Slide 1: Q3 2020 Results
Q3 2020 Results 28 October 2020 Kristin Skogen Lund, CEO Ragnar Kårhus, CFO
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: Adevinta reported as Discontinued operations beginning in Q3 2020
Adevinta reported as Discontinued operations beginning in Q3 2020 Following the announcement 21 July 2020, that Adevinta entered into a definitive agreement to acquire eBay Classifieds Group, Schibsted determined that Adevinta met the criteria for the classification of held-for-sale accounting and d
Slide 4: An exceptional quarter
An exceptional quarter Creating the world’s largest online classifieds platform with Adevinta and eBay Classifieds Group* Strengthening our position as the Nordic online classifieds champion with the acquisition of Oikotie in Finland and eBay Classifieds’ Danish operations* Very strong quarterly EBI
Slide 5: Good margins across all business areas
Good margins across all business areas Nordic Marketplaces News Media Financial Services Schibsted Growth Underlying revenue growth Strong growth for digital Revenues growth in Lendo Another quarter with good improved QoQ while Jobs subscriptions continued still impacted by COVID-19 revenue growth d
Slide 6: External and internal trends have improved, while volatility and uncertainty remains
External and internal trends have improved, while volatility and uncertainty remains Mobility trends recovered, Our website traffic is at higher Revenues have improved but unemployment rate still affected levels than pre-COVID-19 remain volatile Apple mobility trends, Sweden (rebased) VG.no’s daily
Slide 7: Following a systematic approach to deliver on our sustainability ambitions and targets
Following a systematic approach to deliver on our sustainability ambitions and targets Unique Empower circular and Independent and Empower people to aspects sustainable consumption high-quality journalism make informed choices Privacy and protection User safety and of user data fraud protection Focu
Slide 8: Nordic Marketplaces
Nordic Marketplaces a blocket _ tori Schibsted
Slide 9: Improved revenue trend QoQ driven by Real estate and Motor; Oikotie integration on track
Improved revenue trend QoQ driven by Real estate and Motor; Oikotie integration in Finland on track Nordic Marketplaces Revenues per country Revenues (NOKm), EBITDA margin (%) Revenues (NOKm, share in %) * Foreign exchange neutral basis; adjusted for acquisition of Oikotie (total revenue effect of N
Slide 10: Real estate drives revenue improvement QoQ; Jobs and Travel still significantly affected
Real estate drives revenue improvement QoQ; Jobs and Travel still significantly affected Marketplaces Norway Revenues (NOKm), EBITDA margin (%) Highlights • Real estate and Motor revenues growing YoY with an exceptional July as people vacationed in Norway rather than going abroad • Jobs, advertising
Slide 11: Listings continued to recover with strong July due to travel restrictions; good traffic growth
Listings continued to recover with strong July due to travel restrictions; good traffic growth Marketplaces Norway New approved ads (monthly growth YoY, %) Continued strong growth YoY in monthly visits (million) 11
Slide 12: Good performance within Motor vertical drives revenue growth recovery
Good performance within Motor vertical drives revenue growth recovery Marketplaces Sweden Revenues (NOKm), EBITDA margin (%) Highlights • Continued growth in Motor revenues driven by higher ARPD from visibility product “Bump” • Jobs still significantly affected by COVID-19, while trend for advertisi
Slide 13: Listings showed signs of improvements; continued strong traffic
Listings showed signs of improvements; continued strong traffic Marketplaces Sweden New approved ads (monthly growth YoY, %) Continued strong growth YoY in monthly visits (million) 13
Slide 14: Real estate and Generalist growing revenues YoY; Jobs and advertising still affected
Real estate and Generalist growing revenues YoY; Jobs and advertising still affected Marketplaces Finland Revenues (NOKm), EBITDA margin (%) Highlights • Oikotie integration progressing as planned, new country organization and management team in place • Real estate and Generalist revenue growth, whi
Slide 15: Jobs and Real estate listings started to show recovery supported by strong traffic growth
Jobs and Real estate listings started to show recovery supported by strong traffic growth Marketplaces Finland New approved ads* (monthly growth YoY, %) Continued strong growth YoY in monthly visits (million)** * Oikotie only 15 ** Sum of Oikotie and Tori
Slide 16: News Media
News Media RYZE] «= AFYOULADP = Bergens MA Tidende SVENSKA DAGBLADET — Stavanger Aftenblad Aftenpoften 16 ochibste d
Slide 17: Exceptionally strong EBITDA margin due to lower costs; revenue growth driven by digital
Exceptionally strong EBITDA margin due to lower costs; revenue growth driven by digital News Media Revenues (NOKm), EBITDA margin (%) Highlights • Continued strong growth in digital subscription revenues, mainly driven by higher volumes • Advertising revenues improving driven by digital growing YoY
Slide 18: Continued growth in subscription revenues; gradual improvement within digital advertising revenues
Continued growth in subscription revenues; gradual improvement within digital advertising revenues Growth in digital subscription revenues driven Growth within digital advertising as impact by both ARPU and volume from COVID-19 diminishes Subscription revenues (NOKm) Advertising revenues (NOKm)** No
Slide 19: Next: Financial Services & Growth
Next Financial Services & Growth 19
Slide 20: Top-line impacted by COVID-19; strong margins
Top-line impacted by COVID-19; strong margins Lendo Group Revenues (NOKm), EBITDA margin (%) Highlights • Revenue growth still impacted by COVID-19, particularly in Sweden, as banks have continued to be more restrictive in their lending practices • Denmark and Norway performing well despite COVID-19
Slide 21: Strong performance in Distribution and Prisjakt drive revenue growth; EBITDA improving
Strong performance in Distribution and Prisjakt drive revenue growth; EBITDA improving QoQ and YoY Schibsted Growth Revenues (NOKm), EBITDA margin (%) Highlights • Continued strong growth in Distribution and Prisjakt due to increased online shopping trends driven by social distancing under COVID-19
Slide 22: Finance
Finance 22
Slide 23: Very strong quarterly EBITDA, up 25% YoY
Very strong quarterly EBITDA, up 25% YoY Schibsted Group Schibsted Group Revenues, EBITDA (NOKm) EBITDA development YoY per segment (NOKm) * Foreign exchange neutral basis 23 ** EBITDA including IFRS 16 effect estimate
Slide 24: Q3 income statement Schibsted Group
Q3 income statement Schibsted Group Mainly explained by transaction-related cost in connection with the acquisition of Oikotie and the announced acquisition of eBay Denmark Mainly explained by net interest expenses Includes a reassessment of unrecognised deferred tax assets of NOK 38m Profit after t
Slide 25: Q3 EBITDA, operating cash flow and capex
Continuing operations Q3 EBITDA, operating cash flow and capex EBITDA Operating cash flow Capex (NOKm) (NOKm) (NOKm) 25
Slide 26: NIBD/EBITDA increased to around 1.7 following the acquisition of Oikotie
Continuing operations NIBD/EBITDA increased to around 1.7* following the acquisition of Oikotie Debt profile (NOKm) Highlights • New bridge loan facility of EUR 350m in place to finance acquisition of the Danish eBay Classifieds operations • Received consent to temporary waiver of our financial cove
Slide 27: Financial targets and policies
Financial targets and policies Nordic Nordic Marketplaces revenues Marketplaces Targeting annual revenue growth of 8-12% for the segment in the medium- to long-term News News Media EBITDA margin Updated Media EBITDA margin of 8-10% in the medium-term Capital M&A allocation M&A activities targeted pr
Slide 28: Appendices
Appendices Spreadsheet containing detailed Q3 2020 and historical information can be downloaded at schibsted.com/ir 28
Slide 29: Key operations [1/2]
Key operations [1/2] News Media Third quarter Year to date (NOK million) 2020 2019 Change 2020 2019 Change Advertising revenues 496 519 —(4%) 7,550 7,850 (16%) -of viich digital 355 330 8% 1,069 1173 (9%) Subscription revenues 673 648 4% 1,961 1,902 3% -of which digital 285 239 19% 789 662 19% Casua
Slide 30: Key operations [2/2]
Key operations [2/2] Financial Services Growth Third quarter Year to date Third quarter Yearto date (NOK million) 2020 2019 Change 2020 2019 Change (NOK million) 2020 2019 Change 2020 2019 Change (Operating revenues 269 275 5% 34 794 5% Operating revenues 616 517 19% 7801 7.530 18% EBITDA 86 51 68%
Slide 31: Q3 cash flow
Continuing operations Q3 cash flow 31
Slide 32: Q3 cash flow Schibsted Group
Q3 cash flow Schibsted Group 32
Slide 33: Underlying tax rate
Continuing operations Underlying tax rate • The underlying tax rate, for continuing operations, is 23.3% • Taxes were positively affected by NOK 38 million from recognition of deferred tax assets 33
Slide 34: Basic share information
Basic share information A-share B-share Ticker Oslo Stock Exchange SCHA SCHB Reuters SBSTA.OL SBSTB.OL Bloomberg SCHA:NO SCHB:NO Number of shares 108,003,615 130,684,373 Treasury shares (23 October 2020) 3,543,657 1,324,477 Number of shares outstanding 104,459,958 129,359,896 Free float* 70% 76% Sha
Slide 35: Shareholders analysis
Shareholders analysis Rank Name A-shares B-Shares Total % of S/O 1 Blommenholm Industrier AS 28,541,262 30,621,205 59,162,467 25.3% 2 Folketrygdfondet 9,065,282 11,406,925 20,472,207 8.8% 3 Fidelity Management & Research Company LLC 8,699,097 4,271,572 12,970,669 5.5% 4 Baillie Gifford & Co. 6,618,9
Slide 36: Investor contact
Investor contact Visit Schibsted’s website schibsted.com E-mail: 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