Vend Marketplaces ASA

Annual / Quarterly Financial Statement • Jul 18, 2024

Schibsted Marketplaces

Financials and analytical info Q2 2024

• 1. Profit loss statement
• 1. Balance sheet
• 1. Cash flow
• 1. Segment overview
• 1. Nordic Marketplaces
• 1. Delivery
• 1. Growth & Investments

For details on Adevinta, please refer to Adevinta's reporting on adevinta.com/ir

For questions, please contact Schibsted Marketplaces IR:

Jann-Boje Meinecke, Head of IR ir@schibsted.com +47 941 00 835

Malin Ebenfelt, IR Officer ir@schibsted.com +47 916 86 710

schibsted.com/ir

NOK million

										SCHIBSTED MARKETPLACES GROUP
1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	CONDENSED CONSOLIDATED		Year to date Year to date	Full year	Full year
2022	2022	2022	2022	2023	2023	2023	2023	2024	2024	INCOME STATEMENT	2024	2023	2023	2022
					re-presented re-presented re-presented re-presented re-presented re-presented re-presented re-presented re-presented								re-presented re-presented re-presented
954	1,027	1,002	983	1,074	1,192	1,159	1,109	1,191		1,337 Classified revenues	2,528	2,266	4,534	3,965
156	172	139	172	129	151	133	162	108		148 Advertising revenues	256	281	576	639
1,065	1,052	1,097	1,155	1,118	1,113	1,067	1,090	1,022		1,040 Other revenues	2,062	2,230	4,387	4,370
2,176	2,250	2,239	2,310	2,322	2,456	2,359	2,360	2,321		2,525 Operating revenues	4,846	4,778	9,497	8,974
(57)	(31)	(27)	(34)	(31)	(23)	(23)	(26)	(28)		(20) Raw materials and finished goods	(48)	(55)	(103)	(149)
(727)	(776)	(701)	(808)	(805)	(839)	(750)	(869)	(881)		(866) Personnel expenses	(1,747)	(1,643)	(3,262)	(3,012)
(995)	(995)	(959)	(1,003)	(1,063)	(1,056)	(1,013)	(1,046)	(1,018)		(1,093) Other operating expenses	(2,111)	(2,119)	(4,178)	(3,951)
397	447	553	465	422	538	574	420	394		546 Gross operating profit (loss) - EBITDA	939	960	1,954	1,862
(139)	(151)	(153)	(167)	(174)	(183)	(181)	(217)	(194)		(199) Depreciation and amortisation	(393)	(356)	(755)	(611)
(2)	(6)	(0)	(22)	(9)	0	(22)	(17)	0		(2) Impairment loss	(2)	(9)	(47)	(30)
1	1	-	-	23	17	12	3	-	-	Other income	-	40	55	2
(31)	(46)	(28)	(41)	(54)	(15)	(4)	(69)	(111)		(128) Other expenses	(239)	(70)	(142)	(147)
226	245	372	234	208	357	378	121	88		218 Operating profit (loss)	306	565	1,064	1,076
(41)	(56)	(35)	(50)	(23)	(1)	(23)	(24)	(17)		(26) Share of profit (loss) of joint ventures and associates	(42)	(23)	(70)	(182)
-	(24)	(37)	(28)	(10)	(6)	(34)	(38)	(43)		(3) Impairment loss on joint ventures and associates (recognised or reversed)	(46)	(17)	(88)	(89)
1	1	16	(30)	-	-	1	1	(2)	-	Gains (losses) on disposal of joint ventures and associates	(2)	-	2	(12)
81	14	4	17	319	47	1,297	214	16		116 Financial income	129	190	1,701	116
(65)	(88)	(93)	(550)	(140)	(394)	(125)	(122)	(113)		(119) Financial expense	(228)	(358)	(605)	(796)
202	91	228	(406)	354	3	1,495	152	(70)		186 Profit (loss) before taxes	116	357	2,004	115
(50)	(56)	(83)	(60)	(48)	(78)	(88)	(32)	(35)		(65) Taxes	(101)	(126)	(247)	(249)
153	35	145	(466)	306	(76)	1,407	120	(106)		121 Profit (loss) from continuing operations	15	230	1,757	(134)
(13,589)	(6,446)	(3,282)	929	1,865	(1,873)	13,049	2,078	(1,114)		6,604 Profit (loss) from discontinued operations	5,491	(8)	15,119	(22,389)
(13,436)	(6,412)	(3,137)	464	2,170	(1,949)	14,456	2,198	(1,220)		6,725 Profit (loss)	5,506	221	16,876	(22,521)
										Profit (loss) attributable to:
18	19	15	9	10	21	19	18	17		5 Non-controlling interests	22	30	68	60
(13,454)	(6,430)	(3,152)	454	2,160	(1,969)	14,437	2,180	(1,237)		6,721 Owners of the parent	5,484	191	16,808	(22,582)
(57.49)	(27.48)	(13.46)	1.94	9.34	(8.59)	63.74	9.68	(5.49)		Earnings per share (NOK) 29.21 Basic	24.09	0.83	73.70	(96.53)
(57.49)	(27.48)	(13.46)	1.94	9.33	(8.59)	63.64	9.66	(5.49)		29.16 Diluted (1)	24.05	0.83	73.53	(96.53)
0.44	0.75	0.04	(0.45)	(23.07)	(4.38)	1.17	0.47	(4.36)		1.03 Basic - adjusted	(3.34)	(27.54)	(26.19)	0.77
0.44	0.75	0.04	(0.45)	(23.05)	(4.38)	1.17	0.47	(4.36)		1.02 Diluted - adjusted (1)	(3.33)	(27.51)	(26.13)	0.77

(1) Diluted EPS disclosed in Q1 to Q3 2022 have been restated in accordance with accounting standards.

NOK million

CONDENSED CONSOLIDATED	31.03	30.06	30.09	31.12	31.03	30.06	30.09	31.12	31.03	30.06
STATEMENT OF FINANCIAL POSITION	2022	2022	2022	2022	2023	2023	2023	2023	2024	2024
	restated	restated	restated	restated	restated	restated	restated
Intangible assets	9,373	10,016	10,225	10,389	11,079	11,279	10,968	11,091	11,493	9,627
Property, plant and equipment	532	525	526	535	537	564	547	580	570	205
Right-of-use assets	1,369	1,957	1,868	1,796	2,002	2,039	1,955	1,944	2,010	889
Investments in joint ventures and associates	33,880	29,883	27,380	23,523	26,503	25,177	37,427	39,721	932	535
Deferred tax assets	604	579	583	584	568	540	508	540	509	299
Equity instruments	894	878	864	901	860	763	760	823	776	16,469
Other non-current assets	69	42	44	36	37	62	58	48	43	35
Non-current assets	46,723	43,880	41,489	37,763	41,585	40,424	52,223	54,747	16,333	28,058
Contract assets	247	254	191	167	129	156	165	145	157	115
Trade receivables and other current assets	1,940	1,993	2,222	2,040	2,173	2,180	3,156	2,243	2,375	1,775
Cash and cash equivalents	1,337	293	287	3,738	2,683	1,487	1,100	1,279	263	8,932
Assets held for sale	-	-	-	-	-	-	16	-	39,239	-
Current assets	3,524	2,541	2,700	5,945	4,985	3,823	4,438	3,667	42,033	10,822
Total assets	50,246	46,421	44,189	43,708	46,570	44,247	56,661	58,414	58,367	38,881
Paid-in equity	7,061	7,068	7,080	7,095	7,092	7,113	7,135	7,160	7,144	7,162
Other equity	27,910	23,819	21,417	21,410	24,421	22,251	35,103	37,301	37,685	23,249
Equity attributable to owners of the parent	34,972	30,887	28,497	28,505	31,513	29,364	42,238	44,461	44,829	30,412
Non-controlling interests	185	137	152	161	178	112	130	142	145	16
Equity	35,156	31,024	28,650	28,666	31,691	29,476	42,368	44,603	44,975	30,428
Deferred tax liabilities	550	580	564	502	530	535	499	417	422	404
Pension liabilities	1,044	1,045	1,182	1,145	1,085	1,037	1,047	1,196	1,155	471
Non-current interest-bearing loans and borrowings	4,587	5,657	5,670	4,630	4,142	4,906	4,906	4,872	4,876	3,022
Non-current lease liabilities	1,244	1,874	1,809	1,755	1,941	1,977	1,894	1,868	1,881	778
Other non-current liabilities	511	567	544	588	610	436	427	282	381	256
Non-current liabilities	7,936	9,723	9,769	8,620	8,309	8,891	8,772	8,636	8,714	4,931
Current interest-bearing loans and borrowings	3,271	1,674	1,676	1,724	2,005	1,233	1,229	780	284	-
Income tax payable	141	105	169	232	151	121	108	246	164	149
Current lease liabilities	327	306	301	325	343	334	351	368	384	165
Contract liabilities	618	628	611	574	689	651	620	632	675	194
Other current liabilities	2,797	2,961	3,014	3,567	3,381	3,539	3,191	3,149	3,171	3,013
Liabilities held for sale	-	-	-	-	-	-	21	-	-	-
Current liabilities	7,154	5,674	5,770	6,423	6,569	5,879	5,521	5,175	4,678	3,521
Total equity and liabilities	50,246	46,421	44,189	43,708	46,570	44,247	56,661	58,414	58,367	38,881

Restatement of the periods Q1 2022 to Q3 2023 is due to a prior period error. The error is related to a financial liability not having been recognised for the obligation to acquire non-controlling interests in a subsidiary.

NOK million

CONDENSED CONSOLIDATED	31.03	30.06	30.09	31.12	31.03	30.06	30.09	31.12	31.03	30.06
STATEMENT OF CASH FLOWS	2022	2022	2022	2022	2023	2023	2023	2023	2024	2024
		re-presented re-presented re-presented re-presented re-presented					re-presented re-presented re-presented re-presented
Profit (loss) before taxes from continuing operations	203	293	521	116	353	356	1,851	2,003	(70)	116
Profit (loss) before taxes from discontinued operations	(13,594)	(20,034)	(23,324)	(22,360)	1,826	(45)	13,013	15,160	(1,125)	5,478
Depreciation, amortisation and impairment losses (recognised or reversed)	13,796	20,643	24,079	23,971	(6,959)	(5,877)	(18,579)	(20,401)	454	713
Net interest expense	55	120	191	267	68	156	253	358	95	129
Net effect pension liabilities	(47)	(45)	(33)	(22)	(59)	(108)	(98)	(88)	(50)	(78)
Share of loss (profit) of joint ventures and associates	53	41	212	482	5,295	6,385	6,340	6,328	944	963
Dividends received from joint ventures and associates		- 55	55	56		- 25	25	25	-	-
Interest received	2	5	8	24	31	61	87	105	14	75
Interest paid	(46)	(130)	(184)	(266)	(85)	(194)	(298)	(425)	(99)	(201)
Taxes paid	(81)	(190)	(206)	(260)	(104)	(216)	(273)	(327)	(121)	(233)
Non-operating gains and losses	(64)	(37)	(30)	(233)	(263)	3	(1,184)	(1,117)	89	(6,513)
Change in working capital and provisions	(141)	(187)	(319)	(90)	113	112	50	87	(23)	(107)
Net cash flow from operating activities	137	535	970	1,684	215	658	1,186	1,708	108	341
- of which from continuing operations					237	591	1,105	1,363	100	280
- of which from discontinued operations					(21)	67	81	345	8	61
Net cash flow from investing activities	(744)	(1,103)	(1,377)	2,616	(216)	(726)	(1,002)	(700)	(499)	27,741
- of which from continuing operations					(139)	(526)	(718)	87	(428)	(589)
- of which from discontinued operations					(77)	(200)	(284)	(787)	(71)	28,329
Net cash flow from financing activities	847	(249)	(417)	(1,672)	(1,062)	(2,192)	(2,824)	(3,474)	(627)	(20,428)
- of which from continuing operations					(1,009)	(2,089)	(2,661)	(3,259)	(572)	(20,308)
- of which from discontinued operations					(53)	(103)	(163)	(215)	(55)	(120)
Effect of exchange rate changes on cash and cash equivalents	(11)	3	4	2	8	9	6	8	1	-
Net increase (decrease) in cash and cash equivalents	229	(815)	(821)	2,630	(1,055)	(2,251)	(2,634)	(2,458)	(1,017)	7,653
Cash and cash equivalents at start of period	1,108	1,108	1,108	1,108	3,738	3,738	3,738	3,738	1,279	1,279
Cash and cash equivalents at end of period	1,337	293	287	3,738	2,683	1,487	1,104	1,279	263	8,932
- of which cash and cash equivalents in assets held for sale		-	-	-	-	-	- 4		- -	-
- of which cash and cash equivalents excluding assets held for sale	1,337	293	287	3,738	2,683	1,487	1,100	1,279	263	8,932

NOK million
1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter		Year to date	Year to date	Full year	Full year
2022	2022	2022	2022	2023	2023	2023	2023	2024	2024	SCHIBSTED MARKETPLACES GROUP	2024	2023	2023	2022
				re-presented re-presented re-presented re-presented re-presented re-presented re-presented re-presented re-presented									re-presented re-presented re-presented
										Operating revenues
1,171	1,274	1,209	1,203	1,278	1,440	1,361	1,327	1,377		1,532 Nordic Marketplaces	2,908	2,718	5,407	4,856
477	413	425	506	471	428	410	443	430		469 Delivery	899	899	1,753	1,822
451	488	541	568	516	523	531	537	458		453 Growth & Investments	911	1,039	2,107	2,048
182	193	187	192	216	231	218	231	242		271 Other/Headquarters	513	447	897	754
(105)	(119)	(124)	(159)	(158)	(167)	(162)	(179)	(186)		(200) Eliminations	(385)	(325)	(666)	(507)
2,176	2,250	2,239	2,310	2,322	2,456	2,359	2,360	2,321		2,525 Schibsted Marketplaces Group	4,846	4,778	9,497	8,974
										EBITDA
443	549	486	430	420	526	504	418	411		568 Nordic Marketplaces	979	946	1,868	1,908
(13)	(28)	(13)	4	(3)	(4)	1	20	1		12 Delivery	13	(7)	14	(50)
26	33	104	103	52	67	93	76	40		53 Growth & Investments	92	119	288	266
(59)	(107)	(24)	(71)	(47)	(50)	(23)	(94)	(59)		(86) Other/Headquarters	(145)	(97)	(215)	(261)
397	447	553	465	422	538	574	420	394		546 Schibsted Marketplaces Group	939	960	1,954	1,862

NOK million 1 quarter 2022	2 quarter 2022	3 quarter 2022	4 quarter 2022	1 quarter 2023	2 quarter 2023	3 quarter 2023	4 quarter 2023	1 quarter 2024	2 quarter 2024	Nordic Marketplaces	2024	Year to date Year to date Full year 2023	2023	Full year 2022
955	1,026	1,002	983	1,073	1,191	1,158	1,108	1,190		Nordic Marketplaces total 1,335 Classifieds revenues	2,524	2,264	4,530	3,967
131	149	123	136	118	141	120	131	100		120 Advertising revenues	220	258	510	538
84 1,171	99 1,274	84 1,209	84 1,203	87 1,278	109 1,440	83 1,361	88 1,327	87 1,377		77 Other revenues 1,532 Operating revenues	164 2,908	196 2,718	367 5,407	352 4,856
33 % (727)	22 % (725)	8 % (723)	6 % (772)	9 % (858)	13 % (915)	13 % (858)	10 % (909)	8 % (966)		6 % YOY revenue growth (964) Operating expenses	7 %	11 %	11 % (1,930) (1,772) (3,539) (2,948)	16 %
443 38 %	549 43 %	486 40 %	430 36 %	420 33 %	526 37 %	504 37 %	418 32 %	411 30 %		568 EBITDA 37 % EBITDA-margin	979 34 %	946 35 %	1,868 35 %	1,908 39 %
319	366	391	369	383	459	466	444	454		Mobility 524 Classifieds revenues	978	842	1,753	1,446
58	69	57	61	54	70	59	61	49		59 Advertising revenues	108	124	244	245
49 427	58 493	52 500	44 475	49 485	70 599	47 572	45 550	48 551		50 Other revenues 633 Operating revenues	99 1,184	119 1,084	210 2,207	203 1,894
(217)	(222)	(225)	(240)	14 % (266)	21 % (284)	14 % (268)	16 % (280)	13 % (283)		6 % YOY revenue growth (291) Operating expenses	9 % (574)	18 %	16 % (549) (1,098)	(904)
209 49 %	272 55 %	275 55 %	235 50 %	220 45 %	315 53 %	304 53 %	270 49 %	268 49 %		342 EBITDA 54 % EBITDA-margin	610 51 %	535 49 %	1,109 50 %	991 52 %
392	363	309	320	369	324	283	291	345		Jobs 318 Classifieds revenues	663	694	1,267	1,383
2 3	2 3	1 2	2 3	2 3	2 3	1 4	2 3	2 2		1 Advertising revenues 1 Other revenues	3 3	4 7	7 14	7 10
397	367	312	324	375	329	288	296	349		321 Operating revenues	669	704	1,288	1,400
(166)	(145)	(151)	(156)	-6 % (177)	-10 % (166)	-8 % (161)	-9 % (171)	-7 % (191)		-3 % YOY revenue growth (168) Operating expenses	-5 % (359)	-8 % (343)	-8 % (674)	(618)
231 58 %	222 60 %	161 52 %	168 52 %	198 53 %	163 50 %	127 44 %	125 42 %	158 45 %		152 EBITDA 47 % EBITDA-margin	310 46 %	361 51 %	613 48 %	782 56 %
										Real Estate
147 18	193 20	192 17	178 18	190 14	261 17	249 16	210 15	228 12		319 Classifieds revenues 14 Advertising revenues	547 26	451 32	910 63	711 74
11	13	12	10	12	17	15	11	10		8 Other revenues	18	29	54	46
177	226	221	206	216 22 %	295 31 %	280 26 %	236 14 %	250 16 %		341 Operating revenues 16 % YOY revenue growth	591 16 %	511 27 %	1,027 24 %	830
(129) 48	(128) 97	(129) 93	(132) 74	(152) 64	(167) 128	(160) 120	(156) 80	(186) 64		(188) Operating expenses 153 EBITDA	(374) 217	(319) 192	(635) 392	(518) 312
27 %	43 %	42 %	36 %	30 %	43 %	43 %	34 %	26 %		45 % EBITDA-margin	37 %	38 %	38 %	38 %
75	73	74	94	102	115	125	142	141		Recommerce 148 Classifieds revenues	289	217	485	316
50	54	44	53	43	49	42	50	36		44 Advertising revenues	79	92	184	201
7 131	6 134	7 125	11 158	10 155	9 173	13 180	16 208	14 190		10 Other revenues 201 Operating revenues	23 391	20 328	48 717	31 547
				18 %	29 %	44 %	32 %	22 %		16 % YOY revenue growth	19 %	24 %	31 %
(195) (63)	(196) (62)	(198) (74)	(224) (67)	(241) (86)	(261) (88)	(247) (67)	(278) (69)	(272) (82)		(274) Operating expenses (73) EBITDA	(546) (155)	(174)	(503) (1,027) (311)	(813) (266)
-48 %	-46 %	-59 %	-42 %	-55 %	-51 %	-38 %	-33 %	-43 %		-36 % EBITDA-margin	-40 %	-53 %	-43 %	-49 %
										Other Nordic Marketplaces (1)
39 (20)	54 (34)	51 (20)	40 (21)	46 (22)	45 (37)	42 (22)	37 (24)	37 (34)		35 Operating revenues/eliminations (42) Operating expenses	73 (76)	91 (58)	169 (105)	184 (95)
19	20	31	19	24	8	20	12	4		(7) EBITDA	(3)	32	64	89
				0.9480 0.9568 0.9474 0.9501 0.9806 1.0175 0.9695 1.0164 1.0124 1.0059 SEK/NOK									1.0092 0.9989 0.9959 0.9506
				1.3349 1.3472 1.3524 1.3971 1.4758 1.5645 1.5301 1.5624 1.5310 1.5501 DKK/NOK 9.9327 10.0228 10.0610 10.3919 10.9845 11.6554 11.4042 11.6525 11.4152 11.5635 EUR/NOK									1.5406 1.5199 1.5331 1.3579 11.4893 11.3181 11.4232 10.1020
722	804	758	732	785	903	855	781	825		Nordic Marketplaces Operating revenues per country 968 Norway	1,793	1,688	3,324	3,016
248	275	259	264	257	292	273	291	305		320 Sweden	625	550	1,114	1,046
115	113	117	132	133	143	142	157	157		153 Denmark	310	276	574	477
96 (10)	95 (14)	89 (14)	99 (24)	107 (4)	106 (4)	98 (7)	104 (6)	98 (8)		98 Finland (9) Other Nordic Marketplaces (1)	197 (17)	213 (8)	415 (20)	379 (62)
										Mobility Operating revenues per country
188	224	229	201	207	273	268	223	208		269 Norway	477	480	972	842
156	185	182	181	174	207	188	203	215		235 Sweden	450	380	770	704
76 7	77 8	79 8	84 9	90 15	98 20	95 21	105 21	110 19		107 Denmark 23 Finland	217 43	188 35	388 77	316 32
-	-	-	-	-	-	-	-	(2)		(2) Eliminations	(4)	-	-	-
										Jobs Operating revenues per country
316	298	249	253	304	270	238	243	298		281 Norway	579	573	1,054	1,115
39 0	38 0	35 0	37 0	34 -	32 -	26 -	27 -	22 -		19 Sweden - Denmark	41 -	66 -	119 -	149 0
42	31	29	35	37	28	25	26	29		23 Finland	52	64	115	137
-	-	-	-	-	-	-	-	-		(3) Eliminations	(3)	-	-	-
142	188	181	163	171	245	227	184	195		Real Estate Operating revenues per country 281 Norway	476	416	827	674
10	11	13	15	17	18	22	21	27		29 Sweden	55	35	79	49
1	1	0	1	1	1	1	1	1		1 Denmark	2	2	3	2
24 -	26 -	27 -	27 -	28 -	31 -	30 -	30 -	28 -		30 Finland - Eliminations	58 (1)	59 -	118 -	104 -
37	44	48	69	66	78	82	102	94		Recommerce Operating revenues per country 106 Norway	200	145	329	197
42	38	26	28	32	36	38	41	41		37 Sweden	78	68	147	134
38 14	35 17	36 15	45 16	42 15	42 17	45 15	50 16	44 11		44 Denmark 15 Finland	88 26	84 32	178 63	153 63
-	-	-	-	-	-	-	-	-		(1) Eliminations	(1)	-	-	-
										Other operating revenues per country
38	51	52	46	36	37	40	29	29		30 Norway	59	74	142	188
1 1	3 1	2 2	4 2	(0) 1	0 2	(0) 1	0 1	0 2		(0) Sweden 1 Denmark	0 3	(0) 3	(1) 5	11 5
9	13	10	12	12	10	8	12	12		7 Finland	18	22	42	43
(10)	(14)	(14)	(24)	(4)	(4)	(7)	(6)	(5)		(3) Other Nordic Marketplaces (1)	(8)	(8)	(20)	(62)

(1) Other Nordic Marketplaces includes Other businesses outside of the main verticals and eliminations

NOK million
1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter			Year to date Year to date	Full year	Full year
2022	2022	2022	2022	2023	2023	2023	2023	2024	2024	Delivery	2024	2023	2023	2022
										Delivery total
477	413	425	506	471	428	410	443	430		469 Operating revenues	899	899	1,753	1,822
133	129	138	194	166	161	162	187	187		236 - of which Helthjem Netthandel	423	327	676	594
-9 %	-13 %	0 %	3 %	-1 %	4 %	-4 %	-12 %	-9 %		10 % YOY revenue growth	0 %	1 %	-4 %	-5 %
(490)	(441)	(438)	(503)	(474)	(432)	(409)	(423)	(429)		(457) Operating expenses	(886)	(906)	(1,739)	(1,873)
(13)	(28)	(13)	4	(3)	(4)	1	20	1		12 EBITDA	13	(7)	14	(50)
-3 %	-7 %	-3 %	1 %	-1 %	-1 %	0 %	5 %	0 %		3 % EBITDA-margin	1 %	-1 %	1 %	-3 %

NOK million
1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter		Year to date	Year to date	Full year	Full year
2022	2022	2022	2022	2023	2023	2023	2023	2024	2024	Growth & Investments	2024	2023	2023	2022
	re-presented re-presented re-presented re-presented re-presented												re-presented re-presented re-presented
451	488	541	568	516	523	531	537	458		Growth & Investments total 453 Operating revenues	911	1,039	2,107	2,048
-8 %	3 %	2 %	8 %	14 %	7 %	-2 %	-5 %	-11 %		-13 % YOY revenue growth	-12 %	11 %	3 %	1 %
(425)	(455)	(438)	(465)	(463)	(456)	(438)	(461)	(418)		(401) Operating expenses	(819)	(920)	(1,819)	(1,783)
26	33	104	103	52	67	93	76	40		53 EBITDA	92	119	288	266
6 %	7 %	19 %	18 %	10 %	13 %	17 %	14 %	9 %		12 % EBITDA-margin	10 %	11 %	14 %	13 %
											-
										Lendo	-
297	312	358	323	329	329	339	274	274		260 Operating revenues	534	658	1,271	1,290
11 %	20 %	11 %	13 %	11 %	5 %	-5 %	-15 %	-17 %		-21 % YOY revenue growth	-19 %	8 %	-1 %	13 %
(257)	(274)	(280)	(282)	(276)	(268)	(264)	(251)	(229)		(221) Operating expenses	(450)	(544)	(1,059)	(1,094)
40	38	78	41	52	61	75	24	45		39 EBITDA	84	113	212	197
13 %	12 %	22 %	13 %	16 %	19 %	22 %	9 %	17 %		15 % EBITDA-margin	16 %	17 %	17 %	15 %
											-
										Prisjakt
76	78	87	141	92	97	94	146	85		87 Operating revenues	172	190	430	382
-15 %	-11 %	6 %	14 %	21 %	26 %	8 %	3 %	-8 %		-11 % YOY revenue growth	-9 %	23 %	12 %	0 %
(64)	(68)	(59)	(82)	(74)	(82)	(71)	(89)	(67)		(70) Operating expenses	(137)	(156)	(315)	(272)
12	10	29	59	18	16	23	57	18		17 EBITDA	35	34	114	110
16 %	12 %	33 %	42 %	19 %	16 %	25 %	39 %	21 %		20 % EBITDA-margin	20 %	18 %	27 %	29 %
										Other Growth & Investments (1)	- -
78	98	96	104	95	96	98	117	99		106 Operating revenues/eliminations	205	191	406	376
-41 %	-23 %	-24 %	-10 %	22 %	-2 %	2 %	13 %	4 %		10 % YOY revenue growth	7 %	8 %	8 %	-25 %
(104)	(113)	(99)	(101)	(112)	(107)	(103)	(122)	(123)		(110) Operating expenses	(232)	(219)	(445)	(417)
(26)	(14)	(3)		3 (18)	(10)	(5)	(5)	(24)		(4) EBITDA	(27)	(28)	(39)	(41)
-34 %	-15 %	-3 %	3 %	-19 %	-11 %	-6 %	-4 %	-24 %		-3 % EBITDA-margin	-13 %	-15 %	-9 %	-11 %

(1) Other Growth & Investments includes MittAnbud, 3byggetilbud, Servicefinder, Elton, Schibsted Growth HQ, other Growth & Investments assets, SPT cost allocation and eliminations