Today, Schibsted Media Group released its Q4 2012 report, which shows operating revenues of NOK 3.8 billion. This was underlying and increase of 1 percent. The Online classifieds operations increased their revenues by 14 percent underlying. The revenues of the media houses in Norway and Sweden declined by underlying 2 and 4 percent, respectively.
- Q4 was another solid quarter for Schibsted Media Group. Our Online classifieds operations continue to perform well, capturing market shares and expanding products and service offerings. The Media houses are in the middle of a structural transition from print to online platforms. Our ambition is to create world class digital media houses, although the encouraging revenue increases in the online operations are not yet sufficient to compensate fully for the revenue decline in the print part of the business, CEO Rolv Erik Ryssdal says.
- Finn.no and our French site Leboncoin.fr were the main growth drivers in the Online classifieds operations. Blocket.se also performed well in a somewhat softer Swedish market. Over the past few years we have also created profitable number one positions in Italy, Austria and Malaysia. Our sites have strengthened their market leadership in 2012, lending further confidence in the business model and our return on investment over time. We are continuing to invest in our successful online classifieds concepts, and despite tough competition we see positive development also in early stage operations such as Bomnegócio.com in Brazil. We will concentrate on our core markets and expansion into selected new geographies. We aim for the number one positions in the markets where we are present, Rolv Erik Ryssdal says.
- In the Media Houses we are meeting the challenges in print media with cost reduction programs, and ongoing efficiency measures that are progressing as planned. At the same time we are allocating more resources to our digital activities, and here the results are encouraging. The declining trend in print advertising is expected to continue. Hence continued online growth and innovation will be crucial to secure the future with a fundament of high quality editorial products combined with healthy financial results, CEO Rolv Erik Ryssdal says.
Highlights of Q4 2012
(Figures in brackets refer to the corresponding period in 2011. Underlying figures are adjusted for currency effects and acquisitions and divestments.)
|549||497||Gross operating profit (EBITDA)||2,028||2,185|
|15 %||13 %||EBITDA margin||14 %||15 %|
|702||609||Gross operating profit (EBITDA) ex. Investment phase||2,558||2,597|
|19 %||16 %||EBITDA margin ex. Investment phase||17 %||18 %|
|152||(415)||Profit (loss) before taxes||683||1 331|
|2.14||2.42||Adjusted Earnings per share (EPS)||8.41||8.76|
Schibsted invites to an analyst and press conference at Apotekergaten 10, Oslo, 13 February 2013 at 09.00 CET. The presentation will be transmitted live as a webcast on www.schibsted.com/ir.
A conference call with Q&A linked to the Q4 2012 results will take place 13 February 2013 at 14:00 CET. Please dial in at the following numbers:
International: +44(0)20 3450 9987
From Norway: 800 56054
Conference code: 4552781
Trond Berger, CFO. Tel: +47 916 86 695
Oslo, 13 February 2013
Jo Christian Steigedal
VP Investor Relations