Vend Marketplaces ASA

Earnings Release • May 11, 2016

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q1 2016

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q1 2016

Today, Schibsted Media Group released its Q1 2016 report. EBITDA ex. Investment

phase increased 25 percent to NOK 635 million.

"Schibsted Media Group has had a good start to 2016. Online Classifieds'

operating revenues continued to grow well", CEO Rolv Erik Ryssdal says.

"The operations in France and Spain have had a steady, high growth rate. The

strong traffic positions in those markets make it possible to grow revenues both

by introducing new services and through price optimization in the verticals",

Rolv Erik Ryssdal says.

"We continue to invest substantially in organic development of our online

classifieds operations. It is great to see firm evidence of return on

investments for example through the strong growth in traffic and engagement in

an important market like Brazil. We are also building a strong position in

Mexico, where our site Segundamano.mx is the leader in terms of traffic and

engagement", Rolv Erik Ryssdal says.

"In selected European markets, we continue our investments in the native mobile

market place Shpock. The service develops very well in significant markets like

UK and Germany", Rolv Erik Ryssdal says.

"The changes in consumer and advertiser behaviour continue to affect our media

houses in Norway and Sweden. A positive sign is the newspapers' number of

digital subscribers. Premium journalistic content presented in a modern way

across platforms appeals to a large number of consumers. However, the

advertising markets particularly in Norway are tough, and we need to constantly

adapt our cost base to the reduced revenues", Rolv Erik Ryssdal says.

"Our efforts to build global product and tech capabilities has continued with

full speed in Q1 2016. We have launched several new products, including

geographical ad targeting in Norway. Our roadmap for new products is ambitious

going forward, so we can continue to deliver improved products for consumers

within both online classifieds and media houses", Rolv Erik Ryssdal says.

Highlights of Q1 2016

(Figures in brackets refer to corresponding quarter in 2015.)

* EBITDA ex. Investment phase of NOK 635 million, a growth of 25 percent.

Reported EBITDA NOK 421 million (376 million). Total Online classifieds

EBITDA ex. Investment phase grew 37 percent to NOK 640 million.

* Continued solid revenue growth in Online Classifieds in Q1. France grew 19

percent and Spain grew 18 percent.

* Leboncoin.fr has signed direct contracts with 90 percent of customers of the

former bundle real estate package P3.

* Steady revenue growth and firm margins for Online Classifieds in

Scandinavia.

* 42 percent revenue growth in Other Developed Online Classifieds, driven by

good development in Italy, Austria and Ireland.

* Continued strong growth in key performance indicators in Investment phase

markets.

* 61 percent growth in revenues, adjusted for currency fluctuations

* 51 percent growth in number of visits per month in the Investment phase

portfolio in Q1.

* Strong momentum in mobile migration

* Shpock gains market shares in Germany and UK, excellent start in Italy.

Significant app updates in Q1.

* There is an increased uncertainty around the acquisition of Hemnet.

Schibsted expects a discussion with the Swedish Competition Authority

regarding potential commercially viable remedies.

* Continued investments in product and technology providing future operational

growth lever.

* Challenging market for media houses.

* Comprehensive cost measures under implementation

* Significant uptake of digital newspaper subscriptions

* Media House Sweden's online revenues grew 11 percent in Q1. Online now

represents 54 percent of total revenues.

* Profit before taxes NOK 219 million, down from NOK 846 million in Q1 2015.

Q1 2015 included gains of 740 million (compared to 24 in Q1 2016).

* Improved free cash flow.

Schibsted Media Group Q1 Q1 FY

(MNOK) 2016 2015 2015

Operating revenues 3,883 3,694 15,117

Gross operating profit (EBITDA) 421 376 2,016

EBITDA margin 11 % 10 % 13 %

Gross operating profit (EBITDA) ex. Investment phase 635 508 2,560

EBITDA margin ex. Investment phase 17 % 14 % 17 %

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

11 May 2016 at 09:00 CET. The presentation will be held in English and

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

A conference call with Q&A linked to the Q1 2016 numbers will take place 11 May

2016 at 14:00 CET. Please dial in at the following numbers:

Norway: 800 56054

UK: 020 3427 1905

USA: 1877 280 1254

International: +44(0)20 3427 1913

Conference ID is 1328764

Contact persons:

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

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

Oslo, 11 May 2016

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.

[HUG#2011458]