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Schibsted: Schibsted ASA (SCH) - Interim Financial Statement Q1 2014

Today, Schibsted Media Group released its Q1 2014 report, showing operating
revenues of NOK 3.71 billion. The Online classifieds segment increased its
revenues underlying with 14 percent, 19 percent excluding Spain. The gross
operating profit (EBITDA) was NOK 410 million (297 million). Excluding the
Online classifieds Investment phase, the EBITDA increased to NOK 551 million
from NOK 521 million in the corresponding quarter in 2013.

- I am satisfied with the Q1 2014 where our Online classifieds operations have
per-formed very well. Schibsted Sverige has improved considerably, not least
as a result of good development for the digital activities in Schibsted
Growth. Our Norwegian media house operations have faced an environment where
print advertising has declined at a higher pace than what we previously
experienced. This has resulted in a profit decline, CEO Rolv Erik Ryssdal

- The progress of our online classifieds sites is broad based. In Norway,
Sweden and France our revenues grow with double digit rates. In total, our
online classifieds revenues grew by 14 percent, underlying. This is
satisfying in the light of our decision to reduce monetization in Spain, Rolv
Erik Ryssdal says.

- We continue to build traffic positions which will be a basis for long term
revenue growth, and in Q1 we invested NOK 141 million in Online classifieds
New Ventures. In addition, we invest in joint ventures and associated
companies, of which a significant part of the investments is made in Brazil,
where we see very strong traffic growth in the market, Rolv Erik Ryssdal

- In our media houses the transition to online proceeds at high speed. It is
particularly good to see that our three largest media houses VG, Aftenposten
and Aftonbladet all report fairly stable revenues and margins in Q1. This is
a result of strong online growth - both from advertising and subscription
sales - combined with a strict cost focus. In the period ahead, we will
continue developing our digital positions and at the same time adapt the cost
base to the market conditions. In this way we strengthen our ability to
develop world class digital media houses for the future, CEO Rolv Erik
Ryssdal says.

Highlights of Q1 2014
(Figures in brackets refer to the corresponding period in 2013. Underlying
figures are adjusted for currency effects and acquisitions and divestments.)

* Underlying growth for Online classifieds excluding Spain 19 percent. Total
underlying Online classifieds growth was 14 percent, whereas the underlying
growth for the Group overall was 2 percent.
* EBITDA of NOK 551 million (521 million) excluding investments in New
Ventures in Online classifieds. Total Group EBITDA NOK 410 million (297
* Online classifieds EBITDA margin of 27 percent (18%), 40 percent (42%)
excluding investments in New Ventures * Continued growth and high margins
in Norway, Sweden and France * Building future positions through
investments in traffic growth across the portfolio. Strong growth in key
performance indicators like number of new ads in the investment phase
sites, including Brazil * Focus on mobile product innovation * Positioning to capture the real estate potential in France. * Acquisition
of in Spain expected to be closed in Q2.
* Mixed development in Media houses. * Strong online positions secure stable
revenues and firm margins for VG and Aftonbladet. * Accelerated print
advertising decline for subscription newspapers. Further cost reduction
measures under planning. Good development for digital subscriptions *
Steady growth and margin improvement for personal finance services

| Q1 Q1 FY |
|(MNOK) 2014 2013* 2013* |
|Operating revenues 3,710 3,587 14,870 |
|Gross operating profit (EBITDA) 410 297 1,777 |
|EBITDA margin 11 % 8 % 12 % |
|Gross operating profit (EBITDA) ex. Investment phase 551 521 2,647 |
|EBITDA margin ex. Investment phase 15 % 15 % 18 % |
|Profit (loss) before taxes 101 107 1,490 |
|Adjusted Earnings per share (EPS) (0.69) 0.55 3.90 |
|*) Restated figures |
Schibsted invites to ananalyst and press conference
at Apotekergaten 10, Oslo, 7 May 2014 at 09:00 CET. The presentation will be
transmitted live as a video webcast

Aconference call
with Q&A linked to the Q1 2014 numbers will take place 7 May 2014 at 14:00
CET. Please dial in at the following numbers:

International: +44(0)20 3364 5381
From Norway: 800 56054
Conference code: 7758387

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

Oslo, 7 May 2014

Jo Christian Steigedal
VP Investor Relations

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Financials and analytical info Q1 2014
Presentation of 1st Quarter 2014
1st Quarter 2014


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Schibsted via Globenewswire


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