Vend Marketplaces ASA

Earnings Release • Oct 27, 2021

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q3 2021

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q3 2021

27.10.2021 07:00:01 CEST | Schibsted | Half yearly financial reports and audit

reports / limited reviews

Today, Schibsted released its Q3 2021 results.

Continued strong revenue and EBITDA growth

"We are pleased to share that we continued our positive development in the third

quarter, with an underlying1 revenue growth of 11 percent which included an

increase in revenues across all segments. EBITDA margin was strong at 21

percent, driven by Nordic Marketplaces," CEO Kristin Skogen Lund says.

"Revenues in Nordic Marketplaces increased by an underlying1 18 percent. The

strong rebound in revenues over the last quarters demonstrates the strength of

our marketplaces, built on strong brands and market positions as well as

continuous product development. As in previous quarters, the revenue increase

was driven by our professional customers in Norway, Sweden and Finland, and

particularly within the Job verticals. Denmark had a soft quarter as car dealers

were confronted with low inventory and high turnover which affected both online

classifieds and advertising spend negatively," CEO Kristin Skogen Lund says.

"News Media reached a new important milestone with more than one million purely

digital subscriptions and delivered an underlying2 revenue growth of 7 percent.

This was achieved by strong digital advertising sales and continued good

progress of our subscription business. To build on this trend and grasp the

growth potential for this business, we have started to ramp up investments, for

example in the podcast subscription service PodMe and our business news site

E24," CEO Kristin Skogen Lund says.

"Distribution continued to achieve solid revenue growth, though somewhat lower

than earlier this year due to reduced volume growth following the reopening of

the Norwegian society. This trend also affected Prisjakt, which witnessed lower

activity and a revenue decline during the third quarter," CEO Kristin Skogen

Lund says.

"Contrarily, Lendo has been supported by the reopening of the economies and

delivered strong underlying2 revenue growth of 21 percent while EBITDA decreased

due to increased marketing spend in Sweden and expansion investments," CEO

Kristin Skogen Lund says.

"Finally, our Ventures business had an eventful quarter with the listing of the

learning platform Albert on 01 October, and a good deal flow which included our

investment in Tibber, an energy company which empowers people by lowering their

energy bill and consumption," CEO Kristin Skogen Lund says.

This quarter's highlights

* Underlying1 revenue growth of 11 percent, strong EBITDA margin of 21 percent

* Nordic Marketplaces: 18 percent underlying1 revenue growth, primarily driven

by the Job vertical. Strong quarter for Norway with 33 percent revenue growth

and 54% EBITDA margin. Sweden and Finland with good development, while

Denmark had a soft quarter due to low inventory and high turnover in Motors.

* News Media: 7 percent underlying2 revenue growth thanks to strong digital

advertising sales and continued growth in subscriptions. EBITDA margin of 13

percent, somewhat lower than last year due growth investments and one-offs in

the same period last year.

* eCommerce & Distribution: 13 percent underlying2 revenue growth driven by

higher volumes for parcels and breakfast delivery. EBITDA declined

year-on-year due to step-fixed costs to expand our delivery capacity.

* Financial Services & Ventures: Strong underlying2 revenue growth of 21

percent in Lendo, while EBITDA declined as a result of increased marketing

spend in Sweden and expansion investments. Good deal flow and successful

listing of the learning platform Albert on 01 October. Prisjakt witnessed

lower activity and revenues year-on-year as societies reopened, strong EBITDA

margin of 32 percent.

| Third quarter | | Year to date |

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

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

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

Schibsted Group | | | | | |

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

Operating revenues | 3,667 | 3,188 | 15% | 10,687 | 9,287 | 15%

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

- of which digital | 2,461 | 1,971 | 25% | 6,922 | 5,648 | 23%

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

EBITDA | 769 | 678 | 13% | 2,106 | 1,461 | 44%

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EBITDA margin | 21% | 21% | | 20% | 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 27 October at 09:00 CET

CEO Kristin Skogen Lund and CFO Ragnar Kårhus will present the Q3 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://bit.ly/2Z7OgEj).

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

- http://sli.do; event code: 590604) or via this link

https://app.sli.do/event/p0pjujri. 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.

Press/media can reach out to Schibsted's Head of External Communications & Brand

Management, Nathalie Kåvin (nathalie.kavin@schibsted.com), to set up separate

one-on-one interviews with CEO Kristin Skogen Lund.

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

after the live webcast has ended.

Oslo, 27 October 2021

SCHIBSTED ASA

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

Marketplaces Denmark and Oikotie in Q3 2020

² 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

* Malin Langtvet, Investor Relations Officer, +47 916 86 710, ir@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/17847482/935/1235/Download%20announcement%

20as%20PDF.pdf

Interim Report Q3 2021.pdf -

https://kommunikasjon.ntb.no/ir-files/17847482/935/1232/Interim%20Report%20Q3%20

2021.pdf

Results presentation Q3 2021.pdf -

https://kommunikasjon.ntb.no/ir-files/17847482/935/1233/Results%20presentation%2

0Q3%202021.pdf

Financials and Analytical Info Q3 2021.pdf -

https://kommunikasjon.ntb.no/ir-files/17847482/935/1234/Financials%20and%20Analy

tical%20Info%20Q3%202021.pdf