv Erik Ryssdal says.

Highlights of Q4 2013
(Figures in brackets refer to the corresponding period in 2012. Underlying figures are adjusted for currency effects and acquisitions and divestments.)

  • Underlying group operating revenues increased 2 percent , with underlying online classifieds revenue up 15 percent. Excluding Spain, the growth was 20 percent
  • EBITDA of NOK 406 million (501 million), and NOK 686 million (613 million) excluding investments in New Ventures in online classifieds.
  • Online classifieds EBITDA margin of 16 percent (28%). 42 percent (42%) excluding investments in New Ventures
    • Continued growth and high margins in Norway, Sweden and France
    • Agreed to acquire, reinforcing the position as a clear market leader in the Spanish online classifieds market
    • Buy-out of minorities in Joining forces with competitor in Morocco, creating a strong market leader
    • Strong growth in key performance indicators like number of new ads in the investment phase sites, including Brazil
    • Emerging markets roll out strengthened through new joint venture with Telenor, which was established in Q4
  • Online growth and cost reductions secure stable margins in media houses
    • Online advertising growth of 9 percent in the media houses. Mobile and web TV are key drivers
    • Continued significant decline for print advertising and circulation
    • Digital transition and cost efficiency programs progress as planned
  • Dividend proposed at NOK 3.50 per share for 2013
Q4 Q4     Full year
2012 2013  (MNOK) 2013 2012
3,811 3,937 Operating revenues     15,232     14,763
501 406 Gross operating profit (EBITDA) 1,672 2,043
13 % 10 % EBITDA margin 11 % 14 %
613 686 Gross operating profit (EBITDA) ex. Investment phase       2,672       2,573
16 % 18 % EBITDA margin ex. Investment phase 18 % 18 %
       (424)       1,500 Profit (loss) before taxes       2,015         620
2.36 0.44 Adjusted Earnings per share (EPS)        3.90        8.18

Schibsted invites to an analyst and press conference at Apotekergaten 10, Oslo, 13 February 2014 at 09:00 CET. The presentation will be transmitted live as a video webcast on

A conference call with Q&A linked to the Q4 2013 results will take place 13 February 2014 at 14:00 CET. Please dial in at the following numbers:

International: +44(0)20 3427 1908
From Norway: 800 56054
Conference code: 5670722

Contact persons:
Trond Berger, CFO. Tel: +47 916 86 695
Jo Christian Steigedal, VP Investor Relations. Tel: +47 415 08 733

Oslo, 13 February 2014

Jo Christian Steigedal
VP Investor Relations


This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.