Schibsted ASA (SCH) - Interim Financial Statement Q2 2013
(Thomson Reuters ONE) -
Today, Schibsted Media Group released its Q2 2013 report, which shows operating
revenues of NOK 4.0 billion. The underlying revenue growth was 2 percent. The
Online classifieds segment increased underlying revenues with 15 percent. The
gross operating profit (EBITDA) was NOK 555 million (600 million). Excluding
Online classifieds Investment phase, the EBITDA was NOK 800 million, compared to
NOK 753 million in the same period in 2012.
- Schibsted Media Group continues to see growing online revenue making up for
declining print revenue. Growth in earnings in the established online operations
also compensate for lower print earnings, although total operating profit
remains affected by our substantial investments in promising New ventures in the
online classifieds area. Overall, online operations amounted to 45 percent of
revenues and 60 percent of gross operating profit in the second quarter, CEO
Rolv Erik Ryssdal says.
- Our largest established classifieds operations - in Norway, Sweden and France
- show good growth, supported by new product offerings and price optimizations.
The other established companies are also progressing well, although continued
investments in market positioning hold back margins for some of these sites. In
Spain, we have taken full control of Anuntis, and will sharpen the focus on
growth in traffic and volume, Rolv Erik Ryssdal says.
- We remain committed to our New ventures in Online classifieds, and continue to
invest to capture leadership positions in selected growth markets. We are
pleased to see the volume of new ads on these sites increasing sharply, which we
believe is a good leading indicator for future revenue generation, Rolv Erik
Ryssdal says.
- The digital transformation is accelerating in the Media Houses. Monetization
of mobile content is gathering headway, with VG and Aftonbladet claiming
leadership in Norway and Sweden. We also continue to see positive results from
the introduction of bundled print/online newspaper subscriptions. Traditional
print revenues remain negatively affected by lower advertising revenues.
Schibsted's media houses focus on strengthening digital competence and
resources, for instance within advanced data analytics. The transition program
initiated in 2012 progresses as planned, with cost savings mitigating the print
decline, CEO Rolv Erik Ryssdal says.
Highlights of Q2 2013
(Figures in brackets refer to the corresponding period in 2012. Underlying
figures are adjusted for currency effects and acquisitions and divestments.)
* Underlying group operating revenues increased 2 percent compared to Q2
2012, with underlying online classifieds revenue up 15 percent. Excluding
Spain, the growth was 20%
* EBITDA of NOK 555 million (600 million), and NOK 800 million (753 million)
excluding investments in New Ventures in online classifieds
* Online classifieds EBITDA margin of 26 percent, or 49 percent excluding
investments in New Ventures
* Continued growth and high margins in the French market leader
Leboncoin.fr
* Minority shareholders bought out in Spain. Sharpened focus on volume and
traffic growth going forward
* Good revenue growth for other established sites, margins being held back
by continued investments to strengthen market positions
* Strong growth in number of new ads in the investment phase sites,
including Brazil
* Online growth and cost reductions mitigate margin decline in Scandinavian
media houses
* Decline in print advertising, although at slower pace than in Q1
* Digital transition and cost efficiency programs progress as planned
Q2 Q2 1st half-year FY
2012 2013 (MNOK) 2013 2012 2012
3,825 3,971 Operating revenues 7,641 7,428 14,763
Gross operating
600 555 profit (EBITDA) 829 1,024 2,043
16 % 14 % EBITDA margin 11 % 14 % 14 %
Gross operating
profit (EBITDA) ex.
753 800 Investment phase 1,314 1,316 2,573
EBITDA margin ex.
20 % 20 % Investment phase 17 % 18 % 18 %
--------------------------------------------------------------------------------
Profit (loss) before
432 375 taxes 482 706 620
--------------------------------------------------------------------------------
Adjusted Earnings
2.47 1.65 per share (EPS) 2.20 3.82 8.18
Schibsted invites to an analyst and press conference at Apotekergaten 10, Oslo,
19 July 2013 at 09:00 CET. The presentation will be transmitted live as a video
webcast on www.schibsted.com/ir.
A conference call with Q&A linked to the Q2 2013 reults will take place 19 July
2013 at 14:00 CET. Please dial in at the following numbers:
International: +44(0)20 3427 1916
From Norway: 800 56054
Conference code: 5362052
Contact persons:
Trond Berger, CFO. Tel: +47 916 86 695
Jo Christian Steigedal, VP Investor Relations. Tel: +47 415 08 733
Oslo, 19 July 2013
SCHIBSTED ASA
Jo Christian Steigedal
VP Investor Relations
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
2nd Quarter 2013:
http://hugin.info/131/R/1717486/571112.pdf
Presentation of 2nd Quarter 2013:
http://hugin.info/131/R/1717486/571113.pdf
Financials and analytical info Q2 2013:
http://hugin.info/131/R/1717486/571114.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Schibsted via Thomson Reuters ONE
[HUG#1717486]
Unternehmensinformation / Kurzprofil:
Datum: 19.07.2013 - 07:00 Uhr
Sprache: Deutsch
News-ID 279964
Anzahl Zeichen: 7236
contact information:
Town:
Oslo
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 202 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Schibsted ASA (SCH) - Interim Financial Statement Q2 2013"
steht unter der journalistisch-redaktionellen Verantwortung von
Schibsted (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
