25.10.2024 07:00:01 CEST | Schibsted | Half yearly financial reports and audit
reports / limited reviews

Today, Schibsted released its Q3 2024 results.

Strategic advancements well underway and solid financial results 

"The third quarter of 2024 represented another important step in our strategic
transformation to a pure-play marketplaces company, underpinned by disciplined
execution and a commitment to delivering long-term shareholder value. Following
the sale of our media business and the Adevinta transaction, which generated a
total capital return package of approximately NOK 24 billion, we have returned
the second tranche of the special cash dividend amounting to NOK 2 billion, and
initiated the first tranche of our share buyback programme amounting to NOK 2
billion," CEO Christian Printzell Halvorsen says.

"Operationally, our previously announced reorganisation and the implementation
of cost measures are on track, with completion expected by the end of November.
We have also started to take the next steps related to our monetisation agenda
in Real Estate in Norway and Mobility which will take effect in 2025, focusing
on the value we deliver to our customers and our long-term potential.
Furthermore, we continue to focus on simplifying operations, with plans to exit
businesses which we do not consider as core, or where we neither have a leading
position nor a clear path to get there. In this context, we plan to exit Lendo,
Prisjakt, our skilled trades marketplaces Mittanbud, Servicefinder, Remppatori
and 3byggetilbud.dk - http://3byggetilbud.dk, the majority of our Ventures
portfolio, as well as our Jobs marketplaces in Sweden and Finland. These steps
will allow us to focus on our four core verticals, where we see significant
potential for growth and value creation," CEO Christian Printzell Halvorsen
says.

"In terms of financial performance, Group revenues for the third quarter ended
at NOK 2,607 million, representing a 9 per cent year-on-year increase on a
constant currency basis, while Group EBITDA improved by 17 per cent to NOK 670
million. The primary drivers of this growth were the Nordic Marketplaces
segment, which achieved a 6 per cent increase in revenues, and our Delivery
segment, which recorded a remarkable growth. Mobility, Real Estate, and
Recommerce continued to perform well, although our Jobs marketplaces -
particularly outside of Norway - and Advertising faced headwinds," CEO Christian
Printzell Halvorsen says.

"These results reaffirm our progress towards achieving our updated strategic and
financial objectives, which we will share in more detail at our upcoming Capital
Markets Day," CEO Christian Printzell Halvorsen says.

This quarter's highlights

 * Group: Revenues of NOK 2,607 million, up 9 per cent YoY on a constant
   currency basis. EBITDA of NOK 670 million, up 17 per cent YoY.
 * Nordic Marketplaces: 6 per cent revenue growth on a constant currency basis.
   Classifieds revenues up 10* per cent driven by ARPA and transactional
   revenues, while Advertising revenues declined 18* per cent. EBITDA of NOK 565
   million, up 12 per cent YoY.
 * Delivery: Increased volumes in Helthjem, combined with the acquisition of
   Amedia Distribution led to a 46 per cent revenue growth and an EBITDA of NOK
   35 million, up NOK 34 million YoY.
 * Growth & Investments: 8 per cent revenue decline on a constant currency
   basis, resulting from reduced demand in Lendo due to macroeconomic factors.
   EBITDA improvement of 17 per cent YoY driven by cost-saving initiatives.

*On a constant currency basis

                    | Third quarter   |        |  | Year to date    |       
----------------------------------------------------------------------------
(NOK million)       | 2024   | 2023   | Change |  | 2024   | 2023   | Change
----------------------------------------------------------------------------
 Schibsted Group    |        |        |        |  |        |        |       
----------------------------------------------------------------------------
 Operating revenues |  2,607 |  2,359 | 11%    |  |  7,453 |  7,137 | 4%    
----------------------------------------------------------------------------
 EBITDA             |  670   |  574   | 17%    |  |  1,610 |  1,534 | 5%    
----------------------------------------------------------------------------
 EBITDA margin      | 26%    | 24%    |        |  | 22%    | 21%    |       

Alternative performance measures used in this release are described and
presented in the section Definitions and reconciliations in the quarterly
report.

 

Programme for the day, 25 October 2024:

07:00 CET

Publication of Schibsted Marketplaces' Q3 results including interim report,
presentation, and financials and analytical information.

09:00 CET

CEO Christian Printzell Halvorsen and CFO Per Christian Mørland will present
Schibsted Marketplaces' Q3 results as a virtual live webcast, followed by a Q&A
session. The presentation and following Q&A session will be held in English. The
webcast can be viewed live at:

https://channel.royalcast.com/landingpage/hegnarmedia/20241025_2/

For the Q&A at the end of the presentation, we invite analysts to ask questions
in a live format by using the raise-hand-feature in Microsoft Teams.

Microsoft Teams link: 
https://teams.microsoft.com/l/meetup-join/19%3ameeting_ZDVmNGMxYjAtZTlkMS00ZWE5L
WEwNGUtZTAwYmNmYTEwMTI0%40thread.v2/0?context=%7b%22Tid%22%3a%226f6d5d78-35df-4e
19-83aa-7efcf9b475bc%22%2c%22Oid%22%3a%222475081b-3683-4421-90d7-20303166e40e%22
%7d

Meeting-ID: 310 011 393 493

Password: QshEws

It will also be possible to send in written questions through the webcast
player.

Press/media can reach out to Kristine Eia Kirkholm (
kristine.eia.kirkholm@schibsted.com), Director of Communications, to set up
separate one-on-one interviews with Schibsted Marketplaces CEO Christian
Printzell Halvorsen.

A recording of the presentation will be available on our IR website shortly
after the live webcast has ended.

 

Oslo, 25 October 2024

SCHIBSTED ASA

DISCLOSURE REGULATION

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

CONTACTS

 * Jann-Boje Meinecke, VP FP&A and Investor Relations, +47 941 00 835,
   ir@schibsted.com 
 * Malin Ebenfelt, Investor Relations Officer, +47 916 86 710, ir@schibsted.com 

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18297288/5158/Download%20announce
ment%20as%20PDF.pdf

Interim Report Q3 2024.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18297288/5155/Interim%20Report%20
Q3%202024.pdf

Results Presentation Q3 2024.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18297288/5156/Results%20Presentat
ion%20Q3%202024.pdf

Schibsted Financials and Analytical Info Q3 2024.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18297288/5157/Schibsted%20Financi
als%20and%20Analytical%20Info%20Q3%202024.pdf