Vend Marketplaces Asa · OSL:VEND
Vend Marketplaces Asa — Schibsted — Investor Day (March 2023)
157 slides from Vend Marketplaces Asa's investor day presentation, Mar 28, 2023
Slide 1: Capital Markets Day
Capital Markets Day 28 March 2023 Q&A link: sli.do Event code: 1109824 1
Slide 2: Disclaimer
Capital Markets Day 2023 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 i
Slide 3: Agenda
Capital Markets Day 2023 Agenda 10:00 Schibsted Introduction 11:50 Break 13:20 Investment Strategy Kristin Skogen Lund Andrew Kvålseth 10:20 Nordic Marketplaces Introduction 12:25 Recommerce 13:40 Finance Christian Printzell Halvorsen Cathrine Laksfoss Ragnar Kårhus 10:45 Mobility 12:45 Summary 14:0
Slide 4: Today's speakers
Capital Markets Day 2023 Today’s speakers Kristin Skogen Lund Christian Printzell Halvorsen Andrew Kvålseth Ragnar Kårhus CEO EVP Nordic Marketplaces CIO and EVP Growth & EVP CFO and Delivery Investments Robin Suwe Eddie Sjølie Cathrine Laksfoss Kjersti Høklingen SVP Mobility SVP Jobs SVP Recommerce
Slide 5: Kristin Skogen Lund
Kristin Skogen Lund CEO Schibsted
Slide 6: Schibsted Introduction
Schibsted Introduction 6
Slide 7: 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 8: 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 9: Important changes made to strengthen positions and profitability
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 10: Our purpose remains the same and is increasingly important
Schibsted Introduction Our purpose remains the same and is increasingly important With a Vision to And a Mission to Driven by our Overarching Goals Guided by our Character to build a society based on empower people in their to deliver value to customers, be a fearless force for trust and transparenc
Slide 11: Value creation 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 12: Grow, transform and expand our marketplace positions
Schibsted Introduction 1 Grow, transform and expand our marketplace positions Continued strong growth of our Example proof point Real Estate Vertical classified revenues existing business NOKm CAGR Successful transition towards 14%1 transactional models New vertical-focused operating model Clear opp
Slide 13: Grow, transform and expand our marketplace positions
Schibsted Introduction 1 Grow, transform and expand our marketplace positions Continued strong growth of our Example proof point Norway Mobility Vertical classified revenues existing business NOKm CAGR ‘20-’22 Successful transition towards transactional models 70% Transactional1 New vertical-focused
Slide 14: Grow, transform and expand our marketplace positions
Schibsted Introduction 1 Grow, transform and expand our marketplace positions Continued strong growth of our existing business Successful transition towards transactional models New vertical-focused operating model Clear opportunities to expand successful new concepts 14
Slide 15: Grow, transform and expand our marketplace positions
Schibsted Introduction 1 Grow, transform and expand our marketplace positions Continued strong growth of our Example proof point Revenue development Qasa (Sweden) and Nettbil (Norway) existing business NOKm Successful transition towards transactional models New vertical-focused operating model Clear
Slide 16: Develop digital and financially robust media positions
Schibsted Introduction 2 Develop digital and financially robust media positions Strong growth potential for Example proof point News Media’s digital subscription revenues and digital subscribers subscription revenues Continue to leverage our leading Nordic advertising position 28% Actively develop o
Slide 17: Develop digital and financially robust media positions
Schibsted Introduction 2 Develop digital and financially robust media positions Example proof point Strong growth potential for News Media’s total advertising revenues subscription revenues NOKm CAGR ‘20-’22 Continue to leverage our leading Nordic advertising position -4% Print Actively develop our
Slide 18: Develop digital and financially robust media positions
Schibsted Introduction 2 Develop digital and financially robust media positions Example proof point Strong growth potential for News Media’s total revenues excl. ‘Other revenue’1 subscription revenues NOKm 4% CAGR ‘20-’22 Continue to leverage our leading Nordic advertising position -7% Actively deve
Slide 19: Develop digital and financially robust media positions
Schibsted Introduction 2 Develop digital and financially robust media positions Example proof point Strong growth potential for Podme subscriber base subscription revenues Number of paying subscribers >3x Continue to leverage our leading Bundles Nordic advertising position Over 3x subscribers since
Slide 20: Invest in close-to-core businesses that benefit from Schibsted's strengths
Schibsted Introduction 3 Invest in close-to-core businesses that benefit from Schibsted’s strengths Investment closer to core More active ownership, value creation and synergies realisation Realise and crystalise value from non-core holdings Disciplined capital allocation 20
Slide 21: Provide attractive consumer experiences across portfolio
Schibsted Introduction Provide attractive consumer experiences across 4 Schibsted’s portfolio of products, services & touch points Moving towards a consumer-centric approach – example Norway Current Future Brand centric consumer base One common consumer base Consumer Consumer ? 21
Slide 22: Summary: Four levers for Schibsted to create value
Schibsted Introduction Summary: Four levers for Schibsted to create value Purpose Joint customer propositions 1 3 2 4 Investments Growth & Nordic News Marketplaces Media Foundation Adevinta 22
Slide 23: Christian Printzell Halvorsen
Christian Printzell Halvorsen EVP Nordic Marketplaces and Delivery 23
Slide 24: Nordic Marketplaces
Nordic Marketplaces 24
Slide 25: A true marketplaces powerhouse with leading positions across the Nordics
Nordic Marketplaces We are a true marketplaces powerhouse with leading positions across the Nordics Brand Monthly visits Mobility Jobs Real Estate Recommerce awareness per capita 90%1 24.6 (Rental only) 82% 8.3 51%2 4.3 N/A N/A N/A 77%2 1.3 82%2 6.4 N/A (tied at #13) N/A 56%1 2.6 Several strong nich
Slide 26: Our portfolio of marketplace businesses enables balanced value creation
Nordic Marketplaces Our portfolio of marketplace businesses enables balanced value creation We focus on marketplace Portfolio of attractive marketplace businesses with strong businesses balancing profitability, #1 positions growth and cyclical resilience Value creation through Being part of Schibste
Slide 27: We have delivered on the value creation levers from Q1 2021 CMD
Nordic Marketplaces We have delivered on the value creation levers from Q1 2021 CMD Expand & Leverage Transform Consolidate current positions to Next Gen ● Acquisition and successful ● Continued strong growth in ● Nettbil grew by 52% YoY to integration of Oikotie and eBay the core NOK 194m in 2022 D
Slide 28: Revenue growth well above medium-term guidance from 2021 CMD
Nordic Marketplaces We have delivered revenue growth well above our medium-term guidance from Q1 2021 CMD Nordic Marketplaces Revenue Revenue split Nordic Marketplaces Revenues (NOKm), EBITDA margin (%) guidance Revenues 2022, share in % +8-12% 14% CAGR1 28 1. Foreign exchange neutral basis and incl
Slide 29: Doing well by doing good
Nordic Marketplaces Doing well by doing good Our Mission Our Goal Empowering people to make We will make smart choices for themselves the sustainable alternative and future generations the obvious choice 29
Slide 30: Wider customer needs drive vertical specialisation
Nordic Marketplaces Opportunity to fulfill wider customer needs drives vertical specialisation 2000 2005 2010 2015 2020 30
Slide 31: Over 10 times larger addressable market with new business models
Nordic Marketplaces Over 10 times larger addressable market with new business models New business models NOK ~40bn Schibsted Higher take-rate classified Transactional and performance-based revenue models unlock potential NOK ~4bn Larger market Tapping into large and growing markets in medium- to lon
Slide 32: We are building vertical champions to ride the next wave of growth
Nordic Marketplaces We are building vertical champions to ride the next wave of growth 32
Slide 33: Moved from country-based to vertical-focused operating model
Nordic Marketplaces We have moved from a country-based to a vertical-focused operating model Mobility Jobs Real Estate Recommerce Accelerator 33
Slide 34: Similar user and customer experience across brands
Nordic Marketplaces Similar user and customer experience across brands 34
Slide 35: Our new operating model will unlock significant user and customer value
Nordic Marketplaces Our new operating model will unlock significant user and customer value Deeper vertical expertise Improved user and customer value Increased Better economies innovation of scale speed 35
Slide 36: Medium-term financial ambitions per vertical
Nordic Marketplaces Going forward, we will guide on medium-term financial ambitions per vertical Revenue growth EBITDA margin Key financial drivers Price and packaging in core model, scaling C2B with Mobility 12-17% 51-56% Nettbil and AutoVex and transforming car listings to a transactional model Va
Slide 37: We are building vertical champions to ride the next wave of growth
Nordic Marketplaces | Key Takeaways We are building vertical champions to ride the next wave of growth We are a true marketplaces We are perfectly positioned to powerhouse with leading positions capitalise on the key trends of across the Nordics with proven track digitalisation, sustainability and t
Slide 38: Robin Suwe
38 Robin Suwe SVP Mobility Schibsted
Slide 39: Mobility vertical deep-dive
Nordic Marketplaces Mobility vertical deep-dive 39
Slide 40: Attractive markets with high digital maturity and EV penetration
Nordic Marketplaces | Mobility We operate in attractive markets with high digital maturity and EV penetration 5.5m 600k 5.6m 560k population used car sales population used car sales Nordics #10 79% #7 18% Digital savviness2 EV sales1 Digital savviness2 EV sales1 27m population 3.3m used car sales 40
Slide 41: Favourable positions across the Nordics
Nordic Marketplaces | Mobility Favourable positions across the Nordics with household brands, superior reach and inventory leadership Norway Finland 28m 7m monthly visits monthly visits 100% 65% of dealers of dealers Denmark Sweden 9m 48m monthly visits monthly visits 95% 100% of dealers of dealers
Slide 42: Nordic maturity of key industry trends opens opportunities
Nordic Marketplaces | Mobility Nordic maturity of key industry trends opens up several attractive opportunities for Schibsted Nordic perspective on industry trends Selected opportunities for Schibsted Strong EV penetration with 79% of new car sales electric in Norway Consumers seek trust and OEMs1 p
Slide 43: Mobility strategy
Nordic Marketplaces | Mobility Mobility strategy 43
Slide 44: Balanced growth strategy with three value creation levers
Nordic Marketplaces | Mobility We have a balanced growth strategy and are executing along three value creation levers “Empower people Vision to make smart mobility choices for themselves and future generations” Transform to next Expand into new generation positions Move to transactional Explore new
Slide 45: Opportunity to grow revenues in NOK ~16bn addressable market
Nordic Marketplaces | Mobility There is significant opportunity to grow our revenues, taking a larger share of the NOK ~16bn Nordic addressable market Large headroom in the C2X journey (~20x), Large headroom in the B2C journey (~8x), helping consumers to sell their cars helping consumers to access a
Slide 46: Leverage current positions: Classified business
Nordic Marketplaces | Mobility Leverage current positions Classified business 46
Slide 47: Core classified revenues have grown steadily
Nordic Marketplaces | Mobility | Leverage current positions In the past 3 years our core classified revenues have grown steadily Classified revenues 2020-2022 and 2022 split by country 1% NOKm CAGR 9%1 Norway Sweden Denmark Finland 47 1. Foreign exchange neutral basis and including pro-forma Denmark
Slide 48: Grown ARPA while listing volumes were volatile
Nordic Marketplaces | Mobility | Leverage current positions We have actively grown ARPA while listing volumes have been subject to market volatility NAAs 2020-2022 Thousands ARPA 2020-20221 Local currency 1.4%* 4% 2% ● Robust growth in ARPA despite lower overall volumes -6% 11% ● Pricing and packagi
Slide 49: Growth potential in core through pricing and value-adding services
Nordic Marketplaces | Mobility | Leverage current positions Significant growth potential in core through pricing and value-adding services Room for improvement ARPL1 comparison to selected peers EUR 95 ● Harmonise and transform pricing model EUR 80 ● Scale successful products in our portfolio >2x ●
Slide 50: Transform to next gen C2C digital car buying
Nordic Marketplaces | Mobility Transform to next gen C2C digital car buying 50
Slide 51: C2C position is a strategic position and attractive opportunity
Nordic Marketplaces | Mobility | Transform to next generation The C2C position is both a strategic position and an attractive opportunity with NOK ~2bn addressable market Strong C2C Unique content Key enabler A strategic position with with high traffic to build new position ~1m yearly paid and engag
Slide 52: End-to-end C2C transaction journey and monetisation in 2023
Nordic Marketplaces | Mobility | Transform to next generation We have built an end-to-end C2C transaction journey and are expanding into monetisation in 2023 First results Norway ● More than 17,000 transactions in 2022 (average GMV1: NOK ~80k) ● In 2023, launched ~1% transaction fee in addition to l
Slide 53: Transform to next gen C2B auction
Nordic Marketplaces | Mobility Transform to next gen C2B auction 53
Slide 54: We expect C2B growth to continue
Nordic Marketplaces | Mobility | Transform to next generation We expect C2B growth to continue and have invested in two synergistic Nordic winners Underlying industry trends We have acquired two synergistic Nordic winners, supporting dealers in finding the right inventory hassle-free Consumers want
Slide 55: Nettbil and AutoVex: a step towards winning C2B
Nordic Marketplaces | Mobility | Transform to next generation With Nettbil and AutoVex we have taken a clear step towards winning C2B in the Nordics AutoVex Nettbil Nettbil and AutoVex, historical performance 560k total NO & FI market (100%) 26k NB & 1% take rate1 AV share (~5%) 10% take rate GMV (N
Slide 56: Transform to next gen B2C digital retailing
Nordic Marketplaces | Mobility Transform to next gen B2C digital retailing 56
Slide 57: Digital retailing and asset-light approach
Nordic Marketplaces | Mobility | Transform to next generation Digital retailing provides significant potential and we are expanding our offering with an asset-light approach The future of car buying will be omnichannel and We are responding to the change and expanding our marketplaces can play a cen
Slide 58: Expand into new positions: Car subscription
Nordic Marketplaces | Mobility Expand into new positions Car subscription 58
Slide 59: We built Honk to explore new cars and ownership forms
Nordic Marketplaces | Mobility | Expand into new positions We built Honk to explore new cars, test new ownership forms and build long-lasting relationships with new partners Why is this an attractive opportunity? We built the first transactional subscription marketplace in a growing Nordic market In
Slide 60: Financial outlook and summary
Nordic Marketplaces | Mobility Financial outlook and summary 60
Slide 61: Targets 12-17% revenue growth and 51-56% EBITDA margins
Nordic Marketplaces | Mobility | Summary Our balanced growth strategy targets revenue growth of 12-17% and 51-56% EBITDA margins in the medium-term Revenue development (illustrative) Transactional Key drivers for success Classified Utilise price and packaging headroom Advertising Other Scale C2B wit
Slide 62: Well positioned for the next wave of growth
Nordic Marketplaces | Mobility | Summary We are well positioned for the next wave of growth Clear #1 positions in attractive Solid headroom for growth in our markets with high digital maturity and core classified positions across leading EV penetration the Nordics Transactional models in C2C / Explo
Slide 63: Eddie Sjølie
x) Eddie Sjolie SVP Jobs Schibsted
Slide 64: Jobs vertical deep-dive
Nordic Marketplaces Jobs vertical deep-dive 64
Slide 65: A strong starting point for future growth
Nordic Marketplaces | Jobs A strong starting point for future growth Strong brands Reaching the Nordic Candidates NAA Growing revenue Brand Awareness Avg. monthly visits 2022 Ads published in 2022 CAGR 2015-20223 80%1 8.9m 196,083 20% 53%2 1.3m 110,958 18% 56%2 1.7m 176,530 10% 65 1.2. Aided Top of
Slide 66: Continuous growth over several years
Nordic Marketplaces | Jobs Continuous growth over several years Classifieds revenue growth vs. GDP development Revenue split by country 2022 Revenue NOKm Jobs classified revenue CAGR 19%1 between 2015-2022 GDP growth for Norway, Sweden and Finland CAGR 4% between 2015-2021 Norway Sweden Finland 66 1
Slide 67: ARPA growth driven by Norway and Sweden
Nordic Marketplaces | Jobs ARPA growth driven by Norway and Sweden ARPA development (NOK) ARPA development (NOK) ARPA development (NOK) CAGR 10% ● Pricing and packaging important ARPA growth drivers CAGR 9% CAGR ● Improved webstore in Norway -18% increasing growth in SMB ● ARPA decline in Finland du
Slide 68: Tapping the passive candidate market with new products
Nordic Marketplaces | Jobs We have been able to tap into the passive candidate market with new products FINN revenue from audience extension products NOKm 12% CAGR in revenue1 in Sweden 2018-2022 CAGR 58% 22% CAGR in revenue1 in Finland 2018-2022 68 1. Audience extension product revenue
Slide 69: Future trend analysis shows a dynamic market
Nordic Marketplaces | Jobs Future trend analysis shows a dynamic market with several opportunities Growing trend of Increased demand of Growing focus on Similar customer Data and AI Trends… passive candidates data and value Diversity, Inclusion and user needs unlocking new from customers and Belongi
Slide 70: Opportunity to take a larger share of the Nordic market
Nordic Marketplaces | Jobs There is a strong opportunity to grow our revenues, taking a larger share of the Nordic market Product innovation & New business models NOK ~7-10bn Unlocking potential from ● Attracting new customers ● Larger share of customers’ recruitments ● Product innovation 5-7x ● Val
Slide 71: Three value creation levers for balanced growth
Nordic Marketplaces | Jobs Three value creation levers to drive a balanced growth strategy Vision “Creating equal job opportunities for everyone” Leverage current positions Transform to next gen “Drive growth through “Deliver more job opportunities value-based pricing” to candidates and provide the
Slide 72: Unleash growth by aligning price to value
Nordic Marketplaces | Jobs | Leverage current positions We can unleash a lot of growth potential by aligning price to value High Value-based Increased Value-based business Price per ad monetisation models are a great opportunity to provide more value for existing Current customers and tap into non-c
Slide 73: Value-based pricing in Norway shows promising signs
Nordic Marketplaces | Jobs | Leverage current positions Introducing value-based pricing for a small part of our ad volume in Norway has shown promising signs First results Value-based pricing Future based on type of recruitment potential + 28%1 Ad volume (paid) 73 1. Upsell revenue per ad 2023 vs. 2
Slide 74: Passive candidate market with significant growth potential
Nordic Marketplaces | Jobs | Transform to next gen The passive candidate market with significant growth potential ahead Successful start to monetising passive candidates… …with an even bigger growth potential FINN audience extension products revenue ● Enlarge customer base by scaling into the new cu
Slide 75: Winning the candidates by offering more job opportunities
Nordic Marketplaces | Jobs | Transform to next gen Winning the candidates by offering more job opportunities 75
Slide 76: More job opportunities through sourced ads
Nordic Marketplaces | Jobs | Transform to next gen We have successfully provided more job opportunities to candidates through sourced ads, while controlling the effect Providing more job opportunities Managing the effect (number of jobs in selected categories1) (number of apply clicks per ad) We are
Slide 77: Tools to manage the effect of ads on site
Nordic Marketplaces | Jobs | Transform to next gen We have the tools to manage the effect of the ads on site Paid ad Sourced ad Push notifications ✔ 𑁋 Email alerts ✔ 𑁋 Recommendations ✔ 𑁋 Logo ✔ 𑁋 Images ✔ 𑁋 Search Top of the list Bottom of the list Size in results list Large Small Employer…
Slide 78: Technology, data and processes delivering more value
Nordic Marketplaces | Jobs | Transform to next gen Through a unique combination of technology, data and processes we are delivering more value We have unique matchmaking capabilities.. …delivering outcomes in the marketplace Recommendation ecosystem Significant outcomes delivered Recommendation engi
Slide 79: Medium-term growth targets with higher potential over time
Nordic Marketplaces | Jobs We target growth in the medium-term, with substantially higher growth potential over time Medium-term Medium-term Low to mid single- EBITDA margin digit revenue Above 50% growth % Macroeconomic uncertainty in the short-term Main drivers Value-based business models as enabl
Slide 80: Recruitment market represents growth potential
Nordic Marketplaces | Jobs The recruitment market represents a growth potential – and we are well positioned to take advantage of it Jobs vertical has performed well The Nordic recruitment market is over the years and provided growing and offering interesting significant value to Nordic opportunitie
Slide 81: Kjersti Høklingen
Kjersti Høklingen SVP Real Estate 81
Slide 82: Real Estate vertical deep-dive
Nordic Marketplaces Real Estate vertical deep-dive 82
Slide 83: Strong brands and reach across the Nordics
Nordic Marketplaces | Real Estate Strong brands and reach across the Nordics with different positions in each country Core classified position Monthly visits Residential for sale Residential for rent Schibsted listings per segment (% share of market listings) (% share of market listings) (% share of
Slide 84: 14% CAGR delivered over three years
Nordic Marketplaces | Real Estate A 14% CAGR delivered over the past three years with Norway as a key driver Classifieds revenues 2020-2022 Classifieds revenue split per country NOKm Revenues 2022, % Norway CAGR 14%1 Finland Sweden 84 1. Foreign exchange neutral basis and including pro-forma Oikotie
Slide 85: FINN Real Estate is the leading property portal
Nordic Marketplaces | Real Estate In Norway, FINN Real Estate is the leading property portal with superior user engagement Norway’s #1 place to find and advertise property 96% 40 min Top of mind Time that each Norwegian spends monthly 65% Logged in users Print screen FINN 2.1m 260k Saved searches li
Slide 86: Growth driven by value-added products
Nordic Marketplaces | Real Estate Our growth in Norway is driven by the ability to provide value added products over time Highlighted are some examples of value increasing products (indicative timing) S/M/L New value-added product packages Prime New Construction offering 5,000 Audience extension pro
Slide 87: Stronger market position in Finland since Oikotie
Nordic Marketplaces | Real Estate In Finland, we have strengthened our market position since the acquisition and integration of Oikotie Leadership in key metrics compared to closest competitor and increase since acquisition 2020 (%) Traffic1 Content2 Top of Mind (Oikotie and Tori)3 1.06x 1.05x 1.25x
Slide 88: Transactional rental offering with Qasa in Sweden
Nordic Marketplaces | Real Estate In Sweden we have successfully transitioned into a transactional rental offering with the acquisition of Qasa Mirroring SWOT drove partnership Superior value creation with a full service offering Key results 2022 Tenant Listings Inventory & Significant Limited Reach
Slide 89: Strong ARPA development in Norway
Nordic Marketplaces | Real Estate Strong ARPA development, significant growth in revenue per residential for sale listing in Norway NAA1s 2020-2022 ARPA2 2020-2022 ARPA residential for sale Key growth drivers Thousand Local currencies Full year 2020-2022 (NOK) -4% 19% 48% FINN ● Strong demand in new
Slide 90: Nordic Real Estate market is stable and counter-cyclical
Nordic Marketplaces | Real Estate | Macro and key trends The Nordic Real Estate market is stable with strong elements of counter-cyclical development Sold properties and published listings in Norway over time Similar long term trend in all Nordic countries Number of published listings tends to follo
Slide 91: Industry trends provide opportunities
Nordic Marketplaces | Real Estate | Macro and key trends Industry trends provide opportunities to amplify product value for agents and expand transactional rentals Nordic perspective on industry trends Prioritised opportunities for Schibsted The Real Estate market is transforming: increasing custome
Slide 92: Three value creation levers to drive growth
Nordic Marketplaces | Real Estate | Value creation levers Three value creation levers to drive growth across the Nordics “ Vision Empowering people in their journey to find a home at every stage of life Grow the position Become the clear market in Norway leader in Finland Leverage current position E
Slide 93: Monetisation runway in core classifieds and transactional rentals
Nordic Marketplaces | Real Estate | Addressable market Compelling opportunity to capture large monetisation runway in core classifieds and transactional rentals Large headroom to grow the core across our core New transactional model expands the classified markets addressable market2 within rentals s
Slide 94: Growth potential in Norway
Nordic Marketplaces | Real Estate | Leverage current position Large growth potential in Norway by increasing consumer and agent value Favorable market dynamics to operate in Headroom to increase marketing spend High potential in extended offerings Key performance indicators benchmark comparison Aver
Slide 95: Continue to expand in Finland
Nordic Marketplaces | Real Estate | Expand & Consolidate We will continue to expand in Finland and leverage cross-Nordic capabilities Significant headroom for future growth by Clear strategy for strengthened Leveraging cross-Nordic capabilities taking market leader position flywheel effects Average
Slide 96: Combining rental positions with a transactional offering
Nordic Marketplaces | Real Estate | Transform to Next Gen Combining our strong rental positions with a transactional rental offering will unleash new potential #1 rental positions Tenant in all our markets Listings Vetting Contracts ~500k rental listings 1 <0.5% Take rate Payment guarantees 5% Take
Slide 97: Medium-term target of 12-17% revenue growth
Nordic Marketplaces | Real Estate With our value creation levers we target in medium-term1 revenue growth of 12-17% and 42-47% EBITDA Revenue development (illustrative) Transactional Key drivers for success Classified ● Utilise headroom for growth within core classifieds Advertising Other ● Strength
Slide 98: Great potential in driving future growth
Nordic Marketplaces | Real Estate Great potential in driving future growth within Real Estate Attractive market dynamics with FINN real estate has a solid track cyclical resilience record of growth and headroom for continuous value creation in core classified offerings Significant financial opportun
Slide 99: Cathrine Laksfoss
Cathrine Laksfoss SVP Recommerce and Delivery 99
Slide 100: Recommerce vertical deep-dive
Nordic Marketplaces Recommerce vertical deep-dive 100
Slide 101: Generalist positions are key to Schibsted's playbook
Nordic Marketplaces | Recommerce | FINN, Blocket, DBA, Tori The “generalist” positions have always been a key part of Schibsted’s playbook to win across verticals 89% Recommerce 73% top of mind top of mind 40m #1 position in all countries 18m Monthly visits Monthly visits Strong brands associated wi
Slide 102: Turning strong positions into a profitable business
Nordic Marketplaces | Recommerce | FINN, Blocket, DBA, Tori We now have a unique opportunity to turn these strong positions into a profitable business in its own right A large unmonetised GMV with classifieds model Monetisation headroom with transactional model 40 66 20-25 million NOKbn NOKbn NAAs G
Slide 103: Transactional model unlocks new volumes and monetisation
Nordic Marketplaces | Recommerce The transactional model unlocks new volumes and enables significantly increased monetisation Other new models (B2C) High touch / Managed models (C2B2C1) Transactional 50-100x Model Potential with (C2C and B2C) transactional model Monetisation (Take rate on GMV) Class
Slide 104: Roll-out of the transactional service in FINN
Nordic Marketplaces | Recommerce | FINN We are well underway with the successful roll-out of the transactional service in FINN “Fiks ferdig” is making buying and selling used goods on FINN as easy and safe as ecommerce Make offer Choose service: Pay Get it delivered Shipping Escrow (via mobile Door
Slide 105: Growth of the transactional service in FINN
Nordic Marketplaces | Recommerce | FINN The growth of the transactional service in FINN proves our ability to convert consumer demand to transactions Growth playbook Weekly transactions on platform Results 70% ofheard Norwegians have of Fiks ferdig 2 Marketing 750K Transactions1 in 2022 transactions
Slide 106: Headroom for growth and a new revenue stream
Nordic Marketplaces | Recommerce | FINN There is significant headroom to unlock further growth and a new revenue stream with the transactional model GMV GMV Gross Gross Listed Sold on platform Revenue Profit Main drivers of C2C Private New Fiks ferdig conversion Average Take rate Cost of Goods Sold
Slide 107: Roll out transactional model in all Nordic markets by 2025
Nordic Marketplaces | Recommerce | FINN, Blocket, DBA, Tori We will roll out the transactional model in all of our Nordic markets by 2025 Illustration of as-is maturity stage per market Low Medium High Availability of transactional enablers in country1 Indication of consumer demand for transactional
Slide 108: EBITDA break-even during 2025 target
Nordic Marketplaces | Recommerce | FINN, Blocket, DBA, Tori We target EBITDA break-even during 2025, with significant further potential for profitable growth Revenue development (illustrative) Medium-term ambitions: Triple revenues from 2022 to 2025, EBITDA break-even during 2025 Transactional: Grow
Slide 109: Developing Recommerce into a growing and profitable business
Nordic Marketplaces | Recommerce | Summary We will develop Recommerce into a growing and profitable business in its own right The recommerce space will grow The new transactional business fast and we are on a good track to model opens up a new revenue capture this growth in the Nordics stream, with
Slide 110: Summary: Nordic Marketplaces
Summary Nordic Marketplaces 110
Slide 111: Verticals have different focus on value creation levers
Nordic Marketplaces Our verticals have different focus on the value creation levers Mobility Jobs Real Estate Recommerce Expand and consolidate (Lower priority) Leverage current positions Transform to Next Gen (Transactional rentals) 111
Slide 112: Early signs of continued value creation
Nordic Marketplaces We already have many early signs of succeeding with continued value creation ✔ ✔ ✔ We have moved from a With Nettbil and AutoVex We are well underway country-based model to a we have taken a clear with the successful vertical-focused operating step towards winning roll-out of the
Slide 113: An experienced team in place to drive value creation
Nordic Marketplaces An experienced team in place to drive value creation Christian Printzell Robin Suwe Kjersti Høklingen Eddie Sjølie Cathrine Laksfoss Laila Dahlen Halvorsen Mobility Real Estate Jobs Recommerce Nordic Accelerator Nordic Marketplaces and Delivery and Delivery Stine Halla Antti Hovi
Slide 114: Investment proposition
Nordic Marketplaces | Summary Investment proposition Exceptional long-term track record Highly profitable, asset light of value creation in marketplaces businesses with large competitive (over EUR 10bn value created, moats and attractive proprietary including Adevinta) investment opportunities Leadi
Slide 115: Q&A
Nordic Marketplaces Q&A Link: sli.do Event code: 1109824 115
Slide 116: Andrew Kvålseth
Andrew Kvålseth CIO and EVP Growth & Investments 116
Slide 117: Investment Strategy
Investment Strategy 117
Slide 118: Investing where Schibsted has a competitive advantage
Investment Strategy Investing where Schibsted has a competitive advantage, to build our future position and create strong shareholder returns Growth & Investment Growth Active portfolio investments management and M&A Integrate into core Early stage Synergies and minority and value investments accele
Slide 119: Investing in growth is part of our DNA
Investment Strategy Investing in growth is part of our DNA Capital deployed1 Share of investment1 Examples of investments 2010-20233 (2010-2022) Money multiplier IRR News Media 10% 2.3x 68% & others 82% ~200 Growth and 9.4x 27% 2 beyond investments Marketplaces 90% 23.4x 45% NOK 18bn 18% Early stage
Slide 120: Early stage investments built strategic positions and returns
Investment Strategy Early stage investments have been an important part of building strategic positions and strong returns Partnering with entrepreneurs for the past 20 …strong positions …and positioned us years has generated… and returns… for the future 18% of total capital deployed1 Growth & Inves
Slide 121: A refocused investment strategy
Investment Strategy Adapting to changing conditions – a refocused investment strategy 121
Slide 122: A refocused investment strategy
Investment Strategy A refocused investment strategy Based on market changes and learnings over the past Investment closer to core More active ownership, value creation and synergies realisation Realise and crystalise value from non-core holdings Disciplined capital allocation 122
Slide 123: Active ownership focused on value creation
Investment Strategy Active ownership focused on value creation Clear ownership agenda Post-acquisition planning, Investment closer to core including full potential plan integration, and follow-up More active ownership, value Active performance management Regular portfolio reviews creation and synerg
Slide 124: Driving synergies across our portfolio
Investment Strategy Driving synergies across our portfolio Scaling through our Investment closer to core platforms More active ownership, value creation and synergies realisation Applying our knowledge Realise and crystalise value from non-core holdings and competence Disciplined capital allocation
Slide 125: Driving synergies across our portfolio
Investment Strategy Driving synergies across our portfolio Scaling through our platforms Applying our knowledge and competence Nettbil grew by 52% YoY to NOK 194m in 2022 Bundling, cross- and upselling 125
Slide 126: Driving synergies across our portfolio
Investment Strategy Driving synergies across our portfolio Scaling through our platforms Applying our knowledge and competence Conversion rate increase after implementing Prisjakt Bundling, cross- and integration upselling 126
Slide 127: Driving synergies across our portfolio
Investment Strategy Driving synergies across our portfolio Scaling through our platforms Applying our knowledge and competence Since acquisition Podme’s subscriber base has grown 3x Bundling, cross- and upselling 127
Slide 128: Driving synergies across our portfolio
Investment Strategy Driving synergies across our portfolio Scaling through our platforms Applying our knowledge and competence Qasa grew signing value1 by 122% YoY in 2022 Bundling, cross- and upselling 128 1. Net present value of booked recurring revenue for duration of rental agreement
Slide 129: Driving synergies across our portfolio
Investment Strategy Driving synergies across our portfolio Scaling through our platforms Applying our knowledge Lendo has a and competence higher top-of-mind awareness than leading banks1 Bundling, cross- and upselling 129 1. Data source: Leading industry consultants - based on responses to the foll
Slide 130: Realizing value through exits
Investment Strategy Realizing value through exits Several initiatives conducted to realise value created Pursued exit processes to unlock value Investment closer to core – process stopped due to market More active ownership, value conditions creation and synergies realisation Realised 4.5bn NOK from
Slide 131: Disciplined capital allocation
Investment Strategy Disciplined capital allocation Focus investments Strict return Investment closer to core behind core domains, requirements, based on risk with clear synergies More active ownership, value creation and synergies realisation Realise and crystalise value from non-core holdings Treat
Slide 132: Invest where Schibsted has a competitive advantage
Investment Strategy Investments to build the future of Schibsted We will invest where Schibsted has a competitive advantage, to build towards the future of Schibsted and generate shareholder value 132
Slide 133: Ragnar Kårhus
Ragnar Karhus EVP CFO 133 Schibsted
Slide 134: Finance
Finance 134
Slide 135: Solid financial performance
Finance Solid financial performance Continued revenue growth EBITDA dominated by Nordic Marketplaces NOKm NOKm 8%1 Thereof Nordic Marketplaces 135 1. CAGR 2020-2022, Foreign exchange neutral basis and adjusted for acquisitions and sold operations
Slide 136: Focused capital allocation
Finance Focused capital allocation Capital allocation beyond organic investments Capex per financial segment 2020-20221 2020-20222 1 NOK NOK c.9.7bn1 c.2.4bn 136 1.2. Assuming full completion of ongoing share buyback programme announced on 9 December 2022 with maximum value of NOK 1.7 billion, inclu
Slide 137: Robust financial position
Finance Robust financial position Financial gearing well within target range, Financial gearing well within target range following Adevinta transactions in November NIBD/EBITDA according to bank definition Ratio expected to increase gradually to c.2.0, assuming completion of current buyback programm
Slide 138: Financial ownership in Adevinta
Finance Financial ownership in Adevinta Major shareholder in Adevinta, one of the Adevinta shareholder structure largest classifieds player globally which was spun off in 2019 and is listed on Oslo Børs eBay c. 33% 2 Board seats Financial ownership following the eCG deal Schibsted c. 28% 2 Board sea
Slide 139: Schibsted's market cap is dominated by Adevinta stake
Finance Schibsted’s market cap is dominated by our stake in Adevinta Market valuations of Schibsted and Adevinta Market capitalisation1 are affected by current structure: NOKbn 1. Adevinta’s market value accounts for more than 50% of Schibsted’s market cap 2. Limited free float and share overhang in
Slide 140: Three main options to reduce exposure to Adevinta
Finance Three main options to reduce exposure to Adevinta over time Continuously exploring and developing three main options: 1. Structural sale 2. Share sale(s) in the market 3. Full or partial distribution of Adevinta shares to Schibsted’s shareholders (“spin”) 4. A combination of the above can be
Slide 141: New reporting structure in Nordic Marketplaces
Finance New reporting structure in Nordic Marketplaces effective Q1 2023 Nordic Marketplaces – Nordic Marketplaces – Other changes effective Old reporting structure New reporting structure1 Q1 20233 Country-based reporting: Vertical-based reporting: Capex and leases split by financial • Revenues (Cl
Slide 142: New medium-term financial targets for Nordic Marketplaces
Finance New medium-term financial targets for Nordic Marketplaces New 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% bre
Slide 143: Q1 Trading Update
Finance Q1 Trading Update Nordic Marketplaces • Solid trends in Mobility and Real Estate, with increasing volumes in Mobility and continued ARPA growth in Real Estate • Accelerated revenue decline in Jobs and advertising, driven by market headwinds • Cost increases from new hires seen in Q4, spill o
Slide 144: Executive Summary
Finance Executive Summary ✔ Well positioned for further growth as a Group with a strong portfolio of digital businesses – particularly uniquely positioned as marketplaces powerhouse in the Nordics, further strengthened by verticalisation over time ✔ Robust financial position, and flexibility from Ad
Slide 145: Summary
Summary 145
Slide 146: To summarise
Schibsted To summarise Schibsted builds from a strong and unique The changes we are making will further position in the Nordics strengthen our position & profitability Marketplace and Media powerhouse Build vertical marketplace champions with leading positions to ride the next wave of growth Robust
Slide 147: Q&A
Schibsted Q&A Link: sli.do Event code: 1109824 147
Slide 148: Appendix
Appendix 148
Slide 149: Total volume development for used cars
Appendix | Mobility Total volume development for used cars Total C2C used cars sold (Thousands) Total B2C used cars sold (Thousands) 149 Source: FINN; Blocket; Danmarks Statistik
Slide 150: Average price per used car in the Nordics
Appendix | Mobility Average price per used car in the Nordics All figures in thousand NOK 150 Source: FINN; Blocket; Danmarks Statistik
Slide 151: Nordics at the forefront of electrification
Appendix | Mobility The Nordics are at the forefront of the electrification megatrend with EV sales reaching ~80% of Norwegian new car sales Electrification of the Nordic car fleet Total EV new car sales (Thousands) EV penetration (% of total new car sales) 151 Source: ofv.no; vroom.nu; statbank.dk;
Slide 152: Transactional rental business model
Appendix | Real Estate Transactional rental business model Business model and payment setup Indicative financials per rental contract 1 Landlord and tenant sign the contract. The tenant agrees to pay NOK x GTV1 per contract per month in “monthly cost” (i.e. rent + ~5% in service fee) TENANT LANDLORD
Slide 153: Classifieds and transactional monetization model and benchmarks
Appendix | Recommerce Classifieds and transactional monetization model and benchmarks Limited private monetization with classifieds model Proven monetization of transactional models Classifieds business model: Transactional business model: Freemium for private buyers/sellers Charge for shipping and
Slide 154: Gross and net revenue recognition in transactional Recommerce
Appendix | Recommerce In transactional Recommerce models, there will be a mix of gross and net revenue recognition – gross profit as a metric becomes increasingly important Gross vs. net revenue recognition is determined by whether Nordic Marketplaces (NMP) is an agent or a principal: ● NMP is a pri
Slide 155: Adevinta lockups end in October 2023
Appendix | Finance Adevinta lockups end in October 2023 High-level summary of current remaining lockup agreements1: • A mutual tag-along right between Schibsted and eBay lasting until 18 May 2023. • A restriction for Schibsted and eBay to sell below 25%, and for Permira to sell below 10%, lasting 27
Slide 156: Changes in Financials and Analytical Info spreadsheet
Appendix | Finance Changes in Financials and Analytical Info spreadsheet1 Nordic Marketplaces Growth & Investments 1. New vertical-based reporting, splitting 1. Changed naming from previously FS&V Revenues (Classifieds, Advertising, Other), Operating expenses and EBITDA per vertical 2. Compricer and
Slide 157: Investor contact
Appendix | Contact information Investor contact Visit Schibsted’s website: Jann-Boje Meinecke VP, Head of IR schibsted.com +47 941 00 835 Malin Langtvet Email: IR Officer ir@schibsted.com +47 916 86 710 Schibsted ASA, Akersgata 55 / P.O. Box 490 Sentrum, NO-0105 Oslo 157