Earnings Release • Feb 7, 2025
Earnings Release
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Schibsted ASA (SCHA/SCHB) - Interim Report Q4 2024
7.2.2025 07:00:01 CET | Schibsted | Half yearly financial reports and audit
reports / limited reviews
Today, Schibsted Marketplaces released its Q4 2024 results.
Concluding a transformative year, embracing our future as a pure-play
marketplaces company
"Q4 2024 marks the conclusion of what has been a truly transformative year for
Schibsted - and for me personally. This year, we did not just start a new
chapter; we began writing an entirely new book, embracing our evolution into a
pure-play marketplaces company and stepping away from our legacy as a media
conglomerate. Along the way, we have achieved remarkable milestones and
navigated significant transitions, all while continuing to empower millions of
users and customers across the Nordics to make smarter choices through our
marketplaces," CEO Christian Printzell Halvorsen says.
"In Q4, we finalised and presented our new strategy and financial framework at
the Capital Markets Day, setting a clear and ambitious path for our future. Our
strategy prioritises capturing the potential within our four core Verticals -
Mobility, Real Estate, Jobs, and Recommerce - by improving monetisation and
scaling our transactional models. At the same time, we are resetting our cost
base to align with our smaller, more focused scope. Together, these steps will
enable margin expansion in the years to come, supporting sustainable growth and
long-term value creation. Simplifying our portfolio is another critical part of
this transformation, allowing us to focus resources on areas with the greatest
potential," CEO Christian Printzell Halvorsen says.
"Group revenues for the quarter ended at NOK 2,103 million, representing a 12
per cent year-on-year increase on a constant currency basis, while Group EBITDA
improved by 3 per cent to NOK 337 million. Revenue growth was driven by Delivery
and Real Estate, while EBITDA growth was supported by the Headquarters segment
and Mobility. As anticipated, our performance was impacted by weaker
advertising, partly due to the separation from Schibsted Media and broader
macroeconomic factors, as well as lower ARPA in Real Estate in Norway.
Additionally, strategic decisions such as exiting our Jobs businesses in Sweden
and Finland and discontinuing select product offerings in Recommerce as part of
our simplification and focus agenda also influenced the quarter's results," CEO
Christian Printzell Halvorsen says.
"Our stake in Adevinta continues to develop positively. As communicated in
December, we expect to receive around NOK 500 million in cash proceeds from the
sale of assets from Adevinta in Q2 2025. The Board intends to distribute these
proceeds as a special cash dividend, reinforcing our commitment to a disciplined
capital allocation," CEO Christian Printzell Halvorsen says.
"Reflecting on 2024 as a whole, we delivered solid financial results despite the
major transformation and a demanding market environment. This resilience
highlights the strength of our business models, the dedication of our teams, and
the impact of the strategic choices we have made. I am looking forward to the
opportunities ahead of us; with implemented actions to drive monetisation in
2025 and the launch of our new brand "Vend" in Q2 2025, we are ready to lead the
future of marketplaces and continue empowering millions of users across the
Nordics," CEO Christian Printzell Halvorsen says.
This quarter's highlights
* Group: Revenues of NOK 2,103 million, up 12 per cent YoY on a constant
currency basis. EBITDA of NOK 337 million, up 3 per cent YoY.
* Mobility: 1 per cent revenue growth on a constant currency basis, with
Classifieds up 7* per cent primarily driven by ARPA, Transactional up 5* per
cent driven by AutoVex, while YoY decline in Advertising increased to 28* per
cent. EBITDA of NOK 278m, up 3 per cent YoY.
* Real Estate: 11 per cent revenue growth on a constant currency basis, driven
by ARPA and volume in Norway, and strong Transactional revenue growth. Higher
cost from investments in transactional models and accelerated marketing
efforts and product development in Finland. EBITDA of NOK 77m, down 3 per
cent YoY.
* Jobs: Revenues down 9 per cent on a constant currency basis due to Sweden and
Finland exits. Revenues in Norway grew 4 per cent driven by strong ARPA,
partly offset by volume decline. OPEX down YoY, while EBITDA decreased 9 per
cent YoY due to country exit effects.
* Recommerce: 7 per cent revenue growth on a constant currency basis, though
softer than previous quarters due to increased decline in advertising and
strategic product closures. OPEX excl. COGS down 4 per cent YoY, driven by
lower FTEs, while EBITDA decreased 13 per cent YoY due to revenues.
* Delivery: Increased volumes in Helthjem, combined with the acquisition of
Amedia Distribution led to a 41 per cent revenue growth. EBITDA ended at NOK
17 million, slightly down compared to last year due to higher costs.
* Ordinary dividend of NOK 2.25 per share proposed for 2024.
* The Board intends to distribute a special cash dividend of NOK 500 million
related to cash proceeds from Adevinta which are expected to be received in
Q2 2025.
*On a constant currency basis
| Fourth quarter | | | Full year |
----------------------------------------------------------------------------
(NOK million) | 2024 | 2023 | Change | | 2024 | 2023 | Change
----------------------------------------------------------------------------
Schibsted Group | | | | | | |
----------------------------------------------------------------------------
Operating revenues | 2,103 | 1,890 | 11% | | 8,325 | 7,617 | 9%
----------------------------------------------------------------------------
EBITDA | 337 | 327 | 3% | | 1,697 | 1,589 | 7%
----------------------------------------------------------------------------
EBITDA margin | 16% | 17% | | | 20% | 21% |
Alternative performance measures used in this release are described and
presented in the section Definitions and reconciliations in the quarterly
report.
Programme for the day, 7 February 2025:
07:00 CET
Publication of Schibsted Marketplaces' Q4 results including interim report,
presentation, and financials and analytical information.
09:00 CET
CEO Christian Printzell Halvorsen and CFO Per Christian Mørland will present
Schibsted Marketplaces' Q4 results as a virtual live webcast, followed by a Q&A
session. The presentation and following Q&A session will be held in English. The
webcast can be viewed live at:
https://channel.royalcast.com/landingpage/hegnarmedia/20250207_4/
For the Q&A at the end of the presentation, we invite analysts to ask questions
in a live format by using the raise-hand-feature in Microsoft Teams.
Microsoft Teams link:
https://teams.microsoft.com/l/meetup-join/19%3ameeting_MmFjNmU1ZjgtMzBmMS00ZWU4L
TljMDM%5B
Meeting-ID: 388 250 808 525
Password: cb23ok7V
Press/media can reach out to Kristine Eia Kirkholm (
[email protected]), Director of Communications, to set up
separate one-on-one interviews with Schibsted Marketplaces CEO Christian
Printzell Halvorsen.
A recording of the presentation will be available on our IR website shortly
after the live webcast has ended.
Oslo, 7 February 2025
SCHIBSTED ASA
DISCLOSURE REGULATION
This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.
CONTACTS
* Jann-Boje Meinecke, VP FP&A and Investor Relations, +47 941 00 835,
* Kristine Eia Kirkholm, Director of Communication, +47 932 47 875,
* Malin Ebenfelt, Investor Relations Manager, +47 916 86 710, [email protected]
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18413372/5592/Download%20announce
ment%20as%20PDF.pdf
Interim report Q4 2024.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18413372/5589/Interim%20report%20
Q4%202024.pdf
Results Presentation Q4 2024.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18413372/5590/Results%20Presentat
ion%20Q4%202024.pdf
Schibsted Financials and Analytical Info Q4 2024.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/18413372/5591/Schibsted%20Financi
als%20and%20Analytical%20Info%20Q4%202024.pdf
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