Vend Marketplaces ASA

Earnings Release • Aug 13, 2010

Schibsted ASA (SCH) - Interim Financial Statement Q2 2010

Today Schibsted ASA (SCH) released its Q2 2010 report, which shows operating

revenues of NOK 3.52 billion, underlying a growth of 6 per cent compared to the

same period in 2009. Advertising revenues contributed with a growth of 15 per

cent. The operating profit (EBITA) in Q2 was NOK 509 million. This is the best

quarterly result ever for Schibsted.

- We are happy to be able to show such good results after 18 months in which all

of us have made a collective effort to turn every stone in order to strengthen

the company for the future. The results produced in the second quarter of 2010

shows that Schibsted is a solid company that is able to secure both good

development for our media houses and at the same time continued growth and high

profitability in our online classifieds operations, CEO of Schibsted Rolv Erik

Ryssdal says.

Ryssdal says that the Group's comprehensive profitability programme is the main

reason behind the profitability improvement.

- We carried out additional profitability measures of NOK 150 million in the

second quarter, bringing the total up to NOK 1.5 billion. This means that we are

slightly ahead of schedule; hence, we will be able to implement profitability

measures totaling NOK 1.7 billion by the end of 2011, Ryssdal states.

- We have also been helped by the advertising markets, which have leveled out or

expanded in most of our markets, Ryssdal says.

In Q2 2010 Schibsted's advertising revenues increased underlying by 15 per cent

compared to the same period in 2009. Circulation revenues decreased by 4 per

cent, mainly as a consequence of falling circulation volumes for single copy

sold tabloid newspapers.

- We are concerned about the decline in circulation volume for single copy sold

newspapers, VG and Aftonbladet in particular. We are also placing considerable

attention to the question of how to charge for digital content, since this will

be a reality anytime soon, Ryssdal says.

Highlights in Q2 2010

(Figures in brackets refer to the corresponding period in 2009.)

Record results in Q2

· In Q2 2010, the Group made an operating profit (EBITA) of NOK 509 million

(184 million) - Schibsted's best quarterly result ever.

· Operating margin (EBITA) of 14 per cent (6%).

· The improvement is due to continued online growth combined with the effect

of the Group's profitability programme and improvements in the Scandinavian

advertising markets.

· Underlying growth in operating revenues of 6 per cent.

· The underlying advertising revenues rose by 15 per cent compared to Q2

2009, driven by improvements in online operations and in most print categories

in Scandinavia.

· The Media Houses Scandinavia increased their underlying revenues by 3 per

cent in Q2. The margin increased from 2 to 7 per cent, driven by cost cuts and

stronger advertising markets.

· Schibsted continued with its profitability programme in Q2. The accumulated

effect of the measures is NOK 1.5 billion since 2008. The measures have taken

effect slightly more quickly than planned and the programme is expected to

produce a total effect of NOK 1.7 billion by the end of 2011.

Good growth and higher margins for Online Classifieds

· Schibsted's Online Classifieds business area achieved underlying growth in

operating revenues of 21 per cent in Q2. This growth came from both established

markets and the portfolio of newly established classified ads websites.

· Online Classifieds increased its operating margin (EBITA) from 21 to 30 per

cent in Q2.

Refinancing in place

· Schibsted has refinanced its loan portfolio and entered into new long-term

loan agreements with a total amount of EUR 500 million.

· The new facilities mean a much lower net interest margin compared to the

level during the past year.

Q2 Q2   1. half-year   Full yr.

2009 2010 (MNOK) 2010 2009 2009

2,996 3,515 Operating revenues    6,773    5,915   12,745

331 652 EBITDA 1,070 464 1,494

184 509 EBITA( 1))      775      181      832

(92) 963 Profit (loss) before taxes    1,214     (139)      279

3.57 6.87 Earnings per share (EPS)     8.32     2.86     4.74

0.48 3.44 Adjusted Earnings per share     4.84     1.17     4.42

(EPS)

Contact person:

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

Oslo, 13 August 2010

SCHIBSTED ASA

Jo Christian Steigedal

VP Investor Relations

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

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