Vend Marketplaces ASA

Earnings Release • Jul 19, 2016

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q2 2016

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q2 2016

Today, Schibsted Media Group released its Q2 2016 report. EBITDA ex. Investment

phase increased 10 percent to NOK 831 million.

"We are happy to report another quarter where our Online Classifieds operations

grew well both in terms of revenue and gross operating profit. At the same time,

our Media Houses improved their profitability compared to the same quarter in

2015 in a challenging advertising market", CEO Rolv Erik Ryssdal says.

"Within online classifieds the operations in France and Spain continued the good

development, and the growth rate in Norway picked up in Q2. Leading traffic

positions provide the foundation to increase revenues backed by both increased

ad volumes, enhanced products and price optimization", Rolv Erik Ryssdal says.

"We continue to see positive development of our significant organic investments

aiming to build market positions in new areas. Our native mobile app Shpock is

developing rapidly in several European markets", Rolv Erik Ryssdal says.

"Schibsted is investing significant amounts in product and technology.

Technology for targeted advertising is one area of focus, and our new

advertising solutions are now being rolled across our portfolio. This will

enable Schibsted to take part in the expected growth in digital advertising

markets in the years to come", Rolv Erik Ryssdal says.

"Nevertheless, our newspapers in Norway and Sweden are facing negative revenue

development as print advertising continues to decline. Continuous cost adaptions

are necessary to maintain acceptable profitability. At the same time, it is

encouraging to see that the number of digital subscribers to the newspapers

continues to grow rapidly. Schibsted aims to be at the forefront when it comes

to presenting premium editorial content in a modern way, which appeals to

consumers", CEO Rolv Erik Ryssdal says.

Highlights of Q2 2016

(Figures in brackets refer to corresponding quarter in 2015.)

* EBITDA ex. Investment phase of NOK 831 million, a growth of 10 percent.

Total Online classifieds EBITDA ex. Investment phase grew 15 percent to NOK

722 million.

* Continued positive development for Developed phase Online Classifieds.

* Solid revenue growth and good margins in France and Spain.

* Sustained growth in Norway, continued strong momentum in Sweden.

* 37 percent revenue growth in Other Developed phase Online Classifieds,

driven by continued good development in Italy, Austria and Ireland.

* Online Classifieds Investment phase continues positive trend.

* 56 percent revenue growth.

* Reduced investment spend in emerging markets.

* Significant investments and rapid growth in UK and Germany for native

app Shpock.

* Challenging advertising markets, tight cost control in media houses.

* Strong inflow of digital subscribers.

* Improved margin level as a result of cost savings.

* Continued ramp up of product and technology competence, building platforms

for next generation online classifieds services, media houses and long term

growth in online advertising.

* Hemnet acquisition terminated by Schibsted because the Swedish Competition

Authority informed that the transaction in its current form will not be

cleared.

Second   1 half

quarter Schibsted Media Group year FY

2015 2016  (MNOK) 2016 2015 2015

3,803 4,114 Operating revenues 7,997 7,497 15,117

642 637 Gross operating profit (EBITDA) 1,058 1,018 2,016

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

Gross operating profit (EBITDA) ex. Investment

753 831 phase 1,466 1,261 2,560

20 % 21 % EBITDA margin ex. Investment phase 19 % 17 % 17 %

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

19 July 2016 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 2016 numbers will take place 19 July

2016 at 14:00 CET. Please dial in at the following numbers:

Norway: 800 56053

UK: 0800 279 4841

USA: 1877 280 2342

International: +44(0)20 3427 1904

Conference ID is 7079348

Contact persons:

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

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

Oslo, 19 July 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#2029194]