Investor Day 2012

Schibsted ASA (SCH) , Published 28/02/2012 13:15:00

Schibsted today hosts a Capital Markets Day in London. The presentation material can be downloaded at, and the presentation can be followed by live webcast on the same site from 13:30 CET.

“We see continued profitable growth for our Online Classifieds operations in the years to come, and have set an ambitious target to become the global leader in this market. Within Media Houses, we expect growth to continue for our online operations, and have taken a multi-lever approach to manage the structural challenges in the print media landscape. We expect this to ensure continued strong cash flow from Media Houses in the years to come. Going forward, we are also intensifying our efforts to build new growth media and marketplaces, supported by the broad digital footprint of our existing operations”, says CEO Rolv Erik Ryssdal.

The main elements of the presentations are as follows:

Schibsted’s strategic fundament is based on two solid cornerstones; our strong position in the Online Classifieds market, and the leading regional and national Media Houses.

Schibsted aims to become the global leader in Online Classifieds, based on further development of its existing portfolio, greenfield expansions into new areas, and selective M&A activity. The current Online classifieds portfolio is expected to generate annual growth of 15-20%. Seeing a window of opportunity to add to growth, Schibsted expects to continue to invest around NOK 500 million, based on current circumstances, in new ventures within the Online Classifieds area.

The focus for our Media House business will be on strong cash flow, improved efficiency and profitability. This creates basis for product development and improved digital positions, combined with continued high cash generation. We expect a flat to slight decline in revenues going forward.

Schibsted has a strong balance sheet and the financial resources to back its operational strategies. Solidity targets stand firm, with a target equity ratio of 35-50% and a Net Debt/EBITDA ratio of 1-2 times. At the same time Schibsted will offer a predictable dividend policy, targeting dividend payout levels of 25-40% of operating cash flow.

Previously communicated Group EBITA margin target of 10-12% is discontinued.

New financial targets:

Profitable growth for Online classifieds with revenue increase of 15-20% the next three years.
Strong and stable cash flow from Media Houses.
Investments over the P&L in new ventures in Online classifieds NOK 500 million in current circumstances.
Equity ratio of 35-50%
Net interest bearing debt/EBITDA 1-2x
Dividend 25-40% of cash flow.

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

Oslo, 28 February 2012

Jo Christian Steigedal,
VP Investor Relations



This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)