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2016-05-11

Schibsted: Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q1 2016

Today, Schibsted Media Group released its Q1 2016 report. EBITDA ex.
Investment phase increased 25 percent to NOK 635 million.

"Schibsted Media Group has had a good start to 2016. Online Classifieds'
operating revenues continued to grow well", CEO Rolv Erik Ryssdal says.

"The operations in France and Spain have had a steady, high growth rate. The
strong traffic positions in those markets make it possible to grow revenues
both by introducing new services and through price optimization in the
verticals", Rolv Erik Ryssdal says.

"We continue to invest substantially in organic development of our online
classifieds operations. It is great to see firm evidence of return on
investments for example through the strong growth in traffic and engagement
in an important market like Brazil. We are also building a strong position in
Mexico, where our site Segundamano.mx is the leader in terms of traffic and
engagement", Rolv Erik Ryssdal says.

"In selected European markets, we continue our investments in the native
mobile market place Shpock. The service develops very well in significant
markets like UK and Germany", Rolv Erik Ryssdal says.

"The changes in consumer and advertiser behaviour continue to affect our media
houses in Norway and Sweden. A positive sign is the newspapers' number of
digital subscribers. Premium journalistic content presented in a modern way
across platforms appeals to a large number of consumers. However, the
advertising markets particularly in Norway are tough, and we need to
constantly adapt our cost base to the reduced revenues", Rolv Erik Ryssdal
says.

"Our efforts to build global product and tech capabilities has continued with
full speed in Q1 2016. We have launched several new products, including
geographical ad targeting in Norway. Our roadmap for new products is
ambitious going forward, so we can continue to deliver improved products for
consumers within both online classifieds and media houses", Rolv Erik Ryssdal
says.

Highlights of Q1 2016

(Figures in brackets refer to corresponding quarter in 2015.)

* EBITDA ex. Investment phase of NOK 635 million, a growth of 25 percent.
Reported EBITDA NOK 421 million (376 million). Total Online classifieds
EBITDA ex. Investment phase grew 37 percent to NOK 640 million.
* Continued solid revenue growth in Online Classifieds in Q1. France grew 19
percent and Spain grew 18 percent.
* Leboncoin.fr has signed direct contracts with 90 percent of customers of
the former bundle real estate package P3.
* Steady revenue growth and firm margins for Online Classifieds in
Scandinavia.
* 42 percent revenue growth in Other Developed Online Classifieds, driven by
good development in Italy, Austria and Ireland.
* Continued strong growth in key performance indicators in Investment phase
markets. * 61 percent growth in revenues, adjusted for currency
fluctuations * 51 percent growth in number of visits per month in the
Investment phase portfolio in Q1. * Strong momentum in mobile migration *
Shpock gains market shares in Germany and UK, excellent start in Italy.
Significant app updates in Q1.
* There is an increased uncertainty around the acquisition of Hemnet.
Schibsted expects a discussion with the Swedish Competition Authority
regarding potential commercially viable remedies.
* Continued investments in product and technology providing future
operational growth lever.
* Challenging market for media houses. * Comprehensive cost measures under
implementation * Significant uptake of digital newspaper subscriptions *
Media House Sweden's online revenues grew 11 percent in Q1. Online now
represents 54 percent of total revenues.
* Profit before taxes NOK 219 million, down from NOK 846 million in Q1 2015.
Q1 2015 included gains of 740 million (compared to 24 in Q1 2016).
* Improved free cash flow.

------------------------------------------------------------------------------
| Schibsted Media Group Q1 Q1 FY |
| (MNOK) 2016 2015 2015 |
| Operating revenues 3,883 3,694 15,117 |
| Gross operating profit (EBITDA) 421 376 2,016 |
| EBITDA margin 11 % 10 % 13 % |
| Gross operating profit (EBITDA) ex. Investment phase 635 508 2,560 |
| EBITDA margin ex. Investment phase 17 % 14 % 17 % |
------------------------------------------------------------------------------
Schibsted invites to ananalyst and press conference
at Apotekergaten 10, Oslo, 11 May 2016 at 09:00 CET. The presentation will be
held in English and transmitted live as a video webcast on
www.schibsted.com/ir.

Aconference call with Q&A
linked to the Q1 2016 numbers will take place 11 May 2016 at 14:00 CET. Please
dial in at the following numbers:

Norway: 800 56054
UK: 020 3427 1905
USA: 1877 280 1254
International: +44(0)20 3427 1913

Conference ID is 1328764

Contact persons:
Trond Berger, CFO. Tel: +47 916 86 695
Jo Christian Steigedal, Head of IR. Tel: +47 415 08 733

Oslo, 11 May 2016
SCHIBSTED ASA

Jo Christian Steigedal
Head of IR

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

Financials and analytical info Q1 2016
http://hugin.info/131/R/2011458/744690.pdf
Presentation of Q1 2016
http://hugin.info/131/R/2011458/744685.pdf
Q1 2016
http://hugin.info/131/R/2011458/744687.pdf

---------------------------------------

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

HUG#2011458

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