Vend Marketplaces ASA

Earnings Release • Feb 3, 2016

Schibsted ASA (SCHA/SCHB) - Impairment loss and Other income and expenses in Q4 2015

Schibsted ASA (SCHA/SCHB) - Impairment loss and Other income and expenses in Q4 2015

Schibsted Media Group's full year 2015 financial statement will be published 19

February 2016. Schibsted announces today that the regular impairment testing at

year end 2015 has resulted in an impairment loss related to intangible values of

NOK 465 million, which will be recorded in the Q4 2015 financial statement. This

is primarily driven by impairment loss related to the Group's subscription based

newspapers in Norway. Impairment losses are included in Operating profit (EBIT),

but do not affect Gross operating profit (EBITDA). The impairment testing has

resulted in no impairment loss for Schibsted's Online classifieds operations.

On a full year 2015 basis, the impairment loss will be more than offset by a

gain of NOK 858 million on remeasurement of previously held ownership in new

subsidiaries, primarily Shpock (Finderly), which was recorded in Q3 2015 and a

gain of a gain on sale of NOK 450 million related to Schibsted's agreement with

Naspers, Telenor and Singapore Press Holdings, recorded in Q1 2015.

The valuation of the Group's intangible assets is based on the value of expected

future cash flows. The background for the impairment is the negative development

over the last few years for print newspapers, and that the negative trend for

Schibsted's Norwegian subscription based newspapers has continued in 2015.

Digital revenues increased, but it is not sufficient to offset the decline in

revenues from print products. After the impairment, the total carrying amount of

Schibsted's subscription based newspapers in Norway is around NOK 1 billion, of

which around NOK 200 million is related to goodwill. Most of the value came into

Schibsted's balance sheet in connection with the consolidation of the

subscription newspaper market that was completed in 2009.

In the Q4 2015 results, Schibsted expects to book Other income and expenses of

approximately NOK -80 million. This is primarily affected by restructuring

provisions linked to Schibsted's continuous work on cost adaptions in the media

houses to align the cost base to the changes in the markets.

Contact persons:

Trond Berger, EVP CFO. Mobile: +47 916 86 695

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

Oslo, 3 February 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#1983262]