Schibsted Media Group hosts an Investor Seminar in Barcelona 18 November 2014. The presentation material and more information are available at www.schibsted.com/ir. The presentation can be followed live on webcast on the same site from 16:00 CET on 18 November. The Online classifieds segment of Schibsted is the focus area for the seminar.
Schibsted’s target of annual revenue growth for online classifieds operations over the medium to long term is maintained at 15-20%. The development in France is expected to continue to be positive, and the operations in Spain are likely to start growing in terms of revenues and EBITDA in 2015. Our Italian operation Subito.it is strengthening its leading position in the Italian classifieds market, and the growth is expected to continue with a good pace. These markets will be key growth drivers in the short term. In Norway, revenues are expected to grow with a low single digit percentage rate in 2015, as recruitment volumes may stay low, and taking into consideration the one-off negative revenue effect of the generalist category for privates going to a freemium model. Blocket.se/Bytbil.se are likely to grow with a high single digit percentage rate in 2015, as private car volumes are soft, but with good growth contribution from recruitment and real estate verticals, as well as display advertising.
Schibsted’s emerging markets portfolio is considerably strengthened through the joint venture agreement with Naspers announced 13 November 2014. Schibsted, Naspers, Telenor and SPH have agreed to establish joint ventures for the development of their online classifieds platforms in four key markets – Brazil, Indonesia, Thailand and Bangladesh. By coming together, the businesses would be able to share cost, expertise and people to more effectively build awareness of the benefits of a vibrant online classifieds offering to consumers.
Schibsted’s media houses continue to develop rapidly towards the ambition of being World Class Digital Media Houses. In the short term, margins in the media houses are likely to go somewhat down as a consequence of the transition.
Trond Berger, CFO. Tel: +47 916 86 695
Jo Christian Steigedal, VP Investor Relations. Tel: +47 415 08 733
Oslo, 18 November 2014
Jo Christian Steigedal
VP Investor Relations