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    SCHA   NO0003028904


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Schibsted ASA : (SCHA/SCHB) – Interim Financial Statement Q1 2021

05/06/2021 | 01:01am EST

Today, Schibsted released its Q1 2021 results

Strong start to 2021

“Schibsted started 2021 with a strong first quarter, despite continued uncertainty from the COVID-19 pandemic. Driven by underlying¹ revenue growth of 8 percent and cost savings, we achieved a strong EBITDA of NOK 594 million in Q1, up from NOK 285 million in the same period last year,” CEO Kristin Skogen Lund says.

“The jump in EBITDA was driven by all business areas, while in particular News Media had another strong quarter, where underlying² revenues grew 3 percent in combination with lower costs. The revenue growth in News Media was due to continued strong growth in digital subscriptions, in addition to a significant improvement in digital advertising,” CEO Kristin Skogen Lund says.

“In Nordic Marketplaces, underlying¹ revenues returned to a 6 percent growth driven by an improvement in the Job vertical in Norway, and a strong March month across all markets. Real estate in Norway and the Motor vertical in Norway and Sweden were still somewhat negatively affected by less need for upsell products due to lower inventory levels and high demand, but volume trends have improved throughout the quarter. Looking at Finland, the Oikotie integration was successfully completed and underlying¹ classifieds revenues increased compared to last year driven by a recovery in Jobs, combined with good progress in Real estate and Motor,” CEO Kristin Skogen Lund says.

“In Next, Lendo’s profitability improved slightly compared to the first quarter last year despite lower underlying² revenues, which were negatively affected by COVID-19 effects in Sweden. Similar to previous quarters, Distribution and Prisjakt recorded strong growth driven by increased online shopping trends,” CEO Kristin Skogen Lund says.

“On the back of these strong results and our priorities, which we presented at our virtual Capital Markets Day in March, I am excited about our long-term possibilities for growth and value creation which lie ahead of us,” CEO Kristin Skogen Lund says.


Highlights of the quarter

  • Underlying¹ revenue growth of 8 percent YoY ensured strong quarterly EBITDA of NOK 594 million, more than doubled from Q1 last year and 42 percent above Q1 2019
  • Nordic Marketplaces: Underlying¹ revenues returned to YoY growth of 6 percent after three quarters of flat or declining revenues, driven by the Job vertical in Norway. EBITDA margin of 50 percent in Norway and 42 percent in Sweden.
  • News Media: Strong EBITDA margin of 11 percent driven by higher revenues and cost savings. The revenue growth was due to strong growth in digital subscriptions as well as a significant improvement in digital advertising.
  • Financial Services: Robust EBITDA margin of 20 percent in Lendo, despite underlying² revenue decline of 6 percent YoY driven by negative COVID-19 effects in Sweden.
  • Growth: Strong underlying² revenue growth of 36 percent YoY thanks to strong growth in Distribution and Prisjakt which have benefited from increased online shopping trends.

(NOK million) Q1 2021 Q1 2020 Change    Year 2020
 Schibsted Group   
 Operating revenues           3,401          3,026 12%        12,908
   - of which digital          2,108         1,826 15%         7,893
 EBITDA              594             285 >100%          2,126
 EBITDA margin  17% 9% 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 6 May at 09:00 CET

CEO Kristin Skogen Lund and CFO Ragnar Kårhus will present the Q1 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: https://bit.ly/3sy1Wkt.

For the Q&A, participants can send in written questions via Slido at: https://app.sli.do/event/7hqfchpw. 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.


¹  Revenue growth on a foreign exchange neutral basis adjusted for business combinations

²  Revenues on a foreign exchange neutral basis


Oslo, 6 May 2021


Disclosure regulation

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


  • 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


  • Download announcement as PDF.pdf
  • Interim Report Q1 2021.pdf
  • Results Presentation Q1 2021.pdf
  • Financials and Analytical Info Q1 2021.pdf

© NTB Norway, source NTB English Regulatory Releases

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Sales 2021 14 595 M 1 593 M 1 593 M
Net income 2021 61 695 M 6 734 M 6 734 M
Net Debt 2021 6 649 M 726 M 726 M
P/E ratio 2021 1,47x
Yield 2021 0,54%
Capitalization 84 277 M 9 184 M 9 198 M
EV / Sales 2021 6,23x
EV / Sales 2022 5,69x
Nbr of Employees 5 000
Free-Float 69,4%
Duration : Period :
Schibsted ASA Technical Analysis Chart | SCHA | NO0003028904 | MarketScreener
Technical analysis trends SCHIBSTED ASA
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 386,60 NOK
Average target price 514,00 NOK
Spread / Average Target 33,0%
EPS Revisions
Managers and Directors
Kristin Skogen Lund Chief Executive Officer
Ragnar Kňrhus Chief Financial Officer
Ole Jacob Sunde Chairman
Sven St°rmer Thaulow Chief Data & Technology Officer
Christian Ringnes Independent Director
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