Schibsted ASA (SCH) - Capital Markets Day 2010
(Thomson Reuters ONE) -
Schibsted today holds its Capital Markets Day in Oslo. The presentation material
that is being used can be downloaded from Schibsted's website
www.schibsted.com/ir. The presentations can be followed by live webcast on the
same site from 12:00 CET.
Main elements of the presentations are as follows:
· Schibsted's strategy with two strategic pillars is reiterated. First, the
group aims to further develop the position as a leading player within Online
classifieds. The second strategic pillar is the strong Media houses with leading
positions online and on print in Norway and Sweden as well as international.
· Schibsted today announced that the company has acquired full control over
the third largest online classifieds site in Europe, Leboncoin.fr, through the
purchase of the remaining 50% of the company at a price valuing the company at
EUR 400 million on a 100% basis. This confirms the Group's growth ambitions
within Online classifieds. At the same time the strong position in the French
market creates opportunities to develop new online business. The operating
revenues in Leboncoin.fr are in 2010 expected to grow with around 100%. The
revenue in first half 2010 was EUR 16 million and the operating margin (EBITDA)
was 59%. The growth of Schibsted's Online classifieds operations will in the
future come through further development and innovation in existing operations,
launches of proven concepts in new markets and targeted acquisitions in key
markets.
· The Media houses in Schibsted continue their efforts to improve efficiency
through higher degree of cooperation across units. This creates the fundament
for continued capability for innovation and further strengthening of the
editorial core products, and through this solid financial development in the
future.
· Developing of models for user payment for online content is a high priority
task for the Media houses in Schibsted. Several of the newspapers will launch
paid for online products for the iPad in 2010 and 2011.
· Schibsted has through the Swedish company Schibsted Tillväxtmedier achieved
good results from developing new online business based on the established strong
traffic positions in Sweden. A similar organization will be established in
Norway with the ambition to strengthen innovation and growth pace here as well.
Financial targets
Schibsted today released financial targets for the coming 3-5 years. The group
will develop towards and meet the targets given a mid cycle environment. The
most important targets are as follows:
· EBITA margin: 10-12%
· Growth in operating revenues: 5%
· Financial gearing: NIBD/EBITDA 1-2x. In special situations up to 3x, but
with a plan to reduce to normal range
· Dividend policy: 25-40% of cash flow
· Equity ratio: 35-50%, minimum 25%
Contact persons:
Trond Berger, CFO. Tel: +47 916 86 695
Jo Christian Steigedal, VP Investor Relations. Tel: +47 415 08 733
Oslo, 22 September 2010
SCHIBSTED ASA
Jo Christian Steigedal
VP Investor Relations
Schibsted is a Scandinavian media group with ambitions to be a leading player in
Europe. The Group has market leading positions online and on print in Norway,
Sweden and internationally through strong media houses and online classifieds
operations. The growth strategy of Schibsted is founded on close interaction
between brands, content and media platforms - print, online and mobile.
Schibsted has 7,500 employees and operations in 26 countries. Operating revenues
in 2009 were NOK 12.7 billion and operating profits (EBITA) were NOK 832
million. Schibsted is listed on the Oslo Stock Exchange (ticker: SCH).
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1445992]
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Source: Schibsted via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 22.09.2010 - 11:03 Uhr
Sprache: Deutsch
News-ID 42923
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contact information:
Town:
Oslo
Kategorie:
Business News
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