Vend Marketplaces ASA

Earnings Release • Feb 8, 2017

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q4 2016

Schibsted ASA (SCHA/SCHB) - Interim Financial Statement Q4 2016

Today, Schibsted Media Group released its Q4 2016 report. EBITDA ex. Investment

phase increased 9 percent to NOK 682 million.

"With a good Q4 2016 Schibsted concluded a year with steady progress according

to our strategic plan. We have continued to strengthen our position as a global

leader in Online classifieds and to build world class digital media houses based

on strong ecosystems in Scandinavia", CEO Rolv Erik Ryssdal says.

"In Online Classifieds, our strongest growth engine Leboncoin.fr has continued

to grow rapidly. Leboncoin.fr has during 2016 built a significant revenue base

in real estate, and initiated in Q4 monetization of the attractive recruitment

vertical. The results so far are promising. In the relatively mature

Scandinavian markets, the positive trends continued, whereas our operations in

Spain have during 2016 struggled to maintain the high growth rates from 2015",

Rolv Erik Ryssdal says.

"Within our Other Developed markets, Italy, Austria and Ireland, have seen

steady high growth rates during 2016. It is reassuring to conclude that they in

total have established themselves with positive EBITDA for the year as a whole",

Rolv Erik Ryssdal says.

"Our progress in Emerging markets continues, and it is good to see that the

revenue growth in Brazil accelerates. Our native market place app Shpock

continues to set new records in terms of downloads and user engagement", Rolv

Erik Ryssdal says.

"The publishing activities in our media houses produced improved EBITDA margins

in 2016 as a whole and in Q4. The decline in print advertising revenues is still

a great challenge. However, the innovative approach to our digital news products

result in increasing revenues from subscriptions", Rolv Erik Ryssdal says.

"I would like to highlight the progress of our operations in Schibsted Growth.

Over long time, this unit has grown steadily with increasing EBITDA margin.

During 2016, the effectiveness of the Lendo business model has become

particularly visible", Rolv Erik Ryssdal says.

"Schibsted's build-up of product and technology capabilities is essential in

order to build the foundation for profitable growth and value creation going

forward. Improved online classifieds components and platforms, tools to

streamline the editorial operations and our data driven advertising platform are

essential elements", CEO Rolv Erik Ryssdal says.

Highlights of Q4 2016

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

* EBITDA ex. Investment phase of NOK 682 million, a growth of 9 percent.

* Online classifieds pro forma revenue growth of 16 percent, adjusted for

currency fluctuations. Total Online classifieds EBITDA ex. Investment phase

grew 17 percent to NOK  618 million

* Continued positive high growth for Developed phase Online Classifieds

* 23 percent revenue growth and increased margins in France. Monetization

of the jobs vertical started in Q4 2016, and progresses as planned

* Sustained growth in Norway

* 9 percent revenue growth in Spain. Good trend in jobs and cars, whereas

real estate is sluggish, and display advertising continues to grow

slowly

* 22 percent revenue growth and positive EBITDA in Other Developed phase

operations, driven by continued good development in Italy, Austria and

Ireland

* Online Classifieds Investment phase continues positive trend

* Further revenue growth acceleration to 79 percent

* OLX Brazil progressing well with rapid revenue growth and reduced

expenses.

* Reduced EBITDA losses in emerging markets

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

app Shpock, reaching a total of 35 million app downloads

* Tight cost control leads to improved EBITDA margins in publishing

activities, even if advertising markets are challenging

* Strong inflow of digital subscribers

* Continued high growth rate in the Schibsted Growth portfolio in Sweden.

Personal finance portal Lendo.se grew revenues 53 percent and reached an

EBITDA margin of 53 percent in Q4 16

* The build-up of product and technology competence continues. Focus on

developing components for online classifieds verticals, next generation

generalist platform, advertising solutions and increased efficiency for

newsrooms

* Acquisition of MB Diffusion, the leading online classifieds market place for

agricultural and construction equipment in France closed in Q4. Acquisition

of Habitaclia, a rapid growing regional real estate portal in Spain acquired

in Q1 2017

* Dividend proposed at NOK 1.75 per share for 2016

Fourth

quarter Schibsted Media Group   Full year

2015 2016  (MNOK) 2016 2015

3,947 4,059 Operating revenues 15,854 15,117

442 501 Gross operating profit (EBITDA) 2,131 2,016

11 % 12 % EBITDA margin 13 % 13 %

Gross operating profit (EBITDA) ex. Investment

627 682 phase 2,904 2,560

16 % 17 % EBITDA margin ex. Investment phase 19 % 17 %

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

8 February 2017 at 09:00 CET. The presentation will be held in English and

transmitted live as a video webcast on www.schibsted.com/ir. CEO Rolv Erik

Ryssdal and EVP CFO Trond Berger will present at the analyst and press

conference.

A conference call with Q&A linked to the Q4 2016 numbers will take place 8

February 2017 at 14:00 CET. Please dial in at the following numbers:

Norway: 800 51084

UK: 0800 358 6377

USA: 800-347-6311

International: +44 (0)330 336 9412

Conference ID is 5190357.

Contact persons:

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

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

Oslo, 8 February 2017

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.