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," CEOKristin 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 inNorway ,Sweden andFinland , 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," CEOKristin 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," CEOKristin 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," CEOKristin 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 inSweden and expansion investments," CEOKristin 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," CEOKristin 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 forNorway with 33 percent revenue growth and 54% EBITDA margin.Sweden andFinland with good development, whileDenmark 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 inSweden 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 at09:00 CET CEOKristin Skogen Lund and CFORagnar 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 inOslo . Press/media can reach out to Schibsted's Head ofExternal Communications & Brand Management , Nathalie Kåvin ([email protected]), to set up separate one-on-one interviews with CEOKristin 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, [email protected] * Malin Langtvet, Investor Relations Officer, +47 916 86 710, [email protected] * Nathalie Kåvin, Head of External Communications & Brand Management, +47 934 01 363, [email protected] 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 inAdevinta , 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