Vend Marketplaces ASA

Earnings Release • May 7, 2014

Schibsted ASA (SCH) - Interim Financial Statement Q1 2014

Schibsted ASA (SCH) - Interim Financial Statement Q1 2014

Today, Schibsted Media Group released its Q1 2014 report, showing operating

revenues of NOK 3.71 billion. The Online classifieds segment increased its

revenues underlying with 14 percent, 19 percent excluding Spain. The gross

operating profit (EBITDA) was NOK 410 million (297 million). Excluding the

Online classifieds Investment phase, the EBITDA increased to NOK 551 million

from NOK 521 million in the corresponding quarter in 2013.

- I am satisfied with the Q1 2014 where our Online classifieds operations have

per-formed very well. Schibsted Sverige has improved considerably, not least as

a result of good development for the digital activities in Schibsted Growth. Our

Norwegian media house operations have faced an environment where print

advertising has declined at a higher pace than what we previously experienced.

This has resulted in a profit decline, CEO Rolv Erik Ryssdal says.

- The progress of our online classifieds sites is broad based. In Norway, Sweden

and France our revenues grow with double digit rates. In total, our online

classifieds revenues grew by 14 percent, underlying. This is satisfying in the

light of our decision to reduce monetization in Spain, Rolv Erik Ryssdal says.

- We continue to build traffic positions which will be a basis for long term

revenue growth, and in Q1 we invested NOK 141 million in Online classifieds New

Ventures. In addition, we invest in joint ventures and associated companies, of

which a significant part of the investments is made in Brazil, where we see very

strong traffic growth in the market, Rolv Erik Ryssdal says.

- In our media houses the transition to online proceeds at high speed. It is

particularly good to see that our three largest media houses VG, Aftenposten and

Aftonbladet all report fairly stable revenues and margins in Q1. This is a

result of strong online growth - both from advertising and subscription sales -

combined with a strict cost focus. In the period ahead, we will continue

developing our digital positions and at the same time adapt the cost base to the

market conditions. In this way we strengthen our ability to develop world class

digital media houses for the future, CEO Rolv Erik Ryssdal says.

Highlights of Q1 2014

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

figures are adjusted for currency effects and acquisitions and divestments.)

* Underlying growth for Online classifieds excluding Spain 19 percent. Total

underlying Online classifieds growth was 14 percent, whereas the underlying

growth for the Group overall was 2 percent.

* EBITDA of NOK 551 million (521 million) excluding investments in New

Ventures in Online classifieds. Total Group EBITDA NOK 410 million (297

million).

* Online classifieds EBITDA margin of 27 percent (18%), 40 percent (42%)

excluding investments in New Ventures

* Continued growth and high margins in Norway, Sweden and France

* Building future positions through investments in traffic growth across

the portfolio. Strong growth in key performance indicators like number

of new ads in the investment phase sites, including Brazil

* Focus on mobile product innovation

* Positioning Leboncoin.fr to capture the real estate potential in France.

* Acquisition of Milanuncios.com in Spain expected to be closed in Q2.

* Mixed development in Media houses.

* Strong online positions secure stable revenues and firm margins for VG

and Aftonbladet.

* Accelerated print advertising decline for subscription newspapers.

Further cost reduction measures under planning. Good development for

digital subscriptions

* Steady growth and margin improvement for personal finance services

Q1 Q1 FY

(MNOK) 2014 2013* 2013*

Operating revenues       3,710       3,587     14,870

Gross operating profit (EBITDA) 410 297 1,777

EBITDA margin 11 % 8 % 12 %

Gross operating profit (EBITDA) ex.

Investment phase         551         521       2,647

EBITDA margin ex. Investment phase 15 % 15 % 18 %

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Profit (loss) before taxes         101         107       1,490

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Adjusted Earnings per share (EPS)       (0.69)        0.55        3.90

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*) Restated figures

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

7 May 2014 at 09:00 CET. The presentation will be transmitted live as a video

webcast on www.schibsted.com/ir.

A conference call with Q&A linked to the Q1 2014 numbers will take place 7 May

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

International: +44(0)20 3364 5381

From Norway: 800 56054

Conference code: 7758387

Contact persons:

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

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

Oslo, 7 May 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#1783261]