The Schibsted consolidated accounts for the period January 1 to September 30, 1997 were approved at the Schibsted Board Meeting November 6,1997.
The group’s revenues for the first nine months of 1997 were NOK 3,827 million, an increase of 23.5 % or NOK 728 million compared to the same period in 1996. The operating profit was NOK 477.3 million compared to NOK 345.5 million in 1996, an increase of 38.2 %. In addition to the consolidation of Aftonbladet, the main reasons for this increase are Aftenposten’s higher advertising revenues and improved results in the TV/Film area.
Net financial items were NOK 91.8 million compared to NOK 23.8 million in 1996. Pre-tax profit was NOK 567.9 million compared to NOK 367.1 million in 1996, an increase of 54.7 %. Net profit was NOK 403.2 million compared to NOK 264.3 million in 1996, an increase of 52.6 %.
Key figures for year-to-date 1997 and corresponding figures for 1996 are:
(NOK MILL.) 30.9.97 30.9.96 Change
Total revenues 3 827.1 3 099.2 23.5 %
Operating profit 477.3 345.5 38.2 %
Net financial items 91.8 23.8
Profit before taxes 567.9 367.1 54.7 %
Net profit 403.2 264.3 52.6 %
EPS (NOK) 5.82 3.82
CFPS (NOK) 7.56 6.30
Aftonbladet Hierta AB is consolidated into Schibsted’s accounts as of May 1, 1996.
Schibsted’s accounts on Internet
Please note, both the third quarter results and the teleconference presentation will be available on:
· Schibsted’s web site: http://www.schibsted.no/corporation/annual
· HUGIN Online: http://www.huginonline.no/SCH/rapporter_e.shtml
HUGIN Online (http.//www.huginonline.no) provides updated financial information and press releases on most companies listed on the Oslo Stock Exchange.
Report is available for download at http://www.huginonline.no/SCH/DR/sch97k3_e.pdf
Presentation is available for download at http://www.huginonline.no/SCH/PRES/sch97k3_pres_e.pdf or in HTML at http://www.huginonline.no/SCH/PRES/sch97k3_e/
Oslo, November 6, 1997
SCHIBSTED ASA
Kjell Aamot
President and CEO