Schibsted ASA (SCH) - Interim Financial Statement per 31.12.2010
(Thomson Reuters ONE) -
Today Schibsted ASA (SCH) released its Q4 2010 report, which shows operating
revenues of NOK 3.71 billion, underlying a growth of 5 per cent compared to the
same period in 2009. Advertising revenues contributed with a growth of 13 per
cent. The operating profit (EBITA) in Q4 was NOK 424 million, a growth of 22 per
cent compared to the same period in 2009.
- I am very pleased that Schibsted Media Group for the sixth consecutive quarter
can present a growth in quarterly result compared to the same period in the
previous year. It is our best Q4 ever, CEO Rolv Erik Ryssdal says.
- Together, we have managed to improve our products and strengthen the positions
of our media houses and online classifieds operations. This has contributed to a
growth in revenue. At the same time, we have benefited from improved advertising
markets, especially in Norway and Sweden, Ryssdal says.
Schibsted Media Group has during Q4 2010 completed the acquisition of French
online operations Leboncoin.fr and initiated the process of a merger with Media
Norge.
- These initiatives help to strengthen Schibsted's foundation for innovation and
growth. In this way, we contribute to good value creation for our owners and to
safe and interesting jobs for our employees. We have through these moves
strengthened both our strategic pillars Media Houses and Online classifieds,
Rolv Erik Ryssdal says.
- We are continuing to make efforts to adapt in a changing media sector. It is
strong growth both in terms of traffic and revenues for our Online classifieds.
At the same time, single-copy newspaper sales are experiencing a significant
transition from print editions to digital products such as tablets and mobile
phones. It will be important to find new models for user payment online, says
Rolv Erik Ryssdal, CEO of Schibsted Media Group.
Highlights in Q4 2010
(Figures in brackets refer to the corresponding period in 2009.)
Improved results in Q4
· The Group made an operating profit (EBITA) of NOK 424 million (348
million) in Q4 2010.
· Operating margin (EBITA) of 11 per cent (10%). Some non-recurring
costs had a negative effect on the margin. The relocation to new premises in
Sweden and weak performance in Hitta.se are examples of these.
· Increased investment in the roll-out of online classifieds and
continued product development in established operations such as Finn.no.
· Underlying growth in operating revenues of 5 per cent.
· Underlying growth in advertising revenues of 13 per cent driven by
progress in the online operations and in most of the print categories in
Scandinavia.
Growth and improved margins for Media houses
· Underlying revenue growth of 2 per cent in Media Houses Scandinavia
in Q4.
· The Media Houses Scandinavia EBITA margin rose from 8 to 9 per
cent, driven by cost cuts, stronger positions, especially online, and improved
advertising markets.
· Merger agreement with Media Norge in place. The merger is planned
to be implemented on 13 May 2011.
Strong growth and improved margins for Online Classifieds. Continued rapid roll-
out in new markets
· Underlying growth of 23 per cent in the Schibsted Media Group's
Online Classifieds operating revenues in Q4. The growth comes from both
established markets and the portfolio of newly created classifieds websites.
· Growth of 32 per cent in the operating profit (EBITDA) of
established Schibsted Classified Media operations.
· Schibsted Media Group is maintaining a rapid roll-out rate in new
markets and this weighed on the operating profit by NOK 68 million in Q4, NOK
32 million more than in Q4 2009.
· At the end of November 2010, Schibsted Media Group acquired 50 per
cent of the shares in Leboncoin.fr, and consequently now owns 100 per cent of
one of Europe's largest online classifieds companies.
· Schibsted Media Group has completed a profitability programme with
an accumulated effect of NOK 1.7 billion. In Q4 2010 alone, the effect was NOK
100 million.
· Dividend for 2010 of NOK 3.00 per share proposed.
· A diversified loan portfolio has been established through
refinancing bank loans and issuing bonds.
Q4 Q4 Full year
2009 2010 (MNOK) 2010 2009
3 566 3 707 Operating revenues 13 768 12 745
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541 562 EBITDA 2 199 1 494
348 424 EBITA( 1)) 1 611 832
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168 1 842 Profit (loss) before taxes 3 399 279
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0,62 16,72 Earnings per share (EPS) 27,04 4,74
1,51 2,61 Adjusted Earnings per share (EPS) 9,72 4,42
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CAPEX 427 390
Cash flow from operations per share (NOK) 19,74 19,34
Net interest bearing debt (NIBD) 1 820 2 554
Net interest bearing debt/EBITDA last 12 months 0,8 1,7
Equity share 42,4 % 34,7 %
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(1) )Operating profit before impairment loss and other revenues and expenses.
Contact person:
Trond Berger, CFO. Tel: +47 916 86 695
Oslo, 18 February 2011
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.
4th Quarter 2010:
http://hugin.info/131/R/1490353/425937.pdf
Financial and analytical information Q4 2010:
http://hugin.info/131/R/1490353/425939.xls
Presentation of 4th quarter 2010:
http://hugin.info/131/R/1490353/425938.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#1490353]
Unternehmensinformation / Kurzprofil:
Datum: 18.02.2011 - 07:01 Uhr
Sprache: Deutsch
News-ID 51659
Anzahl Zeichen: 7730
contact information:
Town:
Oslo
Kategorie:
Business News
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