Vend Marketplaces ASA

Earnings Release • Jul 17, 2015

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q2 2015

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q2 2015

Today, Schibsted Media Group released its Q2 2015 report.

"Q2 2015 was a good quarter for Schibsted. Our Online classifieds operations

grew revenue by 16 percent and the gross operating profit increased by 32

percent. Over the last few quarters we have made significant steps forward when

it comes to organic growth, structural agreements and bolt on acquisitions. We

see potential for good value creation through in-market consolidation," CEO Rolv

Erik Ryssdal says.

"In Q2, our operations performed well in most markets. The development was

positive in European established markets like France, Norway and Sweden. Spain

was among the companies with the most noteworthy development, where the revenue

growth is accelerating and margins are recovering well. This is not only on the

back of the general economical improvements in the country, but also great

execution by our staff there," Rolv Erik Ryssdal says.

"During Q2 and so far in Q3, we have strengthened our positions in several

online classifieds markets through acquisitions and partnerships. In Ireland, we

have joined forces with Distilled Media, providing us with a leading position in

the Irish real estate market as well as a stronger leadership in generalist and

cars. In Mexico we have reinforced our leadership through the acquisition of

Anumex," Rolv Erik Ryssdal says.

"We are well equipped to continue to take part in consolidation in online

classifieds markets. The successful establishment of a B share class in Q2

significantly increases our room for maneuver in this respect," Rolv Erik

Ryssdal says.

"Within Media Houses, we see continued growth in online revenues for most of our

operations. However, the continued decline for print combined with the speed of

change in the online markets creates concerns regarding the media houses

profitability. Our competitors are increasingly global platforms, and we need to

stay focused on developing our services fast. High quality, independent

journalism is, and will remain, the fundament of our winning recipe," Rolv Erik

Ryssdal says.

"The advertising markets are in rapid development, and it is necessary to

continue to develop our product offerings. Data driven, highly targeted products

based on the technology platforms Schibsted is currently developing, is expected

to be launched later this year and in 2016," CEO Rolv Erik Ryssdal says.

Highlights of Q2 2015

(Figures in brackets refer to the corresponding period in 2014.)

* EBITDA of NOK 642 million, a growth of 12 percent.

* Online classifieds revenues grew by 16 percent, whereas the EBITDA grew 32

percent. EBITDA margin of 36 percent (32%); 45 percent (44%) excluding

investments in New Ventures.

* 15-20 percent online classifieds revenue medium to long term growth target

maintained

* 17 percent revenue growth in France in Q2, partly affected negatively by

public holidays.

* High margins and improved growth rate in Finn.no. Blocket.se saw a

stable revenue growth fuelled by new verticals.

* Accelerating revenue growth in Spain to 17 percent, and improved EBITDA

margins.

* Revenue growth in Italy of 38 percent. Continued strong trend from Q1,

and increased gap to main competitor.

* Strengthened positions in several markets through organic initiatives, joint

ventures and acquisitions.

* New, strong leader formed in Ireland through combination with Distilled

Media. Number one in real estate, generalist and cars.

* Leading position in Mexico strengthened by the acquisition of Anumex.

* Continued strong growth in key performance indicators in most markets

such as Brazil, Chile and Finland.

* 91 percent growth in number of visits in June in the portfolio outside

Europe.

* Continued good traction in Germany and UK for the mobile-only

classifieds app Shpock.

* Mixed development in Media houses.

* Continued overall growth in online revenues. Steady growth in

Aftonbladet, online revenue contraction in VG.

* Total circulation revenues for subscription newspapers in Norway were

flat, supported by online growth.

* Print advertising continue to decline. Continuous work on adapting cost

base.

* Steady growth and margin improvement for personal finance and price

comparison services.

* B shares established, providing flexibility to pursue value creative M&A.

* Process to establish new ownership for free newspapers, Schibsted Forlag and

Svenska Dagbladet. Reduced exposure to print media.

Q2 Q2     1 half-year FY

2014 2015  (MNOK) 2015 2014 2014

3,834 3,803 Operating revenues 7,497 7,544   14,975

574 642 Gross operating profit (EBITDA) 1,018 984 1,941

15 % 17 % EBITDA margin 14 % 13 % 13 %

711 740 Gross operating profit (EBITDA) ex. 1,242 1,262 2,444

Investment phase

19 % 20 % EBITDA margin ex. Investment phase 17 % 17 % 16 %

(216) (107) Share of profit (loss) of joint ventures 247 (418) (841)

and associated companies

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190   440 Profit (loss) before taxes   1,286   291   382

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

17 July 2015 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 Q2 2015 numbers will take place 17 July

2015 at 14:00 CET. Please dial in at the following numbers:

Norway: 800 56 053

UK: 0800 279 4841

USA: 1877 280 2296

International: +44(0)20 3427 1910

Conference ID is 6953830

Contact persons:

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

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

Anders Christian Rønning, Investor Relations Officer. Tel: +47 916 05 660

Oslo, 17 July 2015

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#1939441]