Vend Marketplaces ASA

Earnings Release • May 11, 2016

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q1 2016

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q1 2016

Today, Schibsted Media Group released its Q1 2016

report. EBITDA ex. Investment phase increased 25

percent to NOK 635 million.

"Schibsted Media Group has had a good start to 2016.

Online Classifieds' operating revenues continued to

grow well", CEO Rolv Erik Ryssdal says.

"The operations in France and Spain have had a steady,

high growth rate. The strong traffic positions in

those markets make it possible to grow revenues both

by introducing new services and through price

optimization in the verticals", Rolv Erik Ryssdal says.

"We continue to invest substantially in organic

development of our online classifieds operations. It

is great to see firm evidence of return on investments

for example through the strong growth in traffic and

engagement in an important market like Brazil. We are

also building a strong position in Mexico, where our

site Segundamano.mx is the leader in terms of traffic

and engagement", Rolv Erik Ryssdal says.

"In selected European markets, we continue our

investments in the native mobile market place Shpock.

The service develops very well in significant markets

like UK and Germany", Rolv Erik Ryssdal says.

"The changes in consumer and advertiser behaviour

continue to affect our media houses in Norway and

Sweden. A positive sign is the newspapers' number of

digital subscribers. Premium journalistic content

presented in a modern way across platforms appeals to

a large number of consumers. However, the advertising

markets particularly in Norway are tough, and we need

to constantly adapt our cost base to the reduced

revenues", Rolv Erik Ryssdal says.

"Our efforts to build global product and tech

capabilities has continued with full speed in Q1 2016.

We have launched several new products, including

geographical ad targeting in Norway. Our roadmap for

new products is ambitious going forward, so we can

continue to deliver improved products for consumers

within both online classifieds and media houses", Rolv

Erik Ryssdal says.

Highlights of Q1 2016

(Figures in brackets refer to corresponding quarter in

2015.)

EBITDA ex. Investment phase of NOK 635 million, a

growth of 25 percent. Reported EBITDA NOK 421 million

(376 million). Total Online classifieds EBITDA ex.

Investment phase grew 37 percent to NOK 640 million.

Continued solid revenue growth in Online Classifieds

in Q1. France grew 19 percent and Spain grew 18

percent.

Leboncoin.fr has signed direct contracts with 90

percent of customers of the former bundle real estate

package P3.

Steady revenue growth and firm margins for Online

Classifieds in Scandinavia.

42 percent revenue growth in Other Developed Online

Classifieds, driven by good development in Italy,

Austria and Ireland.

Continued strong growth in key performance indicators

in Investment phase markets.

61 percent growth in revenues, adjusted for currency

fluctuations

51 percent growth in number of visits per month in the

Investment phase portfolio in Q1.

Strong momentum in mobile migration

Shpock gains market shares in Germany and UK,

excellent start in Italy. Significant app updates in

Q1.

There is an increased uncertainty around the

acquisition of Hemnet. Schibsted expects a discussion

with the Swedish Competition Authority regarding

potential commercially viable remedies.

Continued investments in product and technology

providing future operational growth lever.

Challenging market for media houses.

Comprehensive cost measures under implementation

Significant uptake of digital newspaper subscriptions

Media House Sweden's online revenues grew 11 percent

in Q1. Online now represents 54 percent of total

revenues.

Profit before taxes NOK 219 million, down from NOK 846

million in Q1 2015. Q1 2015 included gains of 740

million (compared to 24 in Q1 2016).

Improved free cash flow.

Schibsted Media Group Q1 Q1 FY

(MNOK) 2016 2015 2015

Operating revenues 3,883 3,694 15,117

Gross operating profit (EBITDA) 421 376 2,016

EBITDA margin 11 % 10 % 13 %

Gross operating profit (EBITDA) ex. Investment phase

635 508 2,560

EBITDA margin ex. Investment phase 17 % 14 %

17 %

Schibsted invites to an analyst and press conference

at Apotekergaten 10, Oslo, 11 May 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 Q1 2016

numbers will take place 11 May 2016 at 14:00 CET.

Please dial in at the following numbers:

Norway: 800 56054

UK: 020 3427 1905

USA: 1877 280 1254

International: +44(0)20 3427 1913

Conference ID is 1328764

Contact persons:

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

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

Oslo, 11 May 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.