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    SCHA   NO0003028904

SCHIBSTED ASA

(SCHA)
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Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q3 2021

10/27/2021 | 01:01am EST
27.10.2021 07:00:01 CEST | Schibsted | Half yearly financial reports and audit
reports / limited reviews

Today, Schibsted released its Q3 2021 results.

Continued strong revenue and EBITDA growth

"We are pleased to share that we continued our positive development in the third
quarter, with an underlying1 revenue growth of 11 percent which included an
increase in revenues across all segments. EBITDA margin was strong at 21
percent, driven by Nordic Marketplaces," CEO Kristin Skogen Lund says.

"Revenues in Nordic Marketplaces increased by an underlying1 18 percent. The
strong rebound in revenues over the last quarters demonstrates the strength of
our marketplaces, built on strong brands and market positions as well as
continuous product development. As in previous quarters, the revenue increase
was driven by our professional customers in Norway, Sweden and Finland, and
particularly within the Job verticals. Denmark had a soft quarter as car dealers
were confronted with low inventory and high turnover which affected both online
classifieds and advertising spend negatively," CEO Kristin Skogen Lund says.

"News Media reached a new important milestone with more than one million purely
digital subscriptions and delivered an underlying2 revenue growth of 7 percent.
This was achieved by strong digital advertising sales and continued good
progress of our subscription business. To build on this trend and grasp the
growth potential for this business, we have started to ramp up investments, for
example in the podcast subscription service PodMe and our business news site
E24," CEO Kristin Skogen Lund says.

"Distribution continued to achieve solid revenue growth, though somewhat lower
than earlier this year due to reduced volume growth following the reopening of
the Norwegian society. This trend also affected Prisjakt, which witnessed lower
activity and a revenue decline during the third quarter," CEO Kristin Skogen
Lund says.

"Contrarily, Lendo has been supported by the reopening of the economies and
delivered strong underlying2 revenue growth of 21 percent while EBITDA decreased
due to increased marketing spend in Sweden and expansion investments," CEO
Kristin Skogen Lund says.

"Finally, our Ventures business had an eventful quarter with the listing of the
learning platform Albert on 01 October, and a good deal flow which included our
investment in Tibber, an energy company which empowers people by lowering their
energy bill and consumption," CEO Kristin Skogen Lund says.



This quarter's highlights 

 * Underlying1 revenue growth of 11 percent, strong EBITDA margin of 21 percent
 * Nordic Marketplaces: 18 percent underlying1 revenue growth, primarily driven
   by the Job vertical. Strong quarter for Norway with 33 percent revenue growth
   and 54% EBITDA margin. Sweden and Finland with good development, while
   Denmark had a soft quarter due to low inventory and high turnover in Motors.
 * News Media: 7 percent underlying2 revenue growth thanks to strong digital
   advertising sales and continued growth in subscriptions. EBITDA margin of 13
   percent, somewhat lower than last year due growth investments and one-offs in
   the same period last year.
 * eCommerce & Distribution: 13 percent underlying2 revenue growth driven by
   higher volumes for parcels and breakfast delivery. EBITDA declined
   year-on-year due to step-fixed costs to expand our delivery capacity.
 * Financial Services & Ventures: Strong underlying2 revenue growth of 21
   percent in Lendo, while EBITDA declined as a result of increased marketing
   spend in Sweden and expansion investments. Good deal flow and successful
   listing of the learning platform Albert on 01 October. Prisjakt witnessed
   lower activity and revenues year-on-year as societies reopened, strong EBITDA
   margin of 32 percent.

 

                    | Third quarter   |         | Year to date    |        
---------------------------------------------------------------------------
(NOK million)       | 2021   | 2020   | Change  | 2021   | 2020   | Change 
---------------------------------------------------------------------------
Schibsted Group     |        |        |         |        |        |        
---------------------------------------------------------------------------
Operating revenues  | 3,667  | 3,188  | 15%     | 10,687 | 9,287  | 15%    
---------------------------------------------------------------------------
 - of which digital | 2,461  | 1,971  | 25%     | 6,922  | 5,648  | 23%    
---------------------------------------------------------------------------
EBITDA              | 769    | 678    | 13%     | 2,106  | 1,461  | 44%    
---------------------------------------------------------------------------
EBITDA margin       | 21%    | 21%    |         | 20%    | 16%    |        

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



Webcast presentation including Q&A 27 October at 09:00 CET

CEO Kristin Skogen Lund and CFO Ragnar Kårhus will present the Q3 results as a
live webcast, including a Q&A session. The presentation and following Q&A
session will be held in English. The webcast can be viewed live at 
schibsted.com/ir - http://schibsted.com/ir (https://bit.ly/2Z7OgEj).

For the Q&A, participants can send in written questions via Slido (link: sli.do
- http://sli.do; event code: 590604) or via this link 
https://app.sli.do/event/p0pjujri. It will not be possible to ask questions by
phone.

As a result of the COVID-19 pandemic, it will not be possible to attend the
presentation in person at our headquarters in Oslo.

Press/media can reach out to Schibsted's Head of External Communications & Brand
Management, Nathalie Kåvin (nathalie.kavin@schibsted.com), to set up separate
one-on-one interviews with CEO Kristin Skogen Lund.

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



Oslo, 27 October 2021

SCHIBSTED ASA



¹ Foreign exchange neutral basis and including pro-forma revenues for
Marketplaces Denmark and Oikotie in Q3 2020

² Foreign exchange neutral basis

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, Head of Investor Relations, +47 941 00 835,
   jbm@schibsted.com 
 * Malin Langtvet, Investor Relations Officer, +47 916 86 710, ir@schibsted.com 
 * Nathalie Kåvin, Head of External Communications & Brand Management, +47 934
   01 363, nathalie.kavin@schibsted.com 

ABOUT SCHIBSTED

Schibsted is a family of digital brands with a strong Nordic position, and more
than 5,000 employees. Millions of people enjoy interacting with our companies
every day through our online marketplaces such as FINN, Blocket and Oikotie; our
media houses including Aftenposten, VG and Aftonbladet; and digital services
like Lendo. We also help new promising businesses grow. Our joint mission of
empowering people in their daily lives is rooted in the values of our media
heritage and a legacy of bold change. At our best, we are a fearless force for
change in a society built on trust and transparency. 

Schibsted is listed on Oslo Børs and has a sizable investment in Adevinta, a
company that was spun off and publicly listed as a separate company on Oslo Børs
in 2019.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/935/1235/Download%20announcement%
20as%20PDF.pdf

Interim Report Q3 2021.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/935/1232/Interim%20Report%20Q3%20
2021.pdf

Results presentation Q3 2021.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/935/1233/Results%20presentation%2
0Q3%202021.pdf

Financials and Analytical Info Q3 2021.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/935/1234/Financials%20and%20Analy
tical%20Info%20Q3%202021.pdf

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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