Nordic digital front-runner driving growth
Today, Schibsted hosts a virtual Capital Markets Day for shareholders, investors, analysts and other stakeholders from 10:00 CET to 13:00 CET. The event can be followed at schibsted.com/ir (https://bit.ly/2MMRKWG).
Continued growth prospects is the key topic for the event with the title “Nordic digital front-runner driving growth”.
“Schibsted operates some of the most popular internet services in the Nordics and is uniquely positioned for further growth. We are focusing on four strategic priorities which will increase revenues and value going forward:
- Strengthening Nordic Marketplaces by expanding & consolidating our Nordic positions, leveraging our current positions and transforming to Next Gen
- Strengthening our digital news positions with an even stronger focus on subscriptions, enabling top-line growth and healthy margins
- Pursuing new opportunities building on Schibsted’s existing positions, through:
- Fueling the subscription economy
- Enabling the e-commerce value-chain
- Leveraging Schibsted’s growth acceleration capabilities to launch new businesses and extend positions, through:
- Continuing to invest in Financial Services as well as integrating Fintech in our business
- Continuing to pursue new growth opportunities through venture investments
These initiatives will be supported by Schibsted’s services – advertising, data, subscriptions and integrations – which we leverage across the Group. Data is a key element for all these services and based on our positions with e.g. 977 million average monthly visits, a weekly digital reach of around 80 percent in Norway and Sweden, and 3.3 million daily logged-in users we are uniquely positioned,” CEO Kristin Skogen Lund says.
“Schibsted will continue to use disciplined capital allocation as an important tool to unlock growth and value. Our four strategic priorities will guide our capital allocation – with continued focus on Nordic Marketplaces. Over time, we will also perform share buybacks to address any over-capitalization when we believe this is value-enhancing for our investors. We also reiterate our financial targets with a revenue target for Nordic Marketplaces of 8-12 percent in the medium to long-term and an EBITDA margin target of 8-10 percent for News Media in the medium term,” CFO Ragnar Kårhus says.
“Looking at Adevinta, we are focusing on further value creation as a long-term financial owner. With the closing of the eBay-deal* we see material value creation potential through the combination of these two companies, both organically through developing their strong market positions further, but also through pursuing further M&A and consolidation opportunities. Schibsted has the capabilities and knowledge to support Adevinta in realizing this potential. Our shareholding will never stand in the way of value-creating transactions,” CEO Kristin Skogen Lund says.
* Closing is expected in Q2 2021, subject to regulatory approvals and other customary closing conditions
Program for the day, 11 March 2021:
10:00 CET: Presentations
During the event, management will provide an update on Schibsted’s strategy and initiatives to drive further growth.
Agenda:
10:00 CET: Welcome
Ole Jacob Sunde, Board Chair
Kristin Skogen Lund, CEO
Christian Printzell Halvorsen, EVP Nordic Marketplaces
Siv Juvik Tveitnes, EVP News Media
11:30–11:45 CET: Break
Raoul Grünthal, EVP Next
Dan Ouchterlony, SVP Financial Services
Ragnar Kårhus, CFO
Approximately 12:30–13:00 CET: Q&A
The presentations will be held in English and can be viewed live or recorded at schibsted.com/ir (https://bit.ly/2MMRKWG).
Approximately 12:30 CET: Q&A
Live Q&A session with all presenters.
Participants who would like to ask questions can dial in using the following link Q&A Schibsted CMD – click to join (https://bit.ly/3qaYz1F) or call one of the dial-in numbers below.
To avoid any potential waiting times when dialing in to the Q&A, we recommend to use the “click to join link” above.
Dial-in details:
Please join the event 5-10 minutes prior to scheduled start time.
Norway: +47 2350 0501
Sweden: +46 (0)8 5664 2793
Finland: +358 (0)9 7479 0243
Denmark: +45 35 15 80 49
UK: +44 (0)330 336 9411
US: +1 646-828-8193
Other locations: Please choose one of the above
Confirmation code: 1129763
Oslo, 11 March 2021
SCHIBSTED ASA
Contacts
- Jann-Boje Meinecke, VP, Head of Investor Relations, +47 941 00 835, jbm@schibsted.com
- Malin Langtvet, Investor Relations Officer, +47 916 86 710, ir@schibsted.com
About Schibsted
Schibsted is a family of digital consumer brands with a strong Nordic position, and more than 5,000 employees on a mission to empower people in their daily lives. Millions of people interact with our companies every day through our leading online marketplaces such as FINN in Norway and Blocket in Sweden, world-class media houses including Aftenposten, VG and Aftonbladet, and digital services that empower consumers, represented by companies such as Lendo. We also help new promising businesses realize their potential.
Schibsted has the mindset of a start-up and the heart of an established company that has stood on its own feet since 1839. In 2019, Adevinta – Schibsted’s international marketplaces – was spun off and publicly listed on Oslo Børs as a separate company.