Vend Marketplaces ASA

Earnings Release • Nov 3, 2017

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q3 2017

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q3 2017

Today, Schibsted Media Group released its Q3 2017 report. Revenues grew 10

percent to NOK 4,161 million, whereas the EBITDA was NOK 783 million (572

million).

"We are happy to present a strong Q3 result for Schibsted, with an EBITDA

increase of 37 percent. As earlier this year, the growth is a result of

achievements in both Online classifieds, Publishing and Schibsted Growth," CEO

Rolv Erik Ryssdal says.

"In Online classifieds, the third quarter was evidence of the strength of the

online classifieds business model. With strong brands and market positions, the

earnings power is significant. Going forward, we aim to continue the good

development by taking further advantage of our competitive strengths - strong

local presence leveraged by joint, scalable product and tech platforms," CEO

Rolv Erik Ryssdal says.

"In Q3, we continued to see solid growth in the online classifieds verticals.

This was driven by product innovations, price optimizations and good market

conditions in most of our major operations. We have continued to decrease the

Investment phase losses. This is a result of strong growth in monetization in

emerging markets and very favorable operational metrics for Shpock, which has

reduced the need for marketing investments," Ryssdal says.

"The publishing activities in Schibsted continue to deliver impressing results.

For the first time in many years, they grew revenues compared to last year. We

are successful in signing up digital subscribers, and are approaching a total of

600,000. Once again, VG is the star performer among our publishing operations,

with a revenue growth of 7 percent and an EBITDA margin of 20 percent," Ryssdal

says.

"I would also like to highlight the great development of Schibsted Growth, and

in particular continued good growth for our personal finance business Lendo in

Sweden. Revenue growth accelerated to 55 percent in Q3, and EBITDA margins

exceeded 50 percent," Ryssdal says.

"In Q3 we announced an adjusted organizational structure, where Media and

Marketplaces will be organized in two separate divisions. At the same time

responsibility for most of our common product & tech initiatives will be moved

much closer to the operations. This will help us gain even more speed of

development and increasingly leverage our local competence and strong brands,"

CEO Rolv Erik Ryssdal says.

Highlights of Q3 2017

(Online classifieds pro forma numbers include proportional consolidation of

joint ventures and associates)

* EBITDA ex. Investment phase of NOK 903 million, a growth of 19 percent

* Online classifieds pro forma revenue growth of 22 percent, adjusted for

currency fluctuations. Total Online classifieds EBITDA ex. Investment phase

grew 19 percent to NOK 800 million

* Continued good development in Developed phase, Online Classifieds

* 23 percent revenue growth and increased margins in France, driven by

good growth in car and real estate, initiated monetization of jobs and

the acquisition of MB Diffusion

* 21 percent revenue growth in Norway driven by verticals and personal

finance

* 27 percent revenue growth in Spain. Strengthened trend in jobs and cars

* 2 percent revenue growth in Sweden affected positively by cars and jobs,

whereas display advertising and Services contributed negatively

* 80 percent revenue growth and significantly reduced losses in Investment

phase operations

* Continued revenue growth in OLX Brazil in Q3. Clear aim to reach break-

even during 2017

* Strong growth in operational metrics for Shpock. Investments reduced in

Q3 vs previous quarters

* Tight cost control and digital product innovation leads to improved EBITDA

margins in publishing activities

* Positive revenue growth in publishing operations in Q3

* Continued high growth rate in the Schibsted Growth portfolio in Sweden.

Personal finance portal Lendo.se grew revenues 50 percent

* New organizational model designed to strengthen local execution and global

scale. Operations to be streamlined and organized in two divisions;

Marketplaces and Media

Third

quarter Schibsted Media Group As of Q3 FY

2016 2017  (MNOK) 2017 2016 2016

3,798 4,161 Operating revenues 12,488 11,795 15,854

572 783 Gross operating profit (EBITDA) 1,911 1,630 2,131

15 % 19 % EBITDA margin 15 % 14 % 13 %

Gross operating profit (EBITDA) ex.

756 903 Investment phase 2,454 2,222 2,904

20 % 22 % EBITDA margin ex. Investment phase 20 % 19 % 19 %

Schibsted invites to an analyst and press conference at Apotekergata 10, Oslo,

3 November 2017 at 09:00 CET. The presentation will be held in English and

transmitted live as a video webcast on www.schibsted.com/ir. CEO Rolv Erik

Ryssdal and EVP CFO Trond Berger will present at the analyst and press

conference.

A conference call with Q&A linked to the Q3 2017 numbers will take place 3

November 2017 at 14:00 CET. Please dial in at the following numbers:

Norway: 800 51084

UK: 0800 279 7204

USA: 866-548-4713

International: +44 (0)330 336 9411

Conference ID is 8576955.

A recording of the conference call will be made available at

www.schibsted.com/ir.

Contact persons:

Trond Berger, CFO. Tel: +47 916 86 695

Jo Christian Steigedal, Head of IR. Tel: +47 415 08 733

Welcome to Investor Seminar 14 November

Please note that Schibsted will hold an investor seminar in Barcelona 14

November 2017 at 16:00. To sign up, click here: https://goo.gl/i8eh6w. For more

information please visit: www.schibsted.com/investorday2017

Oslo, 3 November 2017

SCHIBSTED ASA

Jo Christian Steigedal

Head of IR

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.