Slide 1: Q4 2020 Results
Q4 2020 Results 12 February 2021 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: Highlights Q4 2020
Highlights Q4 2020 Returning to growth with underlying revenues growing 4%* in the quarter Strong quarterly EBITDA of NOK 665m, up 45% YoY, resulting in full-year EBITDA above last year Dividend of NOK 2.00 per share proposed for 2020 3 * Foreign exchange neutral basis and adjusted for acquisition o
Slide 4: Higher EBITDA driven by all business areas, in particular News Media
Higher EBITDA driven by all business areas, in particular News Media Nordic Marketplaces News Media Financial Services Schibsted Growth Continued QoQ recovery Main driver for the Group’s Underlying** revenues in Another strong quarter, with driven by Jobs in Norway YoY EBITDA improvement Lendo decli
Slide 5: 2020 ESG achievements – new highlights
2020 ESG achievements – new highlights Environmental Committed to a climate target in line with the Calculated the carbon footprint of our digital Paris Agreement to lower our emissions with newspapers together with scientist from Bristol at least 50% until 2030. University in a project with BBC, Sk
Slide 6: Nordic Marketplaces
Nordic Marketplaces Bi
Slide 7: Improved revenue trend QoQ driven by Jobs in Norway
Improved revenue trend QoQ driven by Jobs in Norway Nordic Marketplaces Revenues per country Revenues (NOKm), EBITDA margin (%) Revenues (NOKm, share in %) * Foreign exchange neutral basis and adjusted for acquisition of Oikotie (total revenue effect of NOK 62m in Q4 2020) 7 ** EBITDA including IFRS
Slide 8: Job drives revenue improvement QoQ; 46% EBITDA margin in line with last year
Job drives revenue improvement QoQ; 46% EBITDA margin in line with last year Marketplaces Norway Revenues (NOKm), EBITDA margin (%) Highlights • Job improved significantly in the quarter, and ended up growing YoY • Good development in Real estate and Motor, though somewhat negatively affected by les
Slide 9: Listings continued to recover with strong December; still good traffic growth
Listings continued to recover with strong December; still good traffic growth Marketplaces Norway New approved ads (monthly growth YoY, %) Continued good YoY growth in monthly visits (million) 9
Slide 10: Continued good performance within Motor drives revenue growth YoY in Q4
Continued good performance within Motor drives revenue growth YoY in Q4; EBITDA margin up YoY Marketplaces Sweden Revenues (NOKm), EBITDA margin (%) Highlights • Continued growth in Motor revenues driven by increased December volumes as well as higher ARPD from visibility product “Bump” • Jobs and a
Slide 11: Motor listings improved during Q4; continued strong traffic
Motor listings improved during Q4; continued strong traffic Marketplaces Sweden New approved ads (monthly growth YoY, %) Continued good YoY growth in monthly visits (million) 11
Slide 12: Good trend for advertising; increased investments in marketing and product affecting EBITDA
Good trend for advertising; increased investments in marketing and product affecting EBITDA Marketplaces Finland Revenues (NOKm), EBITDA margin (%) Highlights • Oikotie merger progressing as planned • Improved trend in advertising, pro-forma revenues growing underlying 16%* YoY • Job revenues recove
Slide 13: Improvement in Jobs and Real estate listings supported by strong traffic growth
Improvement in Jobs and Real estate listings supported by strong traffic growth Marketplaces Finland New approved ads* (monthly growth YoY, %) Continued strong YoY growth in monthly visits (million)** * Oikotie only 13 ** Sum of Oikotie and Tori
Slide 14: News Media
News Media Ze] | ARRADE? )= [SPA] Aftenposten SVENSKADAGBLADET Stavanger Aftenblad Bergens. #4. Tidende 14
Slide 15: Very strong EBITDA margin due to strong growth in digital revenues, one-offs and cost savings
Very strong EBITDA margin due to strong growth in digital revenues, one-offs and cost savings News Media Revenues (NOKm), EBITDA margin (%) Highlights • Continued strong YoY growth in digital subscription revenues, driven by both volume and ARPU • Significant improvement in digital advertising, grow
Slide 16: Continued strong growth for digital subscription revenues; advertising revenues improving
Continued strong growth for digital subscription revenues; advertising revenues improving Growth in digital subscription revenues driven Strong quarter for digital advertising despite by both ARPU and volume COVID-19 Subscription revenues (NOKm) Advertising revenues (NOKm)** Norway Sweden * Foreign
Slide 17: Next: Financial Services & Growth
Next Financial Services & Growth 17
Slide 18: Robust EBITDA margin despite lower revenues due to COVID-19
Robust EBITDA margin despite lower revenues due to COVID-19 Lendo Group Revenues (NOKm), EBITDA margin (%) Highlights • Profitability improved YoY due to improved cost and marketing efficiency, and lower investments for expansion in new markets • Revenue growth impacted by second wave of COVID-19, p
Slide 19: Strong performance in Distribution and Prisjakt drives revenue growth
Strong performance in Distribution and Prisjakt drives revenue growth; EBITDA improving QoQ Schibsted Growth Revenues (NOKm), EBITDA margin (%) Highlights • Another strong quarter, with significant YoY revenue growth in Distribution and Prisjakt due to increased online shopping trends • Distribution
Slide 20: Finance
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Slide 21: Very strong quarterly EBITDA, up 45% YoY
Very strong quarterly EBITDA, up 45% YoY Schibsted Group Schibsted Group Revenues, EBITDA (NOKm) EBITDA development YoY per segment (NOKm) * Foreign exchange neutral basis and adjusted for acquisition of Oikotie and sale of certain regional and local newspapers 21 ** EBITDA including IFRS 16 effect
Slide 22: Strong 2020 results driven by robust digital business models
Strong 2020 results driven by robust digital business models Schibsted Group Schibsted Group Revenues, EBITDA (NOKm) EBITDA development YoY per segment (NOKm) * Foreign exchange neutral basis and adjusted for acquisition of Oikotie and sale of certain regional and local newspapers 22 ** EBITDA inclu
Slide 23: Q4 income statement Schibsted Group
Q4 income statement Schibsted Group 23
Slide 24: Q4 EBITDA, operating cash flow and capex
Continuing operations Q4 EBITDA, operating cash flow and capex EBITDA Operating cash flow Capex (NOKm) (NOKm) (NOKm) 24
Slide 25: NIBD/EBITDA at 1.4 ahead of closing of Danish eBay Classifieds assets
Continuing operations NIBD/EBITDA at 1.4 ahead of closing of Danish eBay Classifieds assets Well diversified debt maturity profile Targeting financial gearing in the range of 1-3 (NOKm*) (NIBD/EBITDA according to bank definition) * As of 31 December 2020 25 ** According to bank definition
Slide 26: 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 Media EBITDA margin of 8-10% in the medium-term Capital M&A allocation M&A activities targeted primarily
Slide 27: Save the date: Virtual Capital Markets Day 11 March 2021
Save the date: Virtual Capital Markets Day 11 March 2021, 10:00 CET Speakers: Kristin Skogen Lund, CEO Christian Printzell Halvorsen, EVP Nordic Marketplaces Siv Juvik Tveitnes, EVP News Media – Raoul Grünthal, EVP Next Dan Ouchterlony, SVP Financial Services – Ragnar Kårhus, CFO – More information
Slide 28: Q&A
Q&A 12 February 2021 Kristin Skogen Lund, CEO Ragnar Kårhus, CFO
Slide 29: Appendices
Appendices Spreadsheet containing detailed Q4 2020 and historical information can be downloaded at schibsted.com/ir 29
Slide 30: Q4 cash flow
Continuing operations Q4 cash flow 30
Slide 31: Q4 cash flow Schibsted Group
Q4 cash flow Schibsted Group 31
Slide 32: Underlying tax rate
Continuing operations Underlying tax rate • The underlying tax rate, for continuing operations, was 23.4% • Taxes were positively affected by NOK 35m from recognition of deferred tax assets 32
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 9,026,454 11,677,570 20,704,024 8.9% 3 Baillie Gifford & Co. 6,673,899 7,093,448 13,767,347 5.9% 4 Fidelity Management & Research Company LLC 8,705,8
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