Vend Marketplaces ASA

Earnings Release • Feb 11, 2022

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q4 2021

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q4 2021

11.2.2022 07:00:01 CET | Schibsted | Half yearly financial reports and audit

reports / limited reviews

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q4 2021

Today, Schibsted released its Q4 2021 results.

A solid Q4 concluded a strong, record high 2021 for Schibsted

"Q4 concluded a strong, record high 2021 for Schibsted, with strong underlying1

revenue growth of 11 percent and an EBITDA of 2,740 million, up NOK 615 million

compared to last year," CEO Kristin Skogen Lund says.

"Q4 was a solid quarter with 7 percent underlying2 revenue growth driven by

Nordic Marketplaces, and News Media. EBITDA ended at NOK 634 million, NOK 30

million below last year driven by higher investments across the Group, while

Marketplaces Norway delivered strong year-on-year EBITDA growth of NOK 99

million," CEO Kristin Skogen Lund says.

"Nordic Marketplaces delivered once again strong underlying2 revenue growth of

18 percent, driven by our professional customers in Norway, Sweden and Finland,

and particularly in Jobs. In particular Norway stands out, delivering another

exceptionally strong quarter measured in both revenues and EBITDA; its best

quarter in 2021, while Q4 usually declines quarter-on-quarter due to

seasonality. While Jobs was the main driver for the strong performance, Motors

and advertising revenues also continued to grow well in Norway. The increase in

Motors was driven by Nettbil as well as higher car volumes on Finn, which is

exceptional looking at trends in other markets. In Sweden, Jobs continued its

strong growth while the car supply shortage and lower revenues from the

Generalist business affected results negatively. Finland grew well in Q4, mainly

driven by higher volumes in Jobs, and also made good progress in Real estate,

growing cross-traffic between Oikotie and Tori by 30 percent quarter-on-quarter.

Trends in Denmark improved, but revenues ended still below last year driven by

lower volumes in Motors as the business continued to be affected by the car

supply shortage. However, Bilbasen's position remains strong, and average

revenue per listing increased in the fourth quarter due to sales efforts," CEO

Kristin Skogen Lund says.

"News Media continued to perform well with an underlying3 revenue growth of 6

percent thanks to a strong quarter for digital advertising, in particular for VG

and Aftonbladet, as well as steady growth in digital subscriptions. As expected,

costs increased year-on-year due to a ramp up of investments in new strategic

initiatives across our brands with focus on content, including podcasts," CEO

Kristin Skogen Lund says.

"eCommerce & Distribution delivered revenues in line with last year, driven by

slower parcel volume growth in the market," CEO Kristin Skogen Lund says.

"Lendo continued with strong underlying3 revenue growth in Q4 driven by high

demand and improved conversion in Sweden and Norway, while the overall portfolio

in Financial Services & Ventures had a mixed performance. Within this portfolio,

Mötesplatsen and Let's Deal were exited," CEO Kristin Skogen Lund says.

"Ventures increased our investment in Tibber to around 15 percent ownership in

Q4, made several new investments ranging from Fintech to Digital Health, and

sold Capcito with a solid return," CEO Kristin Skogen Lund says.

"In accordance with our dividend policy, the Board has proposed an ordinary

dividend of NOK 2.00 per share for 2021," CEO Kristin Skogen Lund says.

This quarter's highlights

* Underlying2 revenue growth of 7 percent, EBITDA of NOK 634 million.

* Nordic Marketplaces: 18 percent underlying2 revenue growth, primarily driven

by the Job vertical. Especially a strong quarter for Norway with 31 percent

revenue growth and 50 percent EBITDA margin. Accelerated revenue growth in

Finland, while Sweden and Denmark continued to be affected by the car supply

shortage.

* News Media: Continued to perform well with 6 percent underlying3 revenue

growth thanks to strong digital advertising sales and steady growth in

subscriptions. As expected, cost increased driven by content investments; 11

percent EBITDA margin.

* eCommerce & Distribution delivered revenues in line with last year, driven by

slower parcel volume growth in the market.

* Financial Services & Ventures: Continued strong underlying3 revenue growth of

21 percent in Lendo. High activity in Ventures.

* Dividend of NOK 2.00 per share proposed for 2021.

| Fourth quarter | | Year |

---------------------------------------------------------------------------

(NOK million) | 2021 | 2020 | Change | 2021 | 2020 | Change

---------------------------------------------------------------------------

Schibsted Group | | | | | |

---------------------------------------------------------------------------

Operating revenues | 3,936 | 3,620 | 9% | 14,623 | 12,908 | 13%

---------------------------------------------------------------------------

- of which digital | 2,635 | 2,245 | 17% | 9,557 | 7,893 | 21%

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EBITDA | 634 | 665 | (5%) | 2,740 | 2,126 | 29%

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EBITDA margin | 16% | 18% | | 19% | 16% |

Alternative performance measures used in this release are described and

presented in the section Definitions and reconciliations in the quarterly

report.

Webcast presentation including Q&A, 11 February 2022 at 09:00 CET

CEO Kristin Skogen Lund and Head of IR Jann-Boje Meinecke will present the Q4

results as a live webcast, including a Q&A session. The presentation and

following Q&A session will be held in English. The webcast can be viewed live at

schibsted.com/ir - http://schibsted.com/ir (

https://channel.royalcast.com/landingpage/hegnarmedia/20220211_7/).

For the Q&A, participants can send in written questions via Slido (link: sli.do

- http://sli.do; event code: 549703). It will not be possible to ask questions

by phone.

As a result of the COVID-19 pandemic, it will not be possible to attend the

presentation in person at our headquarters in Oslo.

A recording of the presentation will be available on our IR website shortly

after the live webcast has ended.

Oslo, 11 February 2022

SCHIBSTED ASA

1 Foreign exchange neutral basis and including pro-forma revenues for Oikotie

and Marketplaces Denmark before Schibsted ownership

2 Foreign exchange neutral basis and including pro-forma revenues for

Marketplaces Denmark in Q4 2020

3 Foreign exchange neutral basis

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to Section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Jann-Boje Meinecke, VP, Head of Investor Relations, +47 941 00 835,

jbm@schibsted.com

* Nathalie Kåvin, Head of External Communications & Brand Management, +47 934

01 363, nathalie.kavin@schibsted.com

ABOUT SCHIBSTED

Schibsted is a family of digital brands with a strong Nordic position, and more

than 5,000 employees. Millions of people enjoy interacting with our companies

every day through our online marketplaces such as FINN, Blocket and Oikotie; our

media houses including Aftenposten, VG and Aftonbladet; and digital services

like Lendo. We also help new promising businesses grow. Our joint mission of

empowering people in their daily lives is rooted in the values of our media

heritage and a legacy of bold change. At our best, we are a fearless force for

change in a society built on trust and transparency.

Schibsted is listed on Oslo Børs and has a sizable investment in Adevinta, a

company that was spun off and publicly listed as a separate company on Oslo Børs

in 2019.

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847482/1184/1569/Download%20announcement

%20as%20PDF.pdf

Interim report Q4 2021.pdf -

https://kommunikasjon.ntb.no/ir-files/17847482/1184/1564/Interim%20report%20Q4%2

02021.pdf

Results presentation Q4 2021.pdf -

https://kommunikasjon.ntb.no/ir-files/17847482/1184/1565/Results%20presentation%

20Q4%202021.pdf

Financials and analytical info Q4 2021.pdf -

https://kommunikasjon.ntb.no/ir-files/17847482/1184/1566/Financials%20and%20anal

ytical%20info%20Q4%202021.pdf