Slide 1: Q1 2021 Results
Q1 2021 Results 6 May 2021 Kristin Skogen Lund, CEO Ragnar Kårhus, CFO Q&A Visit: sli.do Event code: 271749
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: Highlights Q1 2021
Highlights Q1 2021 Accelerated underlying* revenue growth +8%* YoY Strong quarterly EBITDA NOK 594m, doubled from 2020 and 42% higher than 2019 Empowering circular and sustainable consumption Users of Schibsted’s Nordic Marketplaces potentially saved 1.6m tonnes CO2e in 2020 3 * Foreign exchange neu
Slide 4: ESG highlights Q1 2021
ESG highlights Q1 2021 Environmental Calculations show that users of Schibsted’s Nordic Marketplaces potentially saved 1.6 million tonnes CO2e (2020) by choosing circular instead of linear consumption Social Started a long-term diversity, inclusion and belonging initiative aiming to create value to
Slide 5: Strong EBITDA driven by all business areas
Strong EBITDA driven by all business areas Nordic Marketplaces News Media Financial Services Schibsted Growth Underlying* revenue growth Continued strong Underlying** revenues in Another strong quarter with of 6% after three quarters of performance from last quarter Lendo declined YoY driven by sign
Slide 6: Nordic Marketplaces
Nordic Marketplaces blocket _ tori
Slide 7: Strong listing trend in Jobs, above Q1 last year and 2019
Nordic Marketplaces Strong listing trend in Jobs, above Q1 last year and 2019 Jobs: New approved ads per quarter, Q1 YoY change (absolute numbers, %) Norway Sweden* Finland** * The calculation method regarding Job listings in Sweden has changed from previous presentations. The new calculation only c
Slide 8: Revenues returned to growth, driven by Jobs in Norway
Nordic Marketplaces Revenues returned to growth, driven by Jobs in Norway Nordic Marketplaces Revenue split Nordic Marketplaces Revenues (NOKm), EBITDA margin (%) Revenues Q1 2021 (NOKm, share in %) 8 * Foreign exchange neutral basis and including pro-forma Oikotie revenues in Q1 2020 (revenue effec
Slide 9: Accelerated revenue growth driven by Jobs; strong EBITDA margin
Marketplaces Norway Accelerated revenue growth driven by Jobs; strong EBITDA margin Marketplaces Norway Revenues (NOKm), EBITDA margin (%) Highlights • Jobs with strong revenue YoY growth of 34% driven by both volume and ARPA • Motor and Real estate affected by lower inventory levels and high demand
Slide 10: Revenue growth driven by recovery in Jobs and advertising; stable margin YoY
Marketplaces Sweden Revenue growth driven by recovery in Jobs and advertising; stable margin YoY Marketplaces Sweden Revenues (SEKm), EBITDA margin (%) Highlights • Motor revenues decreased slightly YoY driven by lower inventory levels and high demand, resulting in less need for upsell products • Jo
Slide 11: Good trend in classifieds with underlying revenue growth; investments affecting EBITDA
Marketplaces Finland Good trend in classifieds with underlying* revenue growth; investments affecting EBITDA Marketplaces Finland Revenues (EURm), EBITDA margin (%) Highlights • Oikotie merger successfully completed • Reported revenues increased by EUR 6.9m YoY driven by Oikotie acquisition • Adjust
Slide 12: Transformation to Next Gen marketplace for cars continues
Marketplaces Norway Transformation to Next Gen marketplace for cars continues Offering a full end-to-end transactional journey for private cars in Norway 1. Find the 3. Digital 5. Safe 7. Electronic toll right price contract payment payment tag 2. Post the ad 4. Insurance 6. Digital ownership 8. “My
Slide 13: News Media
News Media | Aftenpoften SVENSKADAGBLADET Stavanger Aftenblad Bergens. #4. Tidende a @ 13 Schibsted
Slide 14: Strong growth in digital revenues and cost savings ensured strong EBITDA margin
News Media Strong growth in digital revenues and cost savings ensured strong EBITDA margin News Media Revenues (NOKm), EBITDA margin (%) Highlights • Underlying* revenue growth third quarter in a row • Growth in digital revenues outweighs loss in print revenues • Cost reduction program progressing w
Slide 15: Double-digit revenue growth in digital
News Media Double-digit revenue growth in digital Growth in digital subscription revenues Strong YoY growth in digital advertising, on driven by both ARPU and volume par with 2019 level Subscription revenues (NOKm) Advertising revenues (NOKm)** Norway Sweden * Foreign exchange neutral basis 15 ** No
Slide 16: Next: Financial Services & Growth
Next Financial Services & Growth 16
Slide 17: Robust EBITDA margin despite negative revenue growth from COVID-19
Financial Services Robust EBITDA margin despite negative revenue growth from COVID-19 Lendo Group Revenues (NOKm), EBITDA margin (%) Highlights • Underlying* revenue decline driven by negative COVID-19 effects in Sweden • Profitability improved YoY due to lower geographical expansion investments and
Slide 18: Continued strong revenue growth in Distribution and Prisjakt; significant EBITDA improvement YoY
Schibsted Growth Continued strong revenue growth in Distribution and Prisjakt; significant EBITDA improvement YoY Schibsted Growth Revenues (NOKm), EBITDA margin (%) Highlights • Significant revenue growth driven by online shopping trends • Distribution up 48% YoY due to New Business (+137%), with c
Slide 19: Finance
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Slide 20: Strong start to 2021 with Q1 results ahead of last year and 2019
Strong start to 2021 with Q1 results ahead of last year and 2019 Schibsted Group Schibsted Group Revenues, EBITDA (NOKm) EBITDA development YoY per segment (NOKm) 20 * Foreign exchange neutral basis and including pro-forma Oikotie revenues in Q1 2020 (revenue effect of NOK 75m in Q1 2020)
Slide 21: Q1 income statement Schibsted Group
Q1 income statement Schibsted Group Income statement First quarter (NOK million) 2020 2021 Operating revenues 3,026 3,401 Operating expenses (2,742) (2,806) Gross operating profit (loss) - EBITDA 285 594 Depreciation and amortisation (193) (220) Share of profit (loss) of joint ventures and associate
Slide 22: Q1 EBITDA, operating cash flow and capex
Continuing operations Q1 EBITDA, operating cash flow and capex EBITDA Operating cash flow Capex (NOKm) (NOKm) (NOKm) 22
Slide 23: Financial gearing well within target range
Continuing operations Financial gearing well within target range Debt maturity profile* Targeting financial gearing in the range of 1-3 (NOKm) (NIBD/EBITDA according to bank definition) * As of 31 March 2021 23 ** According to bank definition
Slide 24: 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 Medium-term targets for the segment Annual revenue growth: low single-digit Updated Media EBITDA margin: 10-12% Capital M&A alloca
Slide 25: Q&A
Q&A 6 May 2021 Kristin Skogen Lund, CEO Ragnar Kårhus, CFO
Slide 26: Appendices
Appendices Spreadsheet containing detailed Q1 2021 and historical information can be downloaded at schibsted.com/ir 26
Slide 27: Listing trends per main vertical
Nordic Marketplaces Listing trends per main vertical New approved ads (monthly growth YoY, %) Country Vertical Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Norway Jobs -8% -4% -31% -45% -38% -17% -22% -23% -9% -12% 0% 5% -8% 6% 79% Motor 4%
Slide 28: Moving some Growth companies to News Media
Reporting changes and restatements Moving some Growth companies* to News Media Full-year 2020 (NOKm) 28 * Companies moved from Schibsted Growth to News Media: TV.nu, Klart.se, Omni and Vinguiden
Slide 29: Reclassification between Other and Classifieds revenues
Reporting changes and restatements Reclassification between Other and Classifieds revenues Full-year 2020 (NOKm) * Whereof Nettbil NOK 67m and Eiendomsprofil NOK 30m 29 ** Qasa and Bily
Slide 30: Q1 cash flow
Continuing operations Q1 cash flow Cash flow First quarter (NOK million) 2020 2021 Profit (loss) before taxes from continuing operations 77 294 Depreciation, amortisation and impairment losses 193 226 Net effect pension liabilities (49) (60) Share of loss (profit) of joint ventures and associates, n
Slide 31: Q1 cash flow Schibsted Group
Q1 cash flow Schibsted Group Cash flow First quarter (NOK million) 2020 2021 Profit (loss) before taxes from continuing operations 77 294 Profit (loss) before taxes from discontinued operations (308) (335) Depreciation, amortisation and impairment losses 335 226 Net effect pension liabilities (46) (
Slide 32: Income taxes
Continuing operations Income taxes The relationship between tax expense and accounting profit (loss) before taxes is as follows: Income tax First quarter (NOK million) 2021 Profit (loss) before taxes 294 Tax expense based on weighted average tax rates* (64) Tax effect of other permanent differences
Slide 33: Shareholders analysis
Shareholders analysis Rank Name A-shares B-Shares Total % of S/O 1 Blommenholm Industrier AS 28,541,262 30,013,354 58,554,616 25.0% 2 Folketrygdfondet 8,951,454 10,778,564 19,730,018 8.4% 3 Baillie Gifford & Co. 6,901,198 7,677,911 14,579,109 6.2% 4 Fidelity Management & Research Company LLC 9,341,6
Slide 34: 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