Schibsted ASA (SCHA/SCHB) Q4 2021 Interim Financial Statements

0
11.2.2022 07:00:01 CET | Schibsted | Half yearly financial reports and audit
reports / limited reviews

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q4 2021

Today, Schibsted released its Q4 2021 results.

A solid Q4 concluded a strong, record high 2021 for Schibsted

"Q4 concluded a strong, record high 2021 for Schibsted, with strong underlying1 
revenue growth of 11 percent and an EBITDA of 2,740 million, up NOK 615 million
compared to last year," CEO Kristin Skogen Lund says.

"Q4 was a solid quarter with 7 percent underlying2 revenue growth driven by
Nordic Marketplaces, and News Media. EBITDA ended at NOK 634 million, NOK 30
million below last year driven by higher investments across the Group, while
Marketplaces Norway delivered strong year-on-year EBITDA growth of NOK 99
million," CEO Kristin Skogen Lund says.

"Nordic Marketplaces delivered once again strong underlying2 revenue growth of
18 percent, driven by our professional customers in Norway, Sweden and Finland,
and particularly in Jobs. In particular Norway stands out, delivering another
exceptionally strong quarter measured in both revenues and EBITDA; its best
quarter in 2021, while Q4 usually declines quarter-on-quarter due to
seasonality. While Jobs was the main driver for the strong performance, Motors
and advertising revenues also continued to grow well in Norway. The increase in
Motors was driven by Nettbil as well as higher car volumes on Finn, which is
exceptional looking at trends in other markets. In Sweden, Jobs continued its
strong growth while the car supply shortage and lower revenues from the
Generalist business affected results negatively. Finland grew well in Q4, mainly
driven by higher volumes in Jobs, and also made good progress in Real estate,
growing cross-traffic between Oikotie and Tori by 30 percent quarter-on-quarter.
Trends in Denmark improved, but revenues ended still below last year driven by
lower volumes in Motors as the business continued to be affected by the car
supply shortage. However, Bilbasen's position remains strong, and average
revenue per listing increased in the fourth quarter due to sales efforts," CEO
Kristin Skogen Lund says.

"News Media continued to perform well with an underlying3 revenue growth of 6
percent thanks to a strong quarter for digital advertising, in particular for VG
and Aftonbladet, as well as steady growth in digital subscriptions. As expected,
costs increased year-on-year due to a ramp up of investments in new strategic
initiatives across our brands with focus on content, including podcasts," CEO
Kristin Skogen Lund says.

"eCommerce & Distribution delivered revenues in line with last year, driven by
slower parcel volume growth in the market," CEO Kristin Skogen Lund says.

"Lendo continued with strong underlying3 revenue growth in Q4 driven by high
demand and improved conversion in Sweden and Norway, while the overall portfolio
in Financial Services & Ventures had a mixed performance. Within this portfolio,
Mötesplatsen and Let's Deal were exited," CEO Kristin Skogen Lund says.

"Ventures increased our investment in Tibber to around 15 percent ownership in
Q4, made several new investments ranging from Fintech to Digital Health, and
sold Capcito with a solid return," CEO Kristin Skogen Lund says.

"In accordance with our dividend policy, the Board has proposed an ordinary
dividend of NOK 2.00 per share for 2021," CEO Kristin Skogen Lund says.



This quarter's highlights 

 * Underlying2 revenue growth of 7 percent, EBITDA of NOK 634 million.
 * Nordic Marketplaces: 18 percent underlying2 revenue growth, primarily driven
   by the Job vertical. Especially a strong quarter for Norway with 31 percent
   revenue growth and 50 percent EBITDA margin. Accelerated revenue growth in
   Finland, while Sweden and Denmark continued to be affected by the car supply
   shortage.
 * News Media: Continued to perform well with 6 percent underlying3 revenue
   growth thanks to strong digital advertising sales and steady growth in
   subscriptions. As expected, cost increased driven by content investments; 11
   percent EBITDA margin.
 * eCommerce & Distribution delivered revenues in line with last year, driven by
   slower parcel volume growth in the market.
 * Financial Services & Ventures: Continued strong underlying3 revenue growth of
   21 percent in Lendo. High activity in Ventures.
 * Dividend of NOK 2.00 per share proposed for 2021.
   

                    | Fourth quarter  |         | Year            |        
---------------------------------------------------------------------------
(NOK million)       | 2021   | 2020   | Change  | 2021   | 2020   | Change 
---------------------------------------------------------------------------
Schibsted Group     |        |        |         |        |        |        
---------------------------------------------------------------------------
Operating revenues  | 3,936  | 3,620  | 9%      | 14,623 | 12,908 | 13%    
---------------------------------------------------------------------------
 - of which digital | 2,635  | 2,245  | 17%     | 9,557  | 7,893  | 21%    
---------------------------------------------------------------------------
EBITDA              | 634    | 665    | (5%)    | 2,740  | 2,126  | 29%    
---------------------------------------------------------------------------
EBITDA margin       | 16%    | 18%    |         | 19%    | 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, 11 February 2022 at 09:00 CET

CEO Kristin Skogen Lund and Head of IR Jann-Boje Meinecke will present the Q4
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://channel.royalcast.com/landingpage/hegnarmedia/20220211_7/).

For the Q&A, participants can send in written questions via Slido (link: sli.do
- http://sli.do; event code: 549703). 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.

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



Oslo, 11 February 2022

SCHIBSTED ASA


1 Foreign exchange neutral basis and including pro-forma revenues for Oikotie
and Marketplaces Denmark before Schibsted ownership

2 Foreign exchange neutral basis and including pro-forma revenues for
Marketplaces Denmark in Q4 2020

3 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] 
 * 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 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/17847482/1184/1569/Download%20announcement
%20as%20PDF.pdf

Interim report Q4 2021.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/1184/1564/Interim%20report%20Q4%2
02021.pdf

Results presentation Q4 2021.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/1184/1565/Results%20presentation%
20Q4%202021.pdf

Financials and analytical info Q4 2021.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/1184/1566/Financials%20and%20anal
ytical%20info%20Q4%202021.pdf

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Share.

Comments are closed.