Schibsted : Schibsted ASA (SCH) - Interim Financial Statement Q4 2012 Today, Schibsted Media Group released its Q4 2012 report, which shows operating revenues of NOK 3.8 billion. This was underlying and increase of 1 percent. The Online classifieds operations increased their revenues by 14 percent underlying. The revenues of the media houses in Norway and Sweden declined by underlying 2 and 4 percent, respectively. - Q4 was another solid quarter for Schibsted Media Group. Our Online classifieds operations continue to perform well, capturing market shares and expanding products and service offerings. The Media houses are in the middle of a structural transition from print to online platforms. Our ambition is to create world class digital media houses, although the encouraging revenue increases in the online operations are not yet sufficient to compensate fully for the revenue decline in the print part of the business, CEO Rolv Erik Ryssdal says. - Finn.no and our French site Leboncoin.fr were the main growth drivers in the Online classifieds operations. Blocket.se also performed well in a somewhat softer Swedish market. Over the past few years we have also created profitable number one positions in Italy, Austria and Malaysia. Our sites have strengthened their market leadership in 2012, lending further confidence in the business model and our return on investment over time. We are continuing to invest in our successful online classifieds concepts, and despite tough competition we see positive development also in early stage operations such as Bomnegócio.com in Brazil. We will concentrate on our core markets and expansion into selected new geographies. We aim for the number one positions in the markets where we are present, Rolv Erik Ryssdal says. - In the Media Houses we are meeting the challenges in print media with cost reduction programs, and ongoing efficiency measures that are progressing as planned. At the same time we are allocating more resources to our digital activities, and here the results are encouraging. The declining trend in print advertising is expected to continue. Hence continued online growth and innovation will be crucial to secure the future with a fundament of high quality editorial products combined with healthy financial results, CEO Rolv Erik Ryssdal says. Highlights of Q4 2012 (Figures in brackets refer to the corresponding period in 2011. Underlying figures are adjusted for currency effects and acquisitions and divestments.) o1 percent underlying growth in Group operating revenues. Online classifieds grew 14 percent underlying; 19 percent growth excluding the Spanish online classifieds operations. oGroup EBITDA of NOK 497 million (549 million), with increased earnings in Online classifieds but decline in Media houses oOnline classified report 28 percent EBITDA margin, and 42 percent EBITDA margin excluding Investment phase oSolid performance in the key established operations in Norway, France, and Sweden oSpanish operations hurt by weak economy and job market oItaly, Austria and Ireland reinforce market leadership while continuing to show revenue and profit growth oStrong traffic development and improved market positions in new markets, including Brazil oMedia houses report 11 percent EBITDA margin in Norway and 13 percent in Sweden oContinued decline in Print advertising as the migration from print to online continues oGood Online growth in both Norway and Sweden, particularly from mobile activities oComprehensive transition and cost reduction program ongoing and on track oImpairment loss of NOK 350 million, mainly in Spain, and NOK 179 million in Metro Sweden reflect weak economic environment and structural changes oRestructuring charges of NOK 257 million related to the transition program in the Media houses oDividend payment of NOK 3.50 per share (unchanged) proposed for 2012; a balanced proposal in a period of significant online growth investments Q4 Q4 Full year 2011 2012 (MNOK) 2012 2011 3,744 3,811 Operating revenues 14,763 14,378 Gross operating profit 549 497 (EBITDA) 2,028 2,185 15 % 13 % EBITDA margin 14 % 15 % Gross operating profit 702 609 (EBITDA) ex. Investment phase 2,558 2,597 EBITDA margin ex. Investment 19 % 16 % phase 17 % 18 % 152 (415) Profit (loss) before taxes 683 1 331 Adjusted Earnings per share 2.14 2.42 (EPS) 8.41 8.76 Schibsted invites to an analyst and press conference at Apotekergaten 10, Oslo, 13 February 2013 at 09.00 CET. The presentation will be transmitted live as a webcast on www.schibsted.com/ir. A conference call with Q&A linked to the Q4 2012 results will take place 13 February 2013 at 14:00 CET. Please dial in at the following numbers: International: +44(0)20 3450 9987 From Norway: 800 56054 Conference code: 4552781 Contact person: Trond Berger, CFO. Tel: +47 916 86 695 Oslo, 13 February 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. Financials and analytical info Q4 2012 Presentation of 4th Quarter 2012 4th Quarter 2012 ------------------------------------------------------------------------------ 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#1677600
Schibsted : Schibsted ASA (SCH) - Interim Financial Statement Q4 2012
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