Preliminary annual result per 31.12.2006

Schibsted ASA (SCH) , Published 15/02/2007 16:31:39

At the Board meeting today, the Board of Directors of Schibsted ASA approved the consolidated preliminary Annual Statement for 2006. Enclosed please find Preliminary Annual Statement 2006.
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Highlights (Figures in brackets show the figures for the corresponding period in 2005.)
  • The Group made a Q4 operating profit (EBITDA) of NOK 447 million (320 million), producing an operating margin of 13% (12%).
  • Increased investments in new projects debited the profit and loss account by NOK 160 million (NOK 70 million) in Q4.
  • Strong advertising markets both in print and online
  • The Group’s Q4 revenues from online activities increased by 57% (before acquisitions). These activities accounted for 22% (after acquisitions) of the Group’s operating profit (EBITA).
  • The results of International Classifieds (Trader) developed as expected in Q4. The online activities’ revenues increased by 49%.
  • The circulation of VG has developed slightly better than before
  • Schibsted sold its stake in Norway’s TV 2 and Sweden’s TV4 in October. The gain from the sales was approx. NOK 1.5 billion in Q4.
  • Schibsted purchased minority shareholdings in the classified ads services Blocket and InfoJobs in Q4.
  • The Group has, according to plan disposed of assets worth a total of NOK 2.6 billion during the autumn of 2006. The Group’s net interest-bearing liabilities were reduced by approx. NOK 2 billion in the second half of 2006.
  • In connection with Media Norge extraordinary general meetings for the individual newspaper houses will be held on 15 February where a decision will be reached regarding the merger. The Norwegian Media Authority has up to six months to approve the formation of Media Norge. Media Norge will not be listed on the stock exchange until at least September 2007.
Consolidated results (main figures)
1) Operating profit before depreciation, impairment of goodwill and other revenues and expenses
Oslo, February 15, 2007
Report including tables and presentation can be downloaded from the following links: