Vend Marketplaces Asa · OSL:VEND
Vend Marketplaces Asa — Schibsted — Debt Investor Presentation (May 2023)
21 slides from Vend Marketplaces Asa's debt investor presentation, May 3, 2023
Slide 1: Contemplating new bond issue presentation
Contemplating new bond issue presentation 3 May 2023 Jann-Boje Meinecke, Head of IR | Catharina Thorenfeldt, Group Treasurer | Britt Nilsen, Head of Sustainability
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 ca
Slide 3: Schibsted has a strong and unique position in the Nordics
Schibsted Introduction Schibsted has a strong and unique position in the Nordics High frequency of consumer interactions Superior Nordic consumer reach 3.3 million daily logged in users 80% of inhabitants in 1 billion visits per month Norway & Sweden reached Present per week across life situations &
Slide 4: In a challenging macro environment, 2022 was a solid year
Schibsted Introduction In a challenging macro environment, 2022 was a solid year Selected proof points High engagement and An attractive employer Good progress on Solid financial results reach for our products and business partner sustainability dimensions in a turbulent market 3.1m 3.3m 81 vs. EU b
Slide 5: Important changes made to further strengthen our positions and profitability for the future
Schibsted Introduction Important changes made to further strengthen our positions and profitability for the future Nordic News Growth & Marketplaces Media Investments Introduced a new Adjusted the Refocused our vertical-based growth path investment operating model strategy Strengthened our NOK 500m
Slide 6: Value creation will be driven by four main value levers
Schibsted Introduction Value creation will be driven by four main value levers Purpose 1 3 Grow, transform and Invest close to core in Joint customer propositions expand marketplace businesses that benefit positions from Schibsted as owner Investments Growth & 2 4 Develop digital and Nordic News Pro
Slide 7: Solid classifieds revenue growth; EBITDA affected by revenue mix and increased costs
Nordic Marketplaces Solid classifieds revenue growth; EBITDA affected by revenue mix and increased costs Nordic Marketplaces Revenue split Nordic Marketplaces Revenues (NOKm), EBITDA margin (%) Revenues Q1 2023 (share in %) YoY growth 6%* Other -2%* YoY Advertising -13%* YoY 7% 9% Classifieds 84% +1
Slide 8: Financially weak quarter due to advertising and continued pressure in print profitability
News Media Financially weak quarter due to advertising and continued pressure in print profitability News Media Highlights Revenues (NOKm), EBITDA margin (%) YoY growth -2%* • Revenues down due to market headwinds within advertising and accelerated volume decline within print subscriptions and casua
Slide 9: Revenue growth in Helthjem offset by Morgenlevering
Delivery Revenue growth in Helthjem offset by Morgenlevering Delivery Highlights Revenues (NOKm), EBITDA margin (%) YoY growth -1% • Revenue down YoY due to Morgenlevering and lapse of Sunday distribution • Helthjem Netthandel up 25% thanks to increased volumes in B2C and higher C2C volumes related
Slide 10: High single-digit revenue growth and improved profitability
Growth & Investments High single-digit revenue growth and improved profitability Growth & Investments Highlights Revenues (NOKm), EBITDA margin (%) YoY growth 8%** • Solid revenue growth in Lendo, up 8%* YoY • Strong quarter for Prisjakt with revenues up 18%* YoY, despite tough e-commerce market, dr
Slide 11: Q1 Group EBITDA behind last year, mainly driven by News Media
Finance Q1 Group EBITDA behind last year, mainly driven by News Media Schibsted Group Schibsted Group Q1 revenues, EBITDA (NOKm) Q1 EBITDA per segment (NOKm) YoY growth 1%* Revenues Q1 2021 Q1 2022 Q1 2023 EBITDA 11 * Foreign exchange neutral basis and including pro-forma revenues for 3byggetilbud.d
Slide 12: Q1 income statement Schibsted Group
Finance Q1 income statement Schibsted Group Increase mainly explained by general increase in intangible assets, high KPI Income statement First quarter adjustments on lease agreements, and (NOK million) 2022 2023 shorter life spans for certain platform Operating revenues 3,648 3,776 components in No
Slide 13: Q1 EBITDA, operating cash flow and capex
Finance Q1 EBITDA, operating cash flow and capex EBITDA Operating cash flow Capex (NOKm) (NOKm) (NOKm) YoY -12% 57% -11% 13
Slide 14: Financial medium-term targets unchanged
Finance Financial medium-term targets unchanged Nordic Marketplaces News Media Mobility Jobs Real Estate Recommerce Triple revenues Low to mid Revenue growth 12-17% single-digit 12-17% from 2022 to Low single-digit 2025 EBITDA EBITDA margin 51-56% Above 50% 42-47% break-even 10-12% during 2025 14 No
Slide 15: Solid financial position; ongoing share buyback program increases financial gearing as planned
Finance Solid financial position; ongoing share buyback program increases financial gearing as planned Debt maturity profile Financial gearing back within target range (NOKm) (NIBD/EBITDA according to bank definition) 15
Slide 16: Current bond portfolio
Finance Current bond portfolio In conjunction with the contemplated new bond issue, Schibsted ASA will consider the buyback of its outstanding bonds maturing in 2023. * Net amount after buyback of own bonds 16
Slide 17: Sustainability at Schibsted
ESG Sustainability at Schibsted Impact Integrated in Trust and through our the strategy transparency business 17
Slide 18: Sustainability maturity ladder – value creation
ESG Sustainability maturity ladder – value creation Business development • New products/services • New target groups Profitability • New markets • Attract investors • Attract and retain employees • Reducing costs Minimising risks & transparency • Product safety and quality • Strengthened brand • Fol
Slide 19: How we make a difference
ESG How we make a difference 19
Slide 20: Q&A
Q&A 3 May 2023 Jann-Boje Meinecke, Head of IR Catharina Thorenfeldt, Group Treasurer Britt Nilsen, Head of Sustainability 20
Slide 21: Investor contact
Investor contact Visit Schibsted’s website schibsted.com Email: ir@schibsted.com Jann-Boje Meinecke VP, Head of IR +47 941 00 835 Malin Langtvet IR Officer +47 916 86 710 Schibsted ASA Akersgata 55 / P.O. Box 490 Sentrum NO-0105 Oslo