Schibsted ASA (SCHA/SCHB) - Interim Report Q4 2024

7.2.2025 07:00:00 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-handfeature in Microsoft Teams.

Microsoft Teams link:

https://teams.microsoft.com/l/meetup-join/19%3ameeting\_MmFjNmU1ZjgtMzBmMS00ZWU4LTljMDM%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, [email protected]
Kristine Eia Kirkholm, Director of Communication, +47 932 47 875, [email protected]
Malin Ebenfelt, Investor Relations Manager, +47 916 86 710, [email protected]

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