25.10.2023 07:00:01 CEST | Schibsted | Half yearly financial reports and audit
reports / limited reviews

Today, Schibsted released its Q3 2023 results.

Robust growth in Nordic Marketplaces, and improved News Media profitability

"Despite the challenging macroeconomic environment, I am happy to report that
Schibsted has navigated the 'rough seas' well in the third quarter, delivering
an underlying¹ revenue growth of 1 per cent, and a Group EBITDA of NOK 741
million, 13 per cent up from the same period last year," CEO Kristin Skogen Lund
says.

"Driven by a strong top-line growth in the Mobility, Real Estate and Recommerce
verticals, Nordic Marketplaces delivered robust underlying¹ revenue growth of 10
per cent in Q3, despite continued market headwinds in the Job vertical. The
top-line growth was a result of increased volumes in the first-mentioned
verticals, and a generally positive ARPA development. Following a year-on-year
decline in Nordic Marketplaces' EBITDA over the last few quarters, EBITDA ended
4 per cent above last year at NOK 504 million," CEO Kristin Skogen Lund says.

"News Media's profitability improved considerably compared to Q3 last year, with
an EBITDA of NOK 168 million and a 9 per cent margin. The improvement was a
consequence of cost reduction measures, as revenues in our News Media operations
declined by an underlying¹ 2 per cent. This was driven by continued market
headwinds within print advertising, digital advertising revenues in Sweden, as
well as lower volumes within casual sales and print subscriptions, while digital
subscription revenues and digital advertising revenues in Norway saw good
performance," CEO Kristin Skogen Lund says.

"Following several quarters of solid revenue growth and improved profitability,
performance in Growth & Investments in Q3 was affected by declining revenues in
our Swedish Lendo business, driven by the challenging macroeconomic factors, and
also somewhat softer trends within Prisjakt," CEO Kristin Skogen Lund says.

"Against the backdrop of our long history of investing in companies closely
related to our core business, and of seizing opportunities which arise in more
uncertain times, we have acquired a 10.1 per cent stake in Viaplay, a leading
Nordic entertainment platform, in Q3. As a next step, we have started a dialogue
with the company to further deepen our expertise, and will carefully evaluate
our options, with focus on strengthening our Nordic market positions and to
support value creation," CEO Kristin Skogen Lund says.

"Lastly, related to our Adevinta ownership, we are, as disclosed to the
financial markets on 21 September, involved in discussions regarding a potential
offer for all shares in Adevinta. Schibsted has expressed its support for the
proposal and has shared its expectation that if the transaction goes forward, it
would retain part of its current shareholding. These discussions are in line
with our prioritised options for Schibsted's ownership in Adevinta which have
been previously communicated to the financial markets. Further, the current
discussions are based on tremendous efforts over a longer period of time to find
an optimal solution for Schibsted and our shareholders. At this point, we are
not in a position to provide any further comments, and will come back with more
information when appropriate. We are enthusiastic about the potential
transaction but stress that discussions are still ongoing and there are no
assurances that the transaction will proceed," CEO Kristin Skogen Lund says.


This quarter's highlights

? Group: Revenues of NOK 3,853 million, 1 per cent underlying¹ revenue growth.
EBITDA of NOK 741 million, up 13 per cent YoY mainly driven by News Media.
? Nordic Marketplaces: Robust underlying¹ revenue growth of 10 per cent, driven
by strong top-line growth in Mobility, Real Estate and Recommerce. EBITDA of NOK
504 million, 4 per cent above last year.
? News Media: Underlying¹ revenues 2 per cent down due to the print business and
market headwinds in advertising. Considerable profitability improvement driven
by cost reductions, leading to an EBITDA of NOK 168 million and a margin of 9
per cent.
? Delivery: Revenue decline of 4 per cent driven by a continued decline in
Morgenlevering due to changes in consumers' shopping behaviour, combined with
the lapse of the Sunday distribution. EBITDA break-even driven by improved
profitability in Helthjem.
? Growth & Investments: 3 per cent underlying¹ revenue decline driven by market
headwinds in Lendo Sweden, somewhat offset by continued revenue growth in
Prisjakt. EBITDA down 13 per cent YoY, driven by the revenue decline in Lendo
and lower profitability in the rest of the portfolio.

                     | Third quarter            | Year to date              
----------------------------------------------------------------------------
(NOK million)        | 2023   | 2022   | Change | 2023    | 2022    | Change
----------------------------------------------------------------------------
 Schibsted Group     |        |        |        |         |         |       
----------------------------------------------------------------------------
 Operating revenues  |  3,853 |  3,756 | 3%     |  11,674 |  11,284 | 3%    
----------------------------------------------------------------------------
 - of which digital  |  2,808 |  2,592 | 8%     |  8,405  |  7,742  | 9%    
----------------------------------------------------------------------------
 EBITDA              |  741   |  655   | 13%    |  1,835  |  1,755  | 5%    
----------------------------------------------------------------------------
 EBITDA margin       | 19%    | 17%    |        | 16%     | 16%     |       

¹ Foreign exchange neutral basis 

Alternative performance measures used in this release are described and
presented in the section Definitions and reconciliations in the quarterly
report.


Programme for the day, 25 October 2023:

07:00 CET
Publication of the Q3 results including interim report, presentation and
financials and analytical information.

09:00 CET
CEO Kristin Skogen Lund and EVP CFO Per Christian Mørland will present the Q3
results as a virtual live webcast, followed by a Q&A session at which also EVP
Nordic Marketplaces and Delivery Christian Printzell Halvorsen will attend. The
presentation and following Q&A session will be held in English. The webcast can
be viewed live at:
https://channel.royalcast.com/landingpage/hegnarmedia/20231025_5/

For the Q&A, participants can send in written questions via Slido.
Link: https://www.slido.com
Event code: 3349100
It will not be possible to ask questions by phone.

Press/media can reach out to Øyvind Vormeland Salte (oyvind.salte@schibsted.com
), Communication Director, Norway, to set up separate one-on-one interviews with
CEO Kristin Skogen Lund.

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

Oslo, 25 October 2023
SCHIBSTED ASA

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,
   jbm@schibsted.com 
 * Malin Ebenfelt, Investor Relations Officer, +47 916 86 710, ir@schibsted.com 
 * Øyvind Vormeland Salte, Communucation Director, Norway, +47 992 39 021,
   oyvind.salte@schibsted.com 

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