Vend Marketplaces ASA

Earnings Release • Oct 30, 2014

Schibsted ASA (SCH) - Interim Financial Statement Q3 2014

Schibsted ASA (SCH) - Interim Financial Statement Q3 2014

Today, Schibsted Media Group released its Q3 2014 report, showing operating

revenues of NOK 3.56 billion. The Online classifieds segment increased its

revenues underlying with 8 percent, 10 percent excluding Spain. The gross

operating profit (EBITDA) was NOK 504 million (463 million).

"In Schibsted, we continue to focus on long term growth, and we are spending

time and resources on strengthening our digital capabilities and develop our

technological fundament. In October, we published our first Future Report, where

we share some of the key trends that influence us and showcase some of the

exciting things going on in our group," CEO Rolv Erik Ryssdal says.

"In Q3, the growth in online revenues and traffic continued. 55 percent of

Schibsted's revenues came from online products, which is a growth from 48

percent in the same period last year," Rolv Erik Ryssdal says.

"Our Online classifieds operations have strengthened its market positions in the

important French market, and we see good results of our many changes and

improvements in Spain. At the same time we experience some headwind from the

markets in Norway. In particular, the decline in the recruitment market is

affecting the revenue growth rates there. I find it reassuring that Finn.no

maintain high profit margins and at the same time keep working on innovation and

development of the online market place of the future. This will ensure future

revenue growth," Rolv Erik Ryssdal says.

"Schibsted continues its program of organic investments in new markets. We see

strong growth in traffic across the portfolio, including markets like Brazil,

Chile and Indonesia. As these markets mature, we will build significant value in

these markets. Monetization is gradually being ramped up, and in Q3 the revenue

growth rate in the investment phase portfolio was close to 70 percent," Rolv

Erik Ryssdal says.

"Our Media Houses face significant challenges, as the print advertising market

continues to decline rapidly. Our job is to adapt the cost base to the market

development, and at the same time make sure we are at the forefront when it

comes to online product offerings. Consumers and advertisers are embracing the

changes we do, and it is encouraging to see that the subscription numbers for

our newspapers show a positive trend as a result of our digital products," CEO

Rolv Erik Ryssdal says.

Highlights of Q3 2014

(Figures in brackets refer to the corresponding period in 2013.)

* EBITDA of NOK 504 million (463 million). Excluding investments in New

Ventures in Online classifieds, the Group EBITDA was NOK 623 million (673

million).

* Online classifieds EBITDA margin of 32 percent (26%), 44 percent (47%)

excluding investments in New Ventures

* 20 percent revenue growth and stable margins in France. Real estate

monetization to be gradually ramped up.

* Strong growth in volume as a result of freemium strategy for Finn.no.

Revenue growth hampered by weak employment market in Norway.

* Improved macro and better traffic development in Spain creates platform

for revenue growth. The acquisition of Milanuncios is still being

processed by the competition authorities. Schibsted expects that the

acquisition will be cleared by the authorities during Q4 2014.

* InfoJobs.net in Spain returned to growth in Q3, as the macro environment

in Spain improves.

* Building valuable market positions through investments in traffic growth

in new markets. Strong growth in key performance indicators in most

markets, including Brazil. In Chile and Finland, our online classifieds

sites have gained a market leadership position.

* Continued good traction in Germany and UK for mobile only classifieds

app Shpock.

* The traffic development is strong in most sites in the portfolio.

* Mixed development in Media houses.

* Strong online positions and tight cost control secure overall revenue

growth and firm margins for VG and Aftonbladet. Mobile and web TV main

contributors to digital growth.

* Increased subscription revenues for morning newspapers as a result of

attractive digital products, which is offsetting some of the print

advertising decline.

* Accelerated print advertising decline. Continuous work on adapting cost

base to the development.

* Steady growth and margin improvement for personal finance services.

Q3 Q3     As of Q3 FY

2013* 2014  (MNOK) 2014 2013* 2013*

3,581 3,557 Operating revenues   11,101   11,038   14,870

463 504 Gross operating profit (EBITDA) 1,488 1,322 1,777

13 % 14 % EBITDA margin 13 % 12 % 12 %

Gross operating profit (EBITDA) ex.

673 623 Investment phase   1,885   1,975   2,647

19 % 18 % EBITDA margin ex. Investment phase 17 % 18 % 18 %

Share of profit (loss) of joint

(30)   (252) ventures and associated companies   (670)   (67)   (123)

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33   199 Profit (loss) before taxes   490   515   1,490

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

30 October 2014 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 Q3 2014 numbers will take place 30

October 2014 at 14:00 CET. Please dial in at the following numbers:

International: +44(0)20 3427 1905

From Norway: 800 56053

Conference code: 3958665

Contact persons:

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

Jo Christian Steigedal, VP Investor Relations. Tel: +47 415 08 733

Oslo, 30 October 2014

SCHIBSTED ASA

Jo Christian Steigedal

VP Investor Relations

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1866948]