Vend Marketplaces Asa · OSL:VEND

Vend Marketplaces Asa — Schibsted — Q1 2011 Earnings Presentation

71 slides from Vend Marketplaces Asa's earnings presentation, May 2011

  1. Slide 1: Quarterly results Q1 2011

    Quarterly results Q1 2011 Rolv Erik Ryssdal, CEO Trond Berger, CFO Terje Seljeseth, CEO Schibsted Classified Media

  2. Slide 2: Disclaimer

    Disclaimer This presentation (hereinafter referred to as the "presentation") has been prepared by Schibsted asa ("Schibsted" or the "Company") exclusively for information purposes, and does not constitute an offer to sell or the solicitation of an offer to buy any financial instruments. Reasonable c

  3. Slide 3: Agenda

    Agenda  Q1 highlights  Media Houses in Q1  Online classifieds in Q1  Income statement and Financials  Schibsted Classified Media  Outlook

  4. Slide 4: Q1 2011 highlights

    Q1 2011 highlights  Continued profit improvement and top line growth in Q1  EBITDA NOK 447 million (418 in Q1 2010). Revenue growth 7%  Strong quarter for Online operations.  Online classifieds revenue growth of 28%. Good online growth in Media houses  Additional new ventures in Schibsted Class

  5. Slide 5: Q1 2011 highlights

    Q1 2011 highlights Underlying Revenue Change EBITDA margin Q1 2011 y/y* Q1 11 Q1 10 Group 3 496 7% 13 % 13 % Media Houses Scandinavia 2 436 2% 10 % 11 % Media Houses International 242 7% -2 % -3 % Online Classifieds 830 28 % 31 % 30 % *) Growth adjusted for acquisitions, divestments and currency flu

  6. Slide 6: Revenue split Q1 2011

    Revenue split Q1 2011 Total revenue MNOK 3,496 Media Houses Online online classifieds 11 % 24 % Media Houses Media offline Houses advertising other 28 % 7% Media Houses Media single copy Houses 18 % subscription 13 % Q1 2011 6

  7. Slide 7: Continued EBITDA growth in Q1

    Million NOK 100 200 300 400 500 600 0 EBITDA Q1 418 2010 Media Norge ex 46 Finn VG (30) SCH Sverige (13) Media Houses (11) other Online classifieds 92 Established Online Increased investment in classifieds New (32) Blocket roll outs Investments Other (23) Q1 2011 Continued EBITDA growth in Q1 EBITDA

  8. Slide 8: Q1 2011 operations

    Q1 2011 operations Online classifieds Media Houses Finn.no (owned by Media Norge Media Norge) Schibsted Classified VG Media Hitta (owned by Schibsted Sverige Schibsted Sverige) International Key figures Q1 2011: Revenue: MNOK 830 MNOK 2,678 Other/eliminations: Revenue MNOK -12 EBITDA: MNOK 261 MNOK

  9. Slide 9: Agenda

    Agenda  Q1 highlights  Media Houses in Q1  Online classifieds in Q1  Income statement and Financials  Schibsted Classified Media  Outlook

  10. Slide 10: Media Houses

    Media Houses Improvement for morning newspapers, challenging volume development for tabloids +3%* 3000 30 % 2500 25 % 2000 20 % MNOK 1500 15 % 1000 10 % 500 5% 0 0% -500 -5 % Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2009 2010 2011 Revenue EBITDA margin *) Underlying growth, adjusted for currency effects, acquired

  11. Slide 11: Improved markets and firm cost control in Media Norge

    Media Houses Scandinavia Improved markets and firm cost control in Media Norge  Q1 advertising revenues in Media Norge media houses Media Norge media houses increased 9% 1200 30 % 1000 25 %  Recruitment +10% 800 20 % MNOK  Real estate +8% 600 15 % 400 10 % 13%  Circulation revenues increased 1%

  12. Slide 12: Broad improvement in Media Norge media houses

    Media Houses Scandinavia Broad improvement in Media Norge media houses Aftenposten group Bergens Tidende Stavanger Aftenblad Fædrelandsvennen 600 30 % 300 30 % 180 30 % 120 30 % 6% 500 25 % 250 +8% 25 % 150 +9% 25 % 100 +4% 25 % 400 20 % 200 20 % 120 20 % 80 20 % 13 % 13 % 13 % 14 % 300 15 % 150 15

  13. Slide 13: Merger with Media Norge

    Merger with Media Norge  Merger finalized and effective as of 12 May 2011  Improving the opportunity for cooperation across the Schibsted group  Values Media Norge at NOK 7,25 bn. including cash. Main assets: 1. Media Houses Aftenposten, Bergens Tidende, Stavanger Aftenblad, and Fædrelandsvennen

  14. Slide 14: Circulation decline for print newspapers in Sweden

    Media Houses Scandinavia Circulation decline for print newspapers in Sweden Schibsted Sverige media house* 1000 50 %  Schibsted Sverige Q1 EBITDA SEK 57 million 800 40 % (78 million) MSEK 600 30 %  Reduced single copy circulation volume puts 400 20 % 6% pressure on circulation revenues 200 10 % 0

  15. Slide 15: Circulation volume decline hampers Aftonbladet

    Media Houses Scandinavia Circulation volume decline hampers Aftonbladet Print 500 50 %  Q1 EBITDA SEK 27 million (SEK 42 million) 400 40 %  MSEK Advertising revenue increased by 2% 300 30 % 200 20 %  Circulation revenues declined due to 12% volume 6% decline and scale down of low margin supplemen

  16. Slide 16: Challenging circulation, advertising decline in VG

    Media Houses Scandinavia Challenging circulation, advertising decline in VG Print  Circulation revenues decreased by 6% in Q1 Y/Y as 500 50 % a consequence of continued circulation decline 400 40 %  Circulation volume decline of 12% on weekdays MNOK 300 30 % 200 12% 20 %  Print advertising revenu

  17. Slide 17: Single copy sold newspapers – The Q1 2011 facts

    Media Houses Scandinavia Single copy sold newspapers – The Q1 2011 facts  Reduced circulation revenue due to Print volume decline: 10-12% volume decline 2011 2010 Change  Operating expenses on print reduced EBITDA 35 63 -28 - print 27 42 -15  Increased operating expenses - online 8 21 -13 online

  18. Slide 18: Single copy sold newspapers – Actions

    Media Houses Scandinavia Single copy sold newspapers – Actions 1. Efforts to slow down the circulation volume decline  Adapt and improve the products  Optimize the cover price structure, price increases will be considered 2. Adjust the cost base to the revenue development.  Optimization of the or

  19. Slide 19: Good growth in France and Baltics. Still challenging in Spain

    Media Houses International Good growth in France and Baltics. Still challenging in Spain 20 40 % Baltics  Good advertising growth in Estonia, partly helped 15 30 % by elections 10 20 % 9% 5 10 %  Particularly good growth for Kanal 2 0 0%  Firm cost control and margin improvement Q1 10 Q1 11 Reven

  20. Slide 20: Agenda

    Agenda  Q1 highlights  Media Houses in Q1  Online classifieds in Q1  Income statement and Financials  Schibsted Classified Media  Outlook

  21. Slide 21: Online classifieds: continued strong growth and margin improvement

    Online classifieds Continued strong growth and margin improvement +28%* 900 90 % 800 80 % 700 70 % 600 60 % 500 50 % MNOK 400 40 % 300 30 % 200 20 % 100 10 % 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2009 2010 2011 Revenue EBITDA margin EBITDA margin ex SCM New Ventures *) Underlying growth, adjusted for curr

  22. Slide 22: Strong growth and high margins maintained in Finn.no

    Online classifieds Strong growth and high margins maintained in Finn.no  EBITDA of NOK 131 million in Q1* (NOK 88 mill) Finn.no  Q1 EBITDA margin 47% (42%) 300 60 % 250 50 %  Operating revenues NOK 277 million, 200 40 % 47% a growth of 31%, helped by volume and price, as MNOK 150 30 % well as new

  23. Slide 23: Stable growth rate and high margins in Blocket/Bytbil

    Online classifieds Stable growth rate and high margins in Blocket/Bytbil  EBITDA of SEK 90 million in Q1 (SEK 84 mill) Blocket/Bytbil 200 100 %  Q1 operating margin 56% (59%) 80 % 150  Operating revenues SEK 161 million, a growth of 100 60 % MSEK 56% 40 % 14% driven by volume, price adjustments a

  24. Slide 24: Strong growth and margin development in Spain and France

    Online classifieds Strong growth and margin development in Spain and France  EBITDA EUR 14.5 million in Q1 (EUR 10.0 mill) SCM International* 40 80 %  EBITDA margin 39% vs 37%** 30 60 %  29% growth in revenues compared to Q1 2010 on MEUR 20 40 % a comparable base 39% 10 20 %  Spain: Continued go

  25. Slide 25: Leboncoin.fr a top three online site in France

    Leboncoin.fr a top three online site in France Top 10 Sites, France Page Views, March  Continued strong growth and facebook.com 40 000 000 000 high margins in Q1 2011 leboncoin.fr 6 000 000 000  Revenues increased 81% Y/Y orange.fr 5 900 000 000  6 billion page views in March youtube.com 3 600 00

  26. Slide 26: Established European footprint combined with growth opportunities

    Online classifieds Established European footprint combined with growth opportunities Highly profitable #1 positions All verticals Norway Cars + general Sweden Cars + general France Jobs General Spain Real estate Cars Operations in Established phase Operations in Investment phase Q1 2011 26

  27. Slide 27: Agenda

    Agenda  Q1 highlights  Media Houses in Q1  Online classifieds in Q1  Income statement and Financials  Schibsted Classified Media  Outlook

  28. Slide 28: Income statement Schibsted Group – headlines for Q1 2011

    Income statement Schibsted Group – headlines for Q1 2011  Revenues NOK 3.5 billion (3.3 billion)  Total revenue underlying +7% Y/Y  Advertising revenue Online classifieds and Media Houses +14%  Operating profit (EBITDA) NOK 447 million (NOK 418 million)  Includes NOK 32 million in increased inv

  29. Slide 29: Income statement Schibsted Group

    Income statement Schibsted Group (NOK million) Q1 2011 Q1 2010 2010 2009 Operating revenues 3,496 3,258 13,768 12,745 Operating expenses (3,055) (2,845) (11,605) (11,184) Income from associated companies 6 5 36 (67) Gross operating profit (EBITDA ) 447 418 2,199 1,494 Depreciation and amortization (

  30. Slide 30: Continued cyclical recovery, but not yet back to peak levels

    Continued cyclical recovery, but not yet back to peak levels Print advertising – Schibsted’s Scandinavian newspapers 1 200 1 000 Million NOK 800 600 400 200 - 2008 2009 2010 2011 2008 2009 2010 2011 2008 2009 2010 2011 2008 2009 2010 2011 Q1 Q2 Q3 Q4 Print advertising revenues for Aftenposten, Berge

  31. Slide 31: Key financial figures

    Key financial figures Earnings per share Cash flow from operations per share NOK NOK 20 12 16,72 16 10 8,99 8,04 12 8 8 6,87 6 4,24 4,45 4,12 4,20 3,57 4 1,99 4 3,2 1,46 1,45 1,53 2,43 2,40 0,62 0 2 -0,71 -4 0 Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111

  32. Slide 32: Strong balance sheet, free float increased

    Strong balance sheet, free float increased  NIBD/EBITDA 0.9 at end of Q1 Debt maturity profile 3 500  Total liquidity reserve of NOK 3.9 3 000 billion 2 500  Effect of Media Norge transaction Mill. NOK 2 000 in Q2 2011: 1 500  NOK 345 million in cash payment 1 000  Number of treasury shares wil

  33. Slide 33: Increased dividend proposed

    Increased dividend proposed  Dividend proposed at 5,00 NOK per share 4,78 4,50 NOK 3.00 per share 4,00 3,99  100% increase since 3,50 3,39 3,00 3,00 last year 2,50 2,39 2,59  Equals NOK 324 2,00 1,59 1,59 1,59 1,50 million based on total 1,50 1,39 1,39 1,00 number of shares 0,50 issued 0,00 1998

  34. Slide 34: Tight cost control in Media Houses, increased marketing within online

    Tight cost control in Media Houses, increased marketing within online Main increase in SCM and Finn.no 3100 3055 Head count increase in 142 Online operations. 3000 Reductions in print 61 2900 47 (34) 2845 (6) 2800 Higher paper prices, but lower volume 2700 Currency Marketing & other Personnell Raw m

  35. Slide 35: Continued efforts to streamline operations and reduce cost

    Continued efforts to streamline operations and reduce cost  NOK 1.7 billion profitability programme was delivered by Q4 2010  Efforts to streamline operations and reduce expenses continues in 2011  Continuous Improvement projects (Lean) across the Group  Shared service centres are established in

  36. Slide 36: Main comments related to EBITDA development as of Q1 2011

    Main comments related to EBITDA development as of Q1 2011  As of Q1 2011 focus in presentations and comments will be put on EBITDA  A better measure for underlying performance and cash flow  The most common measure for comparing valuation multiples and performance between companies in the media i

  37. Slide 37: Agenda

    Agenda  Q1 highlights  Media Houses in Q1  Online classifieds in Q1  Income statement and Financials  Schibsted Classified Media  Outlook

  38. Slide 38: Schibsted Classified Media - today's topics

    Schibsted Classified Media - today’s topics  Why do we believe so strongly in online classifieds?  How do we look at our portfolio of assets?  How is it going? Q1 2011 38

  39. Slide 39: Online classifieds has a great audience potential

    Online classifieds has a great audience potential… Top 10 Sites, Norway Top 10 Sites, Sweden Top 10 Sites, France Unique Users, March Unique Users, March Unique Users, March facebook.com 3 500 000 facebook.com 6 100 000 facebook.com 34 000 000 vg.no 2 800 000 youtube.com 5 600 000 youtube.com 28 000

  40. Slide 40: ...and a superior ability to create page views!

    …and a superior ability to create page views! Top 10 Sites, Norway Top 10 Sites, Sweden Top 10 Sites, France Page Views, March Page Views, March Page Views, March facebook.com 3 700 000 000 facebook.com 7 200 000 000 facebook.com 40 000 000 000 finn.no 890 000 000 blocket.se 1 100 000 000 leboncoin.

  41. Slide 41: Very attractive economics in online classifieds

    Very attractive economics in online classifieds – but you need to become #1! EBITDA margin High margins for players that are 100% much larger than #2 50–70% 30–50% 5–30% Sources: Margin: Company reports and presentations Size vs 0% #2:Pageviews(AdPlanner), 1x 3—5x 8—10x active objects where applicab

  42. Slide 42: The Blocket Concept life stages

    The Blocket Concept life stages StartupPhase Traction Phase Established Phase (Baby) (Teenager) (Adult) All babies start off the same, they They start having ambitions, Market leaders aiming for world play around, grow fast and cost a establish their own identity and class and earning money to suppo

  43. Slide 43: Our assets - what is their job?

    Our assets - what is their “job”? Asset phase Main focus Assets (not exhaustive) Established phase • Create/maintain value • Blocket leadership based on • Infojobs Spain sustained volume leadership • Anuntis Spain • Leboncoin Investment phase • Gain clear volume • Subito.it Stage 2 leadership • Will

  44. Slide 44: Startup, Traction and Established phases

    StartupPhase Traction Phase Established Phase (Baby) (Teenager) (Adult) All babies start off the same, they They start having ambitions, Market leaders aiming for world play around, grow fast and cost a establish their own identity and class and earning money to support lot of money! want to become

  45. Slide 45: Established phased assets: Doing their job very well!

    Established phased assets: Doing their job very well! Sweden International* 200 100 % 40 100 % 35 80 % MEUR 150 75 % 30 25 MSEK 60 % 100 50 % 20 57% 15 40 % 39% 50 25 % 10 20 % 5 0 0% 0 0% Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Revenues EBITA margin Reven

  46. Slide 46: Startup, Traction and Established phases

    StartupPhase Traction Phase Established Phase (Baby) (Teenager) (Adult) All babies start off the same, they They start having ambitions, Market leaders aiming for world play around, grow fast and cost a establish their own identity and class and earning money to lot of money! want to become self-sus

  47. Slide 47: willhaben catching up with ebay.at

    willhaben catching up with ebay.at Page Views / Month, Doubleclick Ad Planner willhaben ebay.at 400 000 000 350 000 000 300 000 000 250 000 000 200 000 000 150 000 000 100 000 000 50 000 000 - 1001 1102 0903 0904 0905 0906 0907 0908 0909 0910 0911 0912 1002 1003 1004 1005 1006 1007 1008 1009 1010 10

  48. Slide 48: Subito catching up with ebay.it

    Subito catching up with ebay.it Page Views / Month, Doubleclick Ad Planner Subito eBay.it 1 200 000 000 1 000 000 000 800 000 000 600 000 000 400 000 000 200 000 000 - 1012 0901 0902 0903 0904 0905 0906 0907 0908 0909 0910 0911 0912 1001 1002 1003 1004 1005 1006 1007 1008 1009 1010 1011 1101 1102 11

  49. Slide 49: CustoJusto catching up with OLX.pt

    CustoJusto catching up with OLX.pt Page Views / Month, Doubleclick Ad Planner CustoJusto OLX.pt 100 000 000 90 000 000 80 000 000 70 000 000 60 000 000 50 000 000 40 000 000 30 000 000 20 000 000 10 000 000 - 0903 1005 0904 0905 0906 0907 0908 0909 0910 0911 0912 1001 1002 1003 1004 1006 1007 1008 1

  50. Slide 50: Startup, Traction and Established phases

    StartupPhase Traction Phase Established Phase (Baby) (Teenager) (Adult) All babies start off the same, they They start having ambitions, Market leaders aiming for world play around, grow fast and cost a establish their own identity and class and earning money to support lot of money! want to become

  51. Slide 51: A network of sites and hubs – sharing best practice, creating value

    A network of sites and hubs – sharing best practice, creating value Worldwide network of experts We have systematically established competence sharing programs within our group Also sharing knowledge between companies in different stages of development Q1 2011 51

  52. Slide 52: Agenda

    Agenda  Q1 highlights  Media Houses in Q1  Online classifieds in Q1  Income statement and Financials  Schibsted Classified Media  Outlook

  53. Slide 53: Outlook

    Outlook  Scandinavia: Continued firm advertising markets for Media Houses, and good growth for online classifieds expected.  International: Continued strong growth for online classifieds expected  Continued weak trend expected for single copy sold newspapers. More stable circulation expected for

  54. Slide 54: Schibsted Media Group

    ey SCHIBSTED MEDIA GROUP

  55. Slide 55: Appendices

    Appendices Spreadsheet containing detailed Q1 2011 and Historical and analytical Information can be downloaded from www.schibsted.com/ir Q1 2011 55

  56. Slide 56: Schibsted ASA basic data

    Schibsted ASA basic data Ticker Oslo Stock Exchange: SCH Reuters: SBST.OL Bloomberg: SCH NO Number of shares (31 March 2011) 108,003,615 Treasury shares (31 March 2011) 4,082,837 Number of shares outstanding 103,920,778 Free float* 70 % Share price (31 March 2011) NOK 162.30 Market cap (31 March 201

  57. Slide 57: Top 20 shareholders

    Top 20 shareholders Rank Name Holding Share 1 Blommenholm Industrier AS 28,188,589 26.1 % 2 Folketrygdfondet 8,010,212 7.4 % 3 JPMorgan Chase Bank * 7,038,490 6.5 % 4 Schibsted ASA 3,943,337 3.7 % 5 Bank Of New York Mellon * 3,745,428 3.5 % 6 NWT Media As 2,962,619 2.7 % 7 State Street Bank And Trus

  58. Slide 58: Shareholder analysis

    Shareholder analysis Rank Fund Manager Shares % at % at 14/04/11 12/01/11 1 Blommenholm Industrier AS 28,188,589 26.10 26.10 2 Folketrygdfondet 8,010,212 7.42 8.03 3 Fidelity Investments 7,982,193 7.39 5.23 4 Tw eedy Brow ne 5,393,419 4.99 4.99 5 Taube Hodson Stonex Partners 5,190,468 4.81 4.93 6 Sc

  59. Slide 59: Circulation development - YTD

    Circulation development - YTD Circulation Change Change Circulation Change Per Q1 2011 2010-2011 revenue 2010-2011 Media Norge w eekdays Media Norge Sunday 418 599 289 833 (9 091) (5 388) (2,1)% (1,8)% } 330 a) 0,9 % Verdens Gang w eekdays Verdens Gang Sunday 207 620 202 133 (29 546) (7 239) (12,5)%

  60. Slide 60: Advertising – Print editions

    Advertising – Print editions Volum e 1) Change Revenues Change Per Q1 2011 2010-2011 (NOK m illion) 2010-2011 Media Norge 32 184 11,3 % 524 10,8 % Verdens Gang 2 674 (5,8) % 87 (13,9) % Aftonbladet 2) 3 857 (14,3) % 91 2,2 % Svenska Dagbladet 2) 5 824 (4,0) % 128 3,2 % 1) Column meters 2) SEK millio

  61. Slide 61: Advertising revenues Media Norge

    Advertising revenues Media Norge 2008 2009 2010 2011 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Offline advertising revenues 648 696 519 574 481 489 393 503 471 543 428 550 524 Aftenposten 350 380 251 293 250 248 198 256 237 279 216 277 271 Bergens Tidende 133 152 105 124 103 105 88 112 106 116 94 123 1

  62. Slide 62: Advertising revenue split Aftenposten print newspaper

    Advertising revenue split Aftenposten print newspaper Aftenposten AS Figures in NOK million Q1 07 Q2 07 Q3 07 Q4 07 Q108 Q208 Q308 Q408 Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Total classified 228 233 193 193 208 215 141 135 137 128 106 121 129 147 117 123 143 Recruitment 113 106 79 93 100 97 6

  63. Slide 63: Key financial figures

    Key financial figures Per Q1 Per Q4 2011 2010 2010 2009 Operating profit (EBITDA) (NOK million) 447 418 2 199 1 494 Operating margins (%): Operating margin (EBITDA) 12.8 12.8 16.0 11.7 Operating margin before ass. companies 8.7 8.0 11.4 7.0 Operating margin (EBITA) 8.9 8.2 11.7 6.5 EPS (NOK) 1.53 1.

  64. Slide 64: Capital structure

    Capital structure Per Q1 Per Q4 2011 2010 2010 2009 Investments (NOK million): Operational investments (capex) 118 71 427 390 Shares and other holdings 20 3 1 880 196 Interest bearing debt (NOK million) 2 657 3 018 2 478 3 809 Net interest bearing debt (NOK million) 1 990 2 389 1 820 2 554 Interest

  65. Slide 65: Market leading newspapers in Norway and Sweden

    Market leading newspapers in Norway and Sweden Schibsted owns six of top ten Schibsted owns two of top seven paid newspapers in Norway newspapers in Sweden Daily readership (‘000) Penetration¹ Daily readership (‘000) Penetration² 22% 1 078 15% 884 17% 962 13% 663 431 11% 821 11% 315 8% 544 8% 266 7%

  66. Slide 66: Market leading positions online in Norway and Sweden

    Market leading positions online in Norway and Sweden Million Million Sweden Unique Norway Unique Site visitors Site visitors 1 Aftonbladet 5.5 1 VG Nett 3.7 2 MSN.se 5.5 2 Finn.no 2.7 3 Hotmail 4.9 3 NRK.no 2.5 4 blocket.se 4.7 4 Dagbladet.no 2.3 5 hitta.se 4.0 5 MSN 2.3 6 Eniro.se 2.7 6 Startsiden

  67. Slide 67: Daily reach for Media Houses in Sweden – print and online

    Daily reach for Media Houses in Sweden – print and online Aftonbladet 2 522 Expressen, GT, Kvällsposten 1 607 DN 1 116 GP 588 Sydsvenskan 361 0 500 1000 1500 2000 2500 3000 Number of daily readers for media house online and print platforms Source: SIFO approved calculation of Orvesto internet, Ovest

  68. Slide 68: Number 1 positions in Spain, France and Italy

    Number 1 positions in Spain, France and Italy Market Site Market position No. 1 recruitment No. 1 generalist classifieds Spain No. 1 cars No. 1/2 real estate No. 3 news site No. 3 recruitment No. 1 general merchandise France No. 5 news site Source: Google AdPlanner, No. 1 in recruitment Unique Visit

  69. Slide 69: Historical development

    Historical development 1839 Chr. Schibsted Forlag (publishing house) 2005 Acquisition of Hitta.se founded 2005 Launch of Sesam and acquisition of 1860 Christiania Adresseblad launched in Oslo – Internettkatalogen renamed Aftenposten in 1861 2006 Schibsted International Classifieds & Search – 1966 Ta

  70. Slide 70: Investor information

    Investor information  Visit Schibsted’s homepages  www.schibsted.com/ir  Jo Christian Steigedal, VP Investor Relations jcs@schibsted.no Tel: +47 2310 6600 Schibsted ASA Apotekergaten 10, P.O. Box 490 Sentrum, NO-0105 Oslo Tel: +47 23 10 66 00. Fax: +47 23 10 66 01. E-mail: schibsted@schibsted.no

  71. Slide 71: Schibsted Media Group

    ey SCHIBSTED MEDIA GROUP

Schibsted — Q1 2011 Earnings Presentation on 6ix