Vend Marketplaces ASA

Annual / Quarterly Financial Statement • Feb 10, 2023

Financials and analytical info Q4 2022

• 1. Profit loss statement
• 1. Balance sheet
• 1. Cash flow
• 1. Segment overview
• 1. Nordic Marketplaces
• 1. News Media
• 1. eCommerce & Distribution

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

For questions, please contact Schibsted IR:

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

ir@schibsted.com +47 916 86 710

schibsted.com/ir

NOK million

												SCHIBSTED GROUP
1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	3 quarter		4 quarter CONDENSED CONSOLIDATED	Full year	Full year	Full year
2020	2020	2020	2020	2021	2021	2021	2021	2022	2022	2022	2022	INCOME STATEMENT	2022	2021	2020
restated and	restated and														restated and
re-presented	re-presented	restated	restated	restated	restated	restated	restated							restated	re-presented
593	590	649	653	702	832	892	884	954	1,027	1,002		983 Classified revenues	3,965	3,309	2,485
653	653	630	894	705	843	765	995	766	885	733		929 Advertising revenues	3,313	3,309	2,829
473	495	490	694	551	670	613	801	615	730	580		765 -of which digital	2,689	2,634	2,153
689	717	737	761	763	753	789	788	773	820	841		854 Subscription revenues	3,287	3,093	2,905
301	324	349	363	374	374	404	403	399	450	472		484 -of which digital	1,806	1,556	1,336
306	315	331	303	273	282	288	264	239	248	249		229 Casual sales	966	1,107	1,256
785	799	840	1,009	958	908	933	1,006	916	900	931		993 Other revenues	3,741	3,804	3,434
3,026	3,073	3,188	3,620	3,401	3,619	3,667	3,936	3,648	3,880	3,756		3,988 Operating revenues	15,272	14,623	12,908
(93)	(100)	(109)	(151)	(146)	(129)	(115)	(141)	(148)	(138)	(125)		(139) Raw materials and finished goods	(549)	(531)	(454)
(1,221)	(1,189)	(1,130)	(1,365)	(1,299)	(1,366)	(1,293)	(1,527)	(1,453)	(1,534)	(1,389)		(1,554) Personnel expenses	(5,929)	(5,486)	(4,905)
(1,427)	(1,286)	(1,271)	(1,439)	(1,361)	(1,380)	(1,490)	(1,634)	(1,566)	(1,589)	(1,587)		(1,645) Other operating expenses	(6,387)	(5,865)	(5,422)
285	498	678	665	594	743	769	634	480	620	655		651 Gross operating profit (loss) - EBITDA	2,406	2,740	2,126
(193)	(199)	(218)	(218)	(220)	(233)	(268)	(262)	(263)	(278)	(283)		(292) Depreciation and amortisation	(1,117)	(984)	(829)
(0)	(6)	0	(25)	(6)	(91)	(7)	(14)	(2)	(6)	(0)		(23) Impairment loss	(31)	(119)	(32)
61 (11)	63 (58)	(1) (93)	11 (71)	6 (31)	59 (45)	115 (26)	1 (70)	- (32)	10 (57)	2 (32)		1 Other income (52) Other expenses	13 (173)	181 (172)	133 (234)
141	297	366	360	343	432	583	289	184	289	342		285 Operating profit (loss)	1,099	1,647	1,165
(30)	(4)	2	(12)	(0)	(22)	(24)	(146)	(53)	11	(170)		(270) Share of profit (loss) of joint ventures and associates	(482)	(193)	(44)
-	(7)	(7)	(15)	-	-	(2)	(19,998)	(13,531)	(6,564)	(3,153)		424 Impairment loss on joint ventures and associates	(22,823)	(20,000)	(29)
	6 (1)	(1)	6	3	5	8	131	1	1	16		657 Gains (losses) on disposal of joint ventures and associates	675	148	10
16	7	14	12	3	4	3	18	83	13	4		17 Financial income	117	28	37
(56)	(53)	(52)	(47)	(56)	(58)	(58)	(78)	(75)	(100)	(101)		(553) Financial expense	(830)	(248)	(197)
77	239	321	304	294	362	509	(19,782)	(13,391)	(6,350)	(3,062)		559 Profit (loss) before taxes	(22,244)	(18,618)	941
(28)	264	(59)	(49)	(71)	(57)	(96)	(57)	(45)	(62)	(75)		(72) Taxes	(254)	(280)	128
48	503	262	254	222	305	414	(19,839)	(13,436)	(6,412)	(3,137)		487 Profit (loss) from continuing operations	(22,497)	(18,898)	1,068
(434)	(34)	(209)	444	(501)	60,471	(3)	(2)	(0)	(0)	-		(24) Profit (loss) from discontinued operations	(24)	59,965	(233)
(385)	469	53	698	(279)	60,776	410	(19,841)	(13,436)	(6,412)	(3,137)		464 Profit (loss)	(22,521)	41,066	836
												Profit (loss) attributable to:
(171)	(1)	(58)	209	(175)	(135)	18	18	18	19	15		9 Non-controlling interests	60	(274)	(22)
(214)	471	112	490	(104)	60,911	392	(19,859)	(13,454)	(6,430)	(3,152)		454 Owners of the parent	(22,582)	41,341	858
												Earnings per share (NOK)
(0.91)	2.01	0.48	2.09	(0.44)	260.36	1.68	(84.86)	(57.49)	(27.48)	(13.46)		1.94 Basic	(96.53)	176.70	3.67
(0.91)	2.01	0.48	2.09	(0.44)	259.92	1.67	(84.86)	(57.49)	(27.48)	(13.46)		1.94 Diluted (1)	(96.53)	176.70	3.66
(1.11)	2.03	1.60	2.69	1.41	3.50	1.28	0.35	0.44	0.75	0.04		(0.45) Basic - adjusted	0.77	6.54	5.21
(1.11)	2.03	1.60	2.69	1.41	3.50	1.28	0.35	0.44	0.75	0.04		(0.45) Diluted - adjusted (1)	0.77	6.54	5.20

(1) Diluted EPS disclosed in Q4 2021 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	30.09	31.12
STATEMENT OF FINANCIAL POSITION	2020	2020	2020	2020	2021	2021	2021	2021	2022	2022	2022	2022
Intangible assets	19,773	19,014	6,153	6,018	5,824	9,420	9,363	9,313	9,373	10,016	10,225	10,389
Property, plant and equipment and investment property	869	745	492	480	462	499	496	520	532	525	526	535
Right-of-use assets	2,894	2,735	1,641	1,620	1,549	1,516	1,441	1,355	1,369	1,957	1,868	1,796
Investments in joint ventures and associates	4,340	4,062	906	922	918	69,883	69,898	48,520	33,880	29,883	27,380	23,523
Deferred tax assets	234	588	702	690	709	716	737	621	604	579	583	584
Other non-current assets	346	344	88	101	97	132	285	736	963	921	908	937
Non-current assets	28,456	27,489	9,981	9,832	9,560	82,166	82,221	61,065	46,723	43,880	41,489	37,763
Contract assets	226	226	178	173	170	267	255	210	247	254	191	167
Trade receivables and other current assets	3,198	3,147	1,839	1,792	1,835	1,617	1,758	1,806	1,940	1,993	2,222	2,040
Cash and cash equivalents	3,977	6,282	1,021	1,306	1,104	727	709	1,108	1,337	293	287	3,738
Assets held for sale	-	-	25,184	35,375	33,292	-	-	-	-	-	-	-
Current assets	7,401	9,655	28,222	38,646	36,401	2,610	2,722	3,125	3,524	2,541	2,700	5,945
Total assets	35,857	37,144	38,204	48,478	45,961	84,776	84,943	64,189	50,246	46,421	44,189	43,708
Paid-in equity	6,993	6,990	7,011	7,028	7,034	7,026	7,049	7,060	7,061	7,068	7,080	7,095
Other equity	3,820	3,696	3,738	3,151	2,770	64,120	64,340	43,271	28,010	23,930	21,526	21,518
Equity attributable to owners of the parent	10,813	10,686	10,749	10,178	9,804	71,145	71,389	50,332	35,071	30,997	28,606	28,613
Non-controlling interests	6,887	6,402	6,111	5,675	5,465	112	130	201	220	161	178	188
Equity	17,700	17,088	16,860	15,853	15,269	71,257	71,519	50,533	35,291	31,158	28,785	28,801
Deferred tax liabilities	1,078	1,020	335	351	331	641	590	576	550	580	564	502
Pension liabilities	1,356	1,450	1,235	1,154	1,094	1,065	1,252	1,090	1,044	1,045	1,182	1,145
Non-current interest-bearing loans and borrowings	4,958	5,297	3,139	3,090	3,078	6,344	3,034	3,592	4,587	5,657	5,670	4,630
Non-current lease liabilities	2,750	2,579	1,550	1,503	1,424	1,388	1,316	1,237	1,244	1,874	1,809	1,755
Other non-current liabilities	521	411	290	317	269	389	379	340	511	567	544	588
Non-current liabilities	10,664	10,757	6,550	6,416	6,195	9,827	6,571	6,835	7,936	9,723	9,769	8,620
Current interest-bearing loans and borrowings	1,102	3,133	693	678	675	79	3,375	3,274	3,271	1,674	1,676	1,724
Income tax payable	184	115	235	74	95	122	190	154	141	105	169	232
Current lease liabilities	426	446	275	286	293	298	307	306	327	306	301	325
Contract liabilities	1,278	1,227	585	600	635	632	588	553	618	628	611	574
Other current liabilities	4,502	4,378	2,279	2,537	2,322	2,562	2,392	2,534	2,662	2,826	2,879	3,432
Liabilities held for sale	-	-	10,727	22,034	20,476	-	-	-	-	-	-	-
Current liabilities	7,492	9,299	14,793	26,209	24,497	3,692	6,853	6,821	7,019	5,539	5,635	6,288
Total equity and liabilities	35,857	37,144	38,204	48,478	45,961	84,776	84,943	64,189	50,246	46,421	44,189	43,708

NOK million

CONDENSED CONSOLIDATED	31.03	30.06	30.09	31.12	31.03	30.06	30.09	31.12	31.03	30.06	30.09	31.12
STATEMENT OF CASH FLOWS	2020	2020	2020	2020	2021	2021	2021	2021	2022	2022	2022	2022
					restated	restated	restated	restated
Profit (loss) before taxes from continuing operations	77	316	637	941	294	655	1,165	(18,618)	(13,391)	(19,741)	(22,803)	(22,244)
Profit (loss) before taxes from discontinued operations	(308)	(247)	(272)	154	(335)	(130)	(134)	(134)	-	-	-	-
Depreciation, amortisation and impairment losses	335	710	968	1,226	226	552	829	21,103	13,796	20,643	24,079	23,971
Net interest expense *					126	243	293	347	55	120	191	267
Net effect pension liabilities	(46)	(42)	(28)	(7)	(55)	(79)	(71)	(85)	(47)	(45)	(33)	(22)
Share of loss (profit) of joint ventures and associates	27	9	17	29	-	23	47	193	53	41	212	482
Dividends received from joint ventures and associates	-	-	23	23	12	13	16	16	-	55	55	56
Interest received *					3	5	7	9	2	5	8	24
Interest paid *					(45)	(319)	(357)	(414)	(46)	(130)	(184)	(266)
Taxes paid	(159)	(333)	(522)	(819)	(199)	(397)	(415)	(424)	(81)	(190)	(206)	(260)
Sales losses (gains) non-current assets and other non-cash losses (gains)	(66)	(124)	(138)	(189)	553	522	404	309	(64)	(37)	(30)	(233)
Non-cash items and change in working capital and provisions *	678	717	974	1,043	136	230	49	195	(141)	(187)	(319)	(90)
Net cash flow from operating activities	538	1,005	1,659	2,402	715	1,318	1,833	2,498	137	535	970	1,684
- of which from continuing operations	98	418	711	1,292	299	977	1,493	2,157	137	535	970	1,684
- of which from discontinued operations	440	587	948	1,110	416	341	341	341	-	-	-	-
Net cash flow from investing activities	(366)	(708)	(2,947)	(6,109)	(404)	(4,914)	(5,278)	(5,923)	(744)	(1,103)	(1,377)	2,616
- of which from continuing operations	(165)	(348)	(2,473)	(2,654)	(424)	(3,534)	(3,782)	(4,425)	(744)	(1,103)	(1,377)	2,616
- of which from discontinued operations	(201)	(360)	(474)	(3,455)	20	(1,380)	(1,496)	(1,499)	-	-	-	-
Net cash flow from financing activities	(201)	2,121	2,022	2,624	(341)	1,694	1,525	1,909	847	(249)	(417)	(1,672)
- of which from continuing operations	(155)	(319)	(391)	(498)	(69)	2,086	1,917	2,301	847	(249)	(417)	(1,672)
- of which from discontinued operations	(46)	2,440	2,413	3,122	(271)	(392)	(392)	(392)	-	-	-	-
Effect of exchange rate changes on cash and cash equivalents	140	(2)	67	(105)	(80)	(48)	(49)	(54)	(11)	3	4	2
Net increase (decrease) in cash and cash equivalents	111	2,417	801	(1,188)	(109)	(1,951)	(1,969)	(1,570)	229	(815)	(821)	2,630
Cash and cash equivalents at start of period	3,866	3,866	3,866	3,866	2,678	2,678	2,678	2,678	1,108	1,108	1,108	1,108
Cash and cash equivalents at end of period	3,977	6,282	4,666	2,678	2,569	727	709	1,108	1,337	293	287	3,738
- of which cash and cash equivalents in assets held for sale	-	-	3,645	1,371	1,464	-	-	-	-	-	-	-
- of which cash and cash equivalents excluding assets held for sale	3,977	6,282	1,021	1,306	1,104	727	709	1,108	1,337	293	287	3,738

* Interests are presented on separate lines from 2022. Comparable figures have been restated for 2021.

NOK million
1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	3 quarter	4 quarter		Full year	Full year	Full year
2020	2020	2020	2020	2021	2021	2021	2021	2022	2022	2022	2022	SCHIBSTED GROUP	2022	2021	2020
restated	restated	restated	restated	restated	restated	restated	restated							restated	restated
												Operating revenues
743	753	827	857	877	1,047	1,121	1,131	1,171	1,274	1,209		1,203 Nordic Marketplaces	4,856	4,176	3,181
1,670	1,697	1,721	1,983	1,761	1,868	1,842	2,055	1,798	1,956	1,835		2,019 News Media	7,608	7,525	7,070
354	382	376	491	523	475	424	491	477	413	425		506 eCommerce & Distribution	1,822	1,913	1,604
473	463	496	538	490	476	533	526	450	487	537		562 Financial Services & Ventures	2,035	2,026	1,971
236	250	225	231	223	216	217	248	239	249	246		248 Other/Headquarters	982	904	942
(450)	(471)	(458)	(480)	(473)	(463)	(469)	(515)	(487)	(500)	(495)		(550) Eliminations	(2,032)	(1,921)	(1,859)
3,026	3,073	3,188	3,620	3,401	3,619	3,667	3,936	3,648	3,880	3,756		3,988 Schibsted Group	15,272	14,623	12,908
												EBITDA
298	341	356	340	360	489	499	434	443	549	486		430 Nordic Marketplaces	1,908	1,782	1,336
34	130	258	290	193	263	246	229	81	169	101		180 News Media	531	931	712
(1)	6	9	29	28	10	(10)	(2)	(13)	(28)	(13)		4 eCommerce & Distribution	(50)	26	43
20	58	110	81	56	42	97	53	29	37	107		109 Financial Services & Ventures	281	249	270
(66)	(36)	(55)	(76)	(43)	(60)	(63)	(80)	(59)	(107)	(25)		(72) Other/Headquarters	(263)	(247)	(234)
285	498	678	665	594	743	769	634	480	620	655		651 Schibsted Group	2,406	2,740	2,126

NOK million 1 quarter 2020 restated	2 quarter 2020 restated	3 quarter 2020 restated	4 quarter 2020 restated	1 quarter 2021	2 quarter 2021	3 quarter 2021	4 quarter 2021	1 quarter 2022	2 quarter 2022	3 quarter 2022	4 quarter 2022	Nordic Marketplaces	Full year 2022	Full year 2021	Full year 2020 restated
594 101 49 743 3 % (445) 298 40 %	590 106 57 753 -7 % (412) 341 45 %	649 110 68 827 8 % (471) 356 43 %	653 132 72 857 13 % (517) 340 40 %	702 107 67 877 18 % (517) 360 41 %	833 136 78 1,047 39 % (558) 489 47 %	893 135 93 1,121 35 % (622) 499 45 %	884 158 89 1,131 32 % (698) 434 38 %	955 131 84 1,171 33 % (727) 443 38 %	1,026 149 99 1,274 22 % (725) 549 43 %	1,002 123 84 1,209 8 % (723) 486 40 %		Nordic Marketplaces total 983 Classifieds revenues 136 Advertising revenues 84 Other revenues 1,203 Operating revenues 6 % YOY revenue growth (772) Operating expenses 430 EBITDA 36 % EBITDA-margin	3,967 538 352 4,856 16 % (2,948) 1,908 39 %	3,311 537 327 4,176 31 % (2,394) 1,782 43 %	2,486 449 246 3,181 4 % (1,845) 1,336 42 %
383 50 48 480 0 % (270) 211 44 %	366 49 54 469 -13 % (225) 244 52 %	388 45 53 486 -4 % (256) 230 47 %	383 56 59 498 2 % (269) 229 46 %	430 49 54 533 11 % (266) 268 50 %	538 64 69 670 43 % (300) 370 55 %	522 58 68 647 33 % (297) 351 54 %	525 66 61 653 31 % (325) 327 50 %	602 59 60 722 35 % (330) 392 54 %	665 67 72 804 20 % (343) 461 57 %	643 50 65 758 17 % (370) 388 51 %		Marketplaces Norway 609 Classifieds revenues 58 Advertising revenues 65 Other revenues 732 Operating revenues 12 % YOY revenue growth (413) Operating expenses 318 EBITDA 44 % EBITDA-margin	2,518 234 263 3,016 20 % (1,457) 1,558 52 %	2,015 237 251 2,503 29 % (1,188) 1,316 53 %	1,520 200 214 1,934 -4 % (1,019) 914 47 %
200 38 1 239 9 % (139) 100 42 %	214 44 3 261 7 % (151) 110 42 %	216 46 2 263 10 % (139) 125 47 %	218 53 10 281 13 % (159) 123 44 %	208 40 4 252 6 % (147) 105 42 %	233 50 4 287 10 % (163) 124 43 %	227 44 4 275 4 % (152) 123 45 %	212 50 4 267 -5 % (161) 106 40 %	205 40 3 248 -2 % (160) 87 35 %	220 49 5 275 -4 % (178) 97 35 %	214 40 4 258 -6 % (154) 104 40 %		Marketplaces Sweden 214 Classifieds revenues 43 Advertising revenues 6 Other revenues 263 Operating revenues -2 % YOY revenue growth (159) Operating expenses 104 EBITDA 40 % EBITDA-margin	854 173 17 1,043 -4 % (651) 392 38 %	881 185 15 1,081 4 % (623) 458 42 %	848 181 16 1,044 10 % (587) 457 44 %
11 13 0 24 4 % (20) 4 15 %	11 13 1 24 -16 % (24) 0 1 %	47 20 12 79 216 % (64) 15 19 %	53 24 14 90 286 % (84) 6 7 %	63 18 13 94 292 % (91) 4 4 %	62 22 12 96 300 % (82) 14 15 %	61 16 11 89 12 % (73) 15 17 %	64 20 10 95 5 % (94) 0 0 %	69 15 12 96 2 % (103) (7) -7 %	62 19 15 95 -1 % (90) 6 6 %	59 17 12 89 0 % (77) 11 13 %		Marketplaces Finland 67 Classifieds revenues 18 Advertising revenues 15 Other revenues 99 Operating revenues 4 % YOY revenue growth (81) Operating expenses 18 EBITDA 18 % EBITDA-margin	257 68 53 379 1 % (351) 28 7 %	251 77 46 374 72 % (340) 34 9 %	122 69 27 217 117 % (192) 25 12 %
						83 16 16 115 (89) 26 23 %	82 22 20 123 (94) 30 24 %	78 17 19 115 (96) 19 17 %	80 14 20 113 (94) 19 17 %	84 15 18 117 2 % (94) 23 20 %		Marketplaces Denmark 92 Classifieds revenues 17 Advertising revenues 22 Other revenues 132 Operating revenues 7 % YOY revenue growth (99) Operating expenses 33 EBITDA 25 % EBITDA-margin	335 63 80 477 100 % (383) 94 20 %	165 38 36 239 (183) 56 23 %
(0) (16) (16)	(1) (13) (14)	(1) (12) (14)	(12) (5) (17)	(3) (14) (17)	(7) (13) (19)	(6) (10) (16)	(6) (24) (30)	(10) (39) (48)	(13) (20) (33)	(13) (27) (41)		Other Nordic Marketplaces (1) (23) Operating revenues/eliminations (20) Operating expenses (43) EBITDA (1) Other Nordic Marketplaces includes Nordic Marketplaces headquarters, SPT cost allocation and eliminations	(59) (106) (165)	(22) (60) (82)	(14) (47) (61)
0.9792	1.0340	1.0296	1.0476	1.0145 10.4521 11.0202 10.6704 10.7574 10.2640 10.0894 10.3274	0.9951	1.0130 1.3887	0.9850 9.9723 1.3408	0.9480 1.3349	0.9568 9.9327 10.0228 10.0610 10.3919 EUR/NOK 1.3472	0.9474 1.3524		0.9501 SEK/NOK 1.3971 DKK/NOK	0.9506 10.1020 10.1633 10.7250 1.3579	1.0019 1.3647	1.0226
204 39 1 244 4 % (142) 102 42 %	207 43 3 252 -6 % (146) 106 42 %	209 44 2 256 -1 % (135) 121 47 %	209 50 10 268 3 % (151) 117 44 %	205 40 4 249 2 % (145) 104 42 %	234 50 4 288 14 % (164) 124 43 %	224 44 4 271 6 % (150) 121 45 %	216 51 4 271 1 % (163) 108 40 %	216 42 3 261 5 % (169) 92 35 %	230 52 5 287 0 % (186) 101 35 %	226 43 4 273 0 % (163) 110 40 %		Marketplaces Sweden in SEK 226 Classifieds revenues 45 Advertising revenues 6 Other revenues 277 Operating revenues 2 % YOY revenue growth (167) Operating expenses 110 EBITDA 40 % EBITDA-margin	898 182 18 1,098 2 % (685) 413 38 %	879 185 15 1,080 6 % (622) 457 42 %	829 177 15 1,020 0 % (574) 446 44 %
1 1 0 2 -3 % (2) 0 15 %	1 1 0 2 -26 % (2) 0 1 %	4 2 1 7 192 % (6) 1 19 %	5 2 1 8 262 % (8) 1 7 %	6 2 1 9 299 % (9) 0 4 %	6 2 1 10 337 % (8) 1 15 %	6 2 1 9 16 % (7) 1 17 %	6 2 1 10 13 % (9) 0 0 %	7 1 1 10 5 % (10) (1) -7 %	6 2 1 9 0 % (9) 1 6 %	6 2 1 9 3 % (8) 1 13 %		Marketplaces Finland in EUR 6 Classifieds revenues 2 Advertising revenues 1 Other revenues 10 Operating revenues 0 % YOY revenue growth (8) Operating expenses 2 EBITDA 18 % EBITDA-margin	25 7 5 37 2 % (35) 3 7 %	25 8 5 37 82 % (34) 3 9 %	11 6 3 20 99 % (18) 2 12 %
						60 12 12 83 (64) 19 23 %	61 16 15 92 (70) 22 24 %	59 13 14 86 (72) 14 17 %	59 10 15 84 (70) 14 17 %	62 11 13 87 4 % (69) 17 20 %		Marketplaces Denmark in DKK 66 Classifieds revenues 12 Advertising revenues 16 Other revenues 94 Operating revenues 3 % YOY revenue growth (71) Operating expenses 23 EBITDA 25 % EBITDA-margin	247 46 59 351 101 % (282) 69 20 %	121 28 26 175 (134) 41 23 %

NOK million
1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	3 quarter	4 quarter		Full year	Full year	Full year
2020	2020	2020	2020	2021	2021	2021	2021	2022	2022	2022	2022	News Media	2022	2021	2020
restated	restated	restated	restated	restated	restated	restated	restated							restated	restated
												News Media total
554	552	525	746	607	711	638	842	645	749	628		789 Advertising revenues	2,811	2,797	2,377
372	392	384	545	450	536	486	640	493	570	497		625 -of which digital	2,186	2,113	1,694
632	657	674	696	699	690	728	734	724	750	772		783 Subscription revenues	3,029	2,851	2,658
242	263	285	297	310	311	342	350	350	380	403		413 -of which digital	1,548	1,313	1,086
306	315	331	303	273	282	288	264	238	248	249		229 Casual sales	966	1,107	1,256
178	173	190	237	182	185	188	215	190	208	185		218 Other revenues	802	770	778
1,670	1,697	1,721	1,983	1,761	1,868	1,842	2,055	1,798	1,956	1,835		2,019 Operating revenues	7,608	7,525	7,070
				5 %	10 %	7 %	4 %	2 %	5 %	0 %		-2 % YOY revenue growth	1 %	6 %
(607)	(591)	(527)	(621)	(597)	(638)	(571)	(696)	(660)	(694)	(611)		(680) Personnel expenses	(2,645)	(2,502)	(2,346)
(1,028)	(975)	(937)	(1,072)	(970)	(967)	(1,025)	(1,130)	(1,057)	(1,093)	(1,123)		(1,159) Other expenses	(4,431)	(4,093)	(4,012)
(1,635)	(1,567)	(1,463)	(1,693)	(1,568)	(1,605)	(1,596)	(1,826)	(1,717)	(1,787)	(1,734)		(1,839) Operating expenses	(7,077)	(6,594)	(6,358)
34	130	258	290	193	263	246	229	81	169	101		180 EBITDA	531	931	712
2 %	8 %	15 %	15 %	11 %	14 %	13 %	11 %	5 %	9 %	5 %		9 % EBITDA-margin	7 %	12 %	10 %
												Split revenue per brand
404	421	439	504	456	503	495	599	511	569	512		617 VG	2,208	2,052	1,768
340	359	367	436	376	408	393	423	355	387	373		395 Aftonbladet	1,510	1,600	1,502
780	770	767	861	775	793	780	850	766	801	766		825 Subscription Newspapers	3,159	3,199	3,178
146	146	147	182	153	164	174	183	166	200	183		183 Other (1)	731	674	621
1,670	1,697	1,721	1,983	1,761	1,868	1,842	2,055	1,798	1,956	1,835		2,019 Operating revenues	7,608	7,525	7,070

(1) Other News Media includes Print, News Media HQ, Shared Services, New Models (TV.nu, Klart.se, Vinguiden and Omni) and eliminations

0.9792	1.0340	1.0296	1.0476	1.0145	0.9951	1.0130	0.9850	0.9480	0.9568	0.9474	0.9501 SEK/NOK	0.9506	1.0019	1.0226
											Aftonbladet in SEK
347	347	357	416	371	410	388	430	375	404	394	415 Operating revenues	1,588	1,598	1,467
-14 %	-14 %	-5 %	3 %	7 %	18 %	9 %	3 %	1 %	-1 %	2 %	-3 % YOY revenue growth	-1 %	9 %	-7 %

NOK million
1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	3 quarter	4 quarter		Full year	Full year	Full year
2020	2020	2020	2020	2021	2021	2021	2021	2022	2022	2022	2022	eCommerce & Distribution	2022	2021	2020
restated	restated	restated	restated	restated	restated									restated	restated
												eCommerce & Distribution total
354	382	376	491	523	475	424	491	477	413	425		506 Operating revenues	1,822	1,913	1,604
18 %	27 %	19 %	36 %	48 %	24 %	13 %	0 %	-9 %	-13 %	0 %		3 % YOY revenue growth	-5 %	19 %	25 %
(356)	(375)	(368)	(462)	(495)	(465)	(434)	(492)	(490)	(441)	(438)		(503) Operating expenses	(1,873)	(1,886)	(1,561)
(1)	6	9	29	28	10	(10)	(2)	(13)	(28)	(13)		4 EBITDA	(50)	26	43
0 %	2 %	2 %	6 %	5 %	2 %	-2 %	0 %	-3 %	-7 %	-3 %		1 % EBITDA-margin	-3 %	1 %	3 %
												Split revenue per Business area
119	164	151	249	282	250	198	252	241	188	190		260 New business (1)	879	982	683
259	247	255	291	296	277	278	300	293	275	287		313 Legacy (2)	1,168	1,151	1,052
(24)	(30)	(29)	(49)	(55)	(51)	(52)	(62)	(56)	(50)	(51)		(67) Eliminations	(224)	(220)	(132)
354	382	376	491	523	475	424	491	477	413	425		506 Operating revenues	1,822	1,913	1,604

(1) New business consists of mainly the eCommerce brands Helthjem and Morgenlevering (2) Legacy consists of the newspaper distribution operations in Norway

NOK million
1 quarter 2020	2 quarter 2020	3 quarter 2020	4 quarter 2020	1 quarter 2021	2 quarter 2021	3 quarter 2021	4 quarter 2021	1 quarter 2022	2 quarter 2022	3 quarter 2022	4 quarter 2022	Financial Services & Ventures	Full year 2022	Full year 2021	Full year 2020
restated	restated	restated	restated	restated	restated									restated	restated
												Financial Services & Ventures
473	463	496	538	490	476	533	526	450	487	537		562 Operating revenues	2,035	2,026	1,971
7 %	11 %	10 %	8 %	4 %	3 %	7 %	-2 %	-8 %	2 %	1 %		7 % YOY revenue growth	0 %	3 %	9 %
(453)	(406)	(386)	(457)	(434)	(435)	(436)	(473)	(421)	(450)	(430)		(453) Operating expenses	(1,755)	(1,778)	(1,702)
20	58	110	81	56	42	97	53	29	37	107		109 EBITDA	281	249	270
4 %	12 %	22 %	15 %	12 %	9 %	18 %	10 %	6 %	8 %	20 %		19 % EBITDA-margin	14 %	12 %	14 %
												Lendo
250	208	251	229	242	238	300	262	273	289	330		295 Operating revenues	1,187	1,042	938
9 %	1 %	9 %	5 %	-3 %	14 %	19 %	14 %	13 %	22 %	10 %		13 % YOY revenue growth	14 %	11 %	6 %
(207)	(182)	(174)	(185)	(193)	(204)	(229)	(218)	(234)	(255)	(260)		(260) Operating expenses	(1,008)	(844)	(749)
43	25	78	43	50	34	70	44	39	34	70		36 EBITDA	179	197	189
17 %	12 %	31 %	19 %	20 %	14 %	23 %	17 %	14 %	12 %	21 %		12 % EBITDA-margin	15 %	19 %	20 %
												Prisjakt
75	94	86	144	89	87	83	124	76	78	87		141 Operating revenues	382	383	398
3 %	29 %	34 %	24 %	20 %	-7 %	-4 %	-14 %	-15 %	-11 %	6 %		14 % YOY revenue growth	0 %	-4 %	22 %
(62)	(58)	(60)	(96)	(64)	(65)	(57)	(88)	(64)	(68)	(59)		(82) Operating expenses	(272)	(274)	(276)
12	36	26	48	25	22	26	36	12	10	29		59 EBITDA	110	109	122
16 %	38 %	31 %	33 %	28 %	25 %	32 %	29 %	16 %	12 %	33 %		42 % EBITDA-margin	29 %	29 %	31 %
												Other Financial Services & Ventures (1)
148	162	159	165	159	152	151	141	101	120	120		126 Operating revenues/eliminations	467	602	635
6 %	15 %	3 %	2 %	7 %	-7 %	-5 %	-15 %	-36 %	-21 %	-21 %		-10 % YOY revenue growth	-22 %	-5 %	6 %
(183)	(166)	(153)	(175)	(177)	(166)	(150)	(167)	(123)	(127)	(112)		(112) Operating expenses	(474)	(660)	(677)
(35)	(3)	6	(10)	(18)	(14)	1	(27)	(22)	(7)	8		14 EBITDA	(8)	(58)	(42)
-23 %	-2 %	4 %	-6 %	-12 %	-9 %	1 %	-19 %	-22 %	-6 %	7 %		11 % EBITDA-margin	-2 %	-10 %	-7 %

(1) Other Financial Services & Ventures includes Compricer, Finansportalen, MittAnbud, 3byggetilbud, Servicefinder, Mötesplatsen, Let's Deal, Schibsted Growth HQ, other Financial Services and Growth assets, SPT cost allocation and eliminations