Vend Marketplaces ASA

Quarterly Report • Oct 28, 2020

Financials and analytical info as of Q3 2020

• 1. Profit loss statement
• 1. Balance sheet
• 1. Cash flow
• 1. Segment overview
• 1. Nordic Marketplaces
• 1. News Media
• 1. Financial Services
• 1. Growth

For details on Adevinta, please refer to Adevinta's reporting on adevinta.com/ir

For questions, please contact Schibsted IR:

Jann-Boje Meinecke, Head of IRir@schibsted.com Mobile: +47 941 00 835

Malin Langtvet, IR Officer ir@schibsted.com +47 916 86 710

schibsted.com/ir

NOK million

											SC HIB STE D G RO UP
1 qu arte r	2 q ter uar	3 q ter uar	4 q ter uar	1 qu arte r	2 q ter uar	3 q ter uar	4 q ter uar	1 qu arte r	2 q ter uar	3 q ter uar	CO ND ENS ED CO NSO LID AT ED	Yea r to date	Yea r to date	Full yea r	Full yea r
201 8	201 8	201 8	201 8	201 9	201 9	201 9	201 9	202 0	202 0	202 0	INC OM E S TAT EM ENT	202 0	201 9	201 9	201 8
ente d r re-p res	ente d r e-p res	ente d e-p res	ente d re-p res	ente re-p res	d r ente e-p res	d r ente e-p res	d r ente d r e-p res	ente e-p res	d r ent ed e-p res			ente re-p res	d r ente e-p res	d r ente d r e-p res	ente d e-p res
490	576	543	526	559	619	601	571	573	568	617	Cla ssif ied rev enu es	8 1,75	8 1,77	9 2,34	2,1 35
840	903	750	977	772	836	639	887	653	653	630	Adv ertis ing rev enu es	5 1,93	8 2,24	34 3,1	3,4 70
578	648	521	689	538	597	451	641	473	495	490	-of whi ch d igita l	9 1,45	6 1,58	27 2,2	2,43 5
642	639	653	664	679	677	701	703	689	717	737	Sub iptio scr n re ven ues	4 2,14	57 2,0	60 2,7	2,5 97
218	225	236	252	256	271	293	294	301	324	349	-of whi ch d igita l	974	819	13 1,1	931
374	377	375	355	333	340	355	330	306	315	331	Cas ual sale s	952	8 1,02	8 1,35	1,48 1
691	697	688	752	746	744	736	826	805	820	872	Oth er r eve nue s	98 2,4	26 2,2	52 3,0	2,8 28
3,03 7	3,19 1	08 3,0	75 3,2	89 3,0	16 3,2	32 3,0	16 3,3	6 3,02	73 3,0	88 3,1	Op ting era rev enu es	87 9,2	37 9,3	53 12,6	12,5 11
(10 2)	(10 1)	) (97	9) (10	2) (10	2) (10	1) (10	1) (11	) (93	0) (10	9) (10	Raw teri als and fin ishe d go ods ma	3) (30	5) (30	6) (41	(40 9)
(1,2 20)	(1,1 82)	46) (1,0	22) (1,2	32) (1,2	13) (1,2	78) (1,0	70) (1,2	21) (1,2	89) (1,1	30) (1,1	Per nel son exp ens es	40) (3,5	24) (3,5	93) (4,7	(4,6 71)
(1,3 79)	(1,3 90)	54) (1,3	68) (1,4	37) (1,3	43) (1,3	11) (1,3	76) (1,4	27) (1,4	86) (1,2	71) (1,2	Oth atin er o per g ex pen ses	84) (3,9	91) (3,9	67) (5,4	(5,5 90)
336	518	511	476	418	557	542	460	285	498	678	Gro rati fit ( los s) - EB ITD A ss ope ng pro	1 1,46	17 1,5	1,97 7	1,84 0
(11 3)	(11 6)	1) (12	8) (12	8) (20	8) (20	6) (19	1) (20	3) (19	9) (19	8) (21	Dep iatio d a rtisa tion rec n an mo	1) (61	2) (61	3) (81	(47 8)
(9)	5	(7)	6	) (19	) (18	(8)	) (13	) (30	(4)	2	Sha f pr ofit (los s) o f joi d as iate nt v ent re o ure s an soc s	) (32	) (45	) (58	(6)
(3)	(41 )	(0)	9) (14	(9)	(0)	(0)	) (26	(0)	) (13	(7)	Imp airm ent loss	) (20	(9)	) (35	(19 3)
(4)	(1)	) (12	24	) (14	) (38	) (47	) (51	55	4	) (95	Oth er i and nco me ex pen ses	) (36	) (99	1) (15	6
205	366	371	228	168	293	290	168	117	285	360	Op ting fit ( los s) era pro	762	751	920	1,17 0
35	43	35	35	33	18	22	19	16	7	14	Fina ncia l inc om e	27	47	89	119
(25	) (26 )	) (29	) (45	) (43	) (45	) (47	) (48	) (56	) (53	) (52	Fina ncia l ex pen se	2) (15	9) (10	9) (17	(96 )
215	382	377	218	158	266	266	139	77	239	321	Pro fit ( los s) b efo re t s fr ntin uin atio axe om co g o per ns	637	690	829	1,19 2
(79 137	) (12 4) 259	7) (10 270	) (66 152	) (59 99	) (86 180	) (77 189	) (53 86	) (28 48	264 503	) (59 262	Tax es fit/l fro Pro inu tion	177 814	2) (22 468	5) (27 554	(37 6) 817
											ont ing oss m c op era s
32	57	159	0) (35	221	173	213	35	4) (43	) (34	9) (20	Pro fit/lo fter tax fro m d isco ntin ued tion ss a op era s	7) (67	607	642	(10 1)
169	315	429	9) (19	320	353	402	121	5) (38	469	53	Pro fit ( los s)	137	1,07 5	6 1,19	715
											Pro fit ( los s) a ttri but abl e to :
11	20	19	18	19	83	109	36	1) (17	(1)	) (58	Non lling inte ntro rest -co s	1) (23	211	247	68
158	295	410	6) (21	300	271	292	85	4) (21	471	112	Ow s of the t ner pa ren	368	863	949	648
											Ear nin sh (N OK ) gs per are
0.6 7	1.24	1.72	1) (0.9	1.26	1.14	1.23	0.36	1) (0.9	1 2.0	8 0.4	Bas ic	1.58	3 3.6	0 4.0	2.7 2
0.66	1.24	1.72	1) (0.9	1.26	1.13	1.23	0.36	1) (0.9	1 2.0	8 0.4	Dilu ted	1.58	3.62	9 3.9	2.7 2
0.72	1.76	1.74	1.84	1.42	1.40	1.43	1.36	1) (1.1	3 2.0	1.60	Bas ic - adju sted	2.52	4 4.2	9 5.5	6.0 5
0.72	1.76	1.74	1.84	1 1.4	1.40	1.43	1.36	1) (1.1	3 2.0	1.60	Dilu ted - ad just ed	1 2.5	4 4.2	8 5.5	6.0 5

N O K i l l ion m
C O S C O S O N D E N E D N L I D A T E D S T A T E M E N T O F F I N A N C I A L P O S I T I O N	3 1. 0 3 2 0 1 8	3 0. 0 6 2 0 1 8	3 0. 0 9 2 0 1 8	3 1. 1 2 2 0 1 8	3 1. 0 3 2 0 1 9	3 0. 0 6 2 0 1 9	3 0. 0 9 2 0 1 9	3 1. 1 2 2 0 1 9	3 1. 0 3 2 0 2 0	3 0. 0 6 2 0 2 0	3 0. 0 9 2 0 2 0
In tan i b le ts g as se	7 1 6, 6 3	4 1 6, 2 8	3 1 6, 3 0	1 1 6, 5 2	7 1 6, 2 8	9 1 6, 4 5	8 1 6, 7 4	9 1 7, 3 6	3 1 9, 7 7	4 1 9, 0 1	6, 1 5 3
Pr ty, lan t a d e ip t a d inv tm t p ty op er p n q u me n n es en rop er	8 9 3	5 8 8	5 8 5	0 8 7	5 8 4	6 8 6	7 8 5	9 8 4	9 8 6	5 7 4	4 9 2
R ig h f-u t-o ts se as se	-	-	-	-	9 1, 8 7	4 1, 6 7	4 2, 3 7	2, 3 1 7	4 2, 8 9	2, 3 5 7	1, 6 4 1
Inv in j in d a ia tm ts t v tur tes es en o en es an ss oc	5 4, 2 8	7 3, 9 4	7 3, 8 2	8 4, 2 4	7 4, 4 0	3 4, 4 2	0 4, 4 7	9 4, 5 2	0 4, 3 4	2 4, 0 6	9 0 6
De fer d tax ts re as se	2 2 5	4 2 5	2 2 6	3 2 3	4 2 6	8 2 1	4 2 7	9 1 7	4 2 3	8 5 8	7 0 2
O t he t a ts r n on -cu rre n ss e	6 1 1	9 1 1	8 1 1	1 1 3	4 1 5	6 1 6	2 1 8	1 2 4	6 3 4	4 3 4	8 8
No t a ts n-c ur re n ss e	8 2 2, 2 2	8 2 1, 4 8	5 2 1, 3 6	3 2 2, 0 0	6 2 3, 7 4	7 2 3, 8 9	4 2 4, 9 0	3 2 5, 4 8	6 2 8, 4 5	9 2 7, 4 8	9, 9 8 1
Tr de iva b les d o t he t a ts a re ce an r c urr en ss e	2 2, 9 6	6 2, 9 1	4 2, 9 7	8 3, 4 7	5 3, 0 1	0 3, 2 4	7 3, 0 6	1 3, 2 7	4 3, 4 2	3 3, 3 7	2, 0 1 7
Ca h a d c h e iva len ts s n as q u	5 1, 8 0	8 1, 6 8	4 1, 9 7	4 1, 8 4	7 7 2	8 4, 5 7	3 4, 4 0	6 3, 8 6	7 3, 9 7	2 6, 2 8	1, 0 2 1
for As ts he l d le se sa	-	-	-	-	-	-	-	7 1 5	-	-	2 5, 1 8 4
Cu t a ts rre n ss e	4, 6 7 7	4 4, 6 0	8 4, 9 4	2 3 2 5,	3 3, 4 7	8 8 1 7,	0 4 7, 7	4 2 9 7,	1 4 0 7,	9, 6 5 5	2 8, 2 2 2
To l a ta ts ss e	2 6, 9 9 5	2 2 6, 0 9	3 2 6, 3 1	2 3 2 5 7,	9 2 4 8 7,	3 1, 1 5 7	4 3 2, 3 7	8 3 2, 7 7	3 8 7 5, 5	4 3 1 4 7,	3 8, 2 0 4
Pa i d- in i ty eq u	5 6, 9 0	9 6, 9 1	4 6, 9 2	7 6, 9 2	4 6, 9 2	1 6, 9 4	8 6, 9 4	9 6, 9 6	3 6, 9 9	0 6, 9 9	7, 0 1 1
O t he i ty r e q u	2 7, 4 9	1 6, 8 1	5 7, 0 6	4 7, 4 8	1 7, 2 5	2 4, 1 8	7 3, 7 3	9 3, 5 2	0 3, 8 2	6 3, 6 9	3, 7 3 8
f Eq i ty t tr i bu ta b le to t he t u a ow ne rs o p ar en	1 4, 3 9 7	0 1 3, 3 7	9 1 3, 9 8	2 1 4, 4 1	1 4, 1 5 7	3 1 1, 1 2	1 0, 6 8 5	8 1 0, 4 9	3 1 0, 8 1	6 1 0, 6 8	1 0, 4 9 7
No l l ing in tro ter ts n-c on es	8 2 7	2 2 7	0 2 5	2 2 6	2 2 7	8 6, 2 0	7 6, 3 6	3 6, 3 8	7 6, 8 8	2 6, 4 0	6, 1 1 1
Eq i ty u	5 1 4, 6 7	1 1 4, 0 0	0 1 4, 2 4	3 1 4, 6 7	7 1 4, 4 4	1 1 7, 3 3	2 1 7, 0 5	2 1 6, 8 8	0 1 7, 7 0	8 1 7, 0 8	1 6, 8 6 0
fer De d tax l ia b i l i t ies re	6 8 5	8 8 3	6 8 1	1 9 0	4 8 8	8 8 3	2 8 5	4 9 4	8 1, 0 7	0 1, 0 2	3 3 5
Pe ion l ia b i l i ies t ns	4 1, 2 9	1, 2 9 7	3 1, 3 4	1 1, 2 4	1, 1 5 7	0 1, 1 9	8 1, 4 3	1, 0 9 5	6 1, 3 5	0 1, 4 5	1, 2 3 5
No in be ing bo ing t ter t- n-c urr en es ar rro w s	6 3, 9 0	5 3, 8 5	2 3, 8 5	7 3, 8 3	0 3, 8 3	6 4, 2 4	6 4, 2 8	9 4, 7 2	8 4, 9 5	7 5, 2 9	3, 1 3 9
No t lea l ia b i l i t ies n-c urr en se	-	-	-	-	4 1, 6 4	7 1, 6 0	2 2, 2 6	2 2, 1 9	0 2, 7 5	9 2, 5 7	1, 5 5 0
O t he t l ia b i l i t ies r n on -cu rre n	4 2 8	1 2 4	8 2 3	2 2 4	8 3 1	3 3 7	7 3 6	5 3 5	1 5 2	1 4 1	2 9 0
No t l ia b i l i t ies n-c ur re n	0 6, 3 4	1 6, 2 3	9 6, 2 4	2 6, 2 2	1 7, 8 5	5 8, 2 5	4 9, 2 0	4 9, 3 1	4 1 0, 6 6	7 1 0, 7 5	6, 5 5 0
Cu in be ing bo ing t ter t- rre n es ar rro w s	8 3 2	6 3 6	1 3 6	9 3 8	8 8	9 1, 0 7	0 1, 0 8	9 1, 0 8	2 1, 1 0	3 3, 1 3	6 9 3
Inc tax b le om e p ay a	7 5 6	9 5 5	3 6 7	1 3 8	0 3 1	5 2 4	4 3 3	4 2 3	4 1 8	5 1 1	2 3 5
Cu t lea l ia b i l i t ies rre n se	-	-	-	-	8 3 8	1 4 0	6 3 5	2 3 5	6 4 2	6 4 4	2 7 5
O t he t l ia b i l i t ies r c urr en	0 8 4 5,	9 3 4 4,	1 9 4, 7	0 6 6 5,	6 0 4, 4	0 4 4, 4	8 3 4, 4	9 6 4, 7	0 8 5, 7	6 0 5 5,	2, 8 6 4
L ia b i l i ies he l d for le t sa	-	-	-	-	-	-	-	8 1 3	-	-	1 0, 2 7 7
Cu t l ia b i l i t ies rre n	0 5, 9 8	0 5, 8 6	5 5, 8 2	0 6, 4 3	1 5, 1 9	8 6, 1 2	8 6, 1 1	2 6, 5 8	2 7, 4 9	9 9, 2 9	1 4, 7 9 3
To ta l e i ty d l ia b i l i t ies q an u	5 2 6, 9 9	2 2 6, 0 9	3 2 6, 3 1	5 2 7, 3 2	9 2 7, 4 8	5 3 1, 7 1	4 3 2, 3 7	8 3 2, 7 7	7 3 5, 8 5	4 3 7, 1 4	3 8, 2 0 4

NO K m illio n
C O S C O S O N D E N E D N L I D A T E D S T A T E M E N T O F C A S H F L O W S	31. 03 201 8	30. 06 201 8	30. 09 201 8	31. 12 201 8	31. 03 201 9	30. 06 201 9	30. 09 201 9	31. 12 201 9	31. 03 202 0	30. 06 202 0	30. 09 202 0
Pro fit ( los s) bef fro inu ing tion tax ont ore es m c op era s	215	597	974	192 1,	158	424	690	829	77	316	637
Pro fit ( los s) bef tax fro m d isc ont inu ed rati ore es ope ons	174	384	660	489	356	657	031 1,	119 1,	) ( 308	) ( 247	( 272 )
De cia tion isa tion d im irm los ort ent pre , am an pa ses	177	477	658	479 1,	328	636	932	537 1,	335	710	968
t ef fec Ne t pe nsi liab ilitie on s	( 70)	( 66)	54) (	90) (	65) (	51) (	56) (	84) (	46) (	42) (	( 28)
Sh of los s (p rofi t) o f jo int ture nd oci ate et o f di vid end cei ved are ven s a ass s, n s re	6	1	15	20) (	21) (	62	72	40	27	9	40
Tax id es pa	( 194 )	( 41 1)	) ( 599	) ( 941	) ( 301	) ( 597	) ( 779	) ( 978	) ( 159	) ( 333	( 522 )
Sa (g s) n (g s) les los ain t as set nd oth sh los ain ses on- cur ren s a er non -ca ses	7) (	7) (	20) (	23) (	1	2	2) (	1) (	66) (	) ( 124	( ) 138
No ash ite d c han in w ork ing ital d p isio n-c ms an ge ca p an rov ns	33	90) (	) ( 184	) ( 304	323	132	196	382	678	717	974
Ne sh flo w f tin ctiv itie t ca rom op era g a s	335	885	451 1,	781 1,	778	265 1,	085 2,	844 2,	538	005 1,	1, 659
- of wh ich fro m d isc ont inu ed rati ope ons					502	683	047 1,	312 1,	440	587	948
- of wh ich fro ont inu ing tion m c op era s					276	582	038 1,	532 1,	98	418	711
Ne t ca sh flo w f inv est ing tiv itie rom ac s	) ( 158	) ( 370	) ( 596	) ( 953	) ( 491	) ( 867	) ( 1, 144	) ( 2, 244	) ( 366	) ( 708	( 2, 947 )
- of wh ich fro m d isc inu ed rati ont ope ons					( 157 )	( 392 )	) ( 506	) ( 1, 356	1) ( 20	) ( 360	( 474 )
- of fro wh ich ont inu ing tion m c op era s					( ) 334	( ) 475	) ( 638	) ( 888	) ( 165	) ( 348	( ) 2, 473
Ne sh flo w f fin ing tiv itie t ca rom anc ac s	15	) ( 436	) ( 477	) ( 608	) ( 1, 387	352 2,	626 1,	429 1,	) ( 201	121 2,	2, 022
- of wh ich fro m d isc ont inu ed rati ope ons					( 363 )	( 195 )	) ( 223	210	46) (	440 2,	2, 413
- of wh ich fro ont inu ing tion m c op era s					( 1, 024 )	2, 547	849 1,	219 1,	) ( 155	) ( 319	( 39 1)
Eff ect of han rate ch h a nd h e iva len ts exc ge ang es on cas cas qu	13) (	18) (	30) (	2) (	16) (	16) (	7) (	7) (	140	2) (	67
Ne t in ( dec se) in h a nd h e iva len ts cre ase rea cas cas qu	179	62	348	218	) ( 1, 116	734 2,	560 2,	022 2,	111	417 2,	801
Ca of p sh and sh iva len ts a t st art erio d ca equ	1, 626	1, 626	626 1,	626 1,	844 1,	844 1,	844 1,	844 1,	866 3,	866 3,	3, 866
Ca sh and sh uiv ale end of rio d nts at ca eq pe	805 1,	688 1,	974 1,	844 1,	727	578 4,	403 4,	866 3,	977 3,	282 6,	4, 666
- of wh ich sh and sh iva len ts i ts h eld for le ca ca equ n a sse sa					-	-	-	-	-	-	3, 645
- of wh ich sh and sh iva len ts e xcl udi ets he ld f ale ca ca equ ng ass or s					727	4, 578	403 4,	866 3,	977 3,	282 6,	1, 021

In the first three quarters of 2020, Non-cash items and change in working capital and provisions include net unrealised loss of NOK 842 million on derivatives hedging the foreign currency exposure of the commitment of Adevinta mainly related to the Grupo Zap acquisition.

NO K m illio n
1 q ter uar	2 q ter uar	3 q ter uar	4 q ter uar	1 q ter uar	2 q ter uar	3 q ter uar	4 q ter uar	1 q ter uar	2 q ter uar	3 q ter uar		Yea r to da te	Yea r to da te	Full ye ar	Full ye ar
201 8	201 8	201 8	201 8	201 9	201 9	201 9	201 9	202 0	202 0	202 0	SC HIB STE D G RO UP	202 0	201 9	201 9	201 8
tate d res	tate d res	tate d res	tate d res	tate d res	tate d res	tate d res	tate d res							tate d res	tate d res
											Op ting era rev enu es
651	771	707	714	722	813	769	758	743	753	827	Nor dic Ma rke tpla ces	24 2,3	04 2,3	62 3,0	2,8 43
1,89 7	1,95 7	4 1,83	45 2,0	5 1,85	11 1,9	4 1,75	4 1,94	7 1,75	9 1,78	1 1,79	New s M edia	37 5,3	21 5,5	65 7,4	7,7 33
255	246	261	249	273	245	275	260	293	252	289	Fina ncia l Se rvic es	834	794	4 1,05	1,0 11
479	481	463	542	503	510	517	635	563	623	616	Gro wth	1 1,80	0 1,53	65 2,1	1,96 6
123	124	120	125	141	151	143	143	167	177	162	Oth er/H ead rter qua s	507	435	579	493
(36 8)	(38 9)	8) (37	1) (40	5) (40	5) (41	7) (42	4) (42	6) (49	1) (52	8) (49	Elim inat ions	15) (1,5	48) (1,2	72) (1,6	(1,5 35)
3,0 37	3,1 91	08 3,0	3,2 75	89 3,0	16 3,2	32 3,0	16 3,3	26 3,0	73 3,0	88 3,1	Sch Gr ibs ted oup	87 9,2	37 9,3	653 12,	12, 511
											EB ITD A
251	345	329	280	307	374	373	306	298	341	356	Nor dic Ma rke tpla ces	995	4 1,05	0 1,36	1,20 5
84	143	156	189	120	198	165	149	39	149	266	New s M edia	453	484	633	571
90	85	88	63	57	29	51	33	38	31	86	Fina ncia l Se rvic es	154	137	169	325
5	24	16	29	6	21	16	55	) (21	32	40	Gro wth	51	43	98	73
(94 )	(79 )	) (78	) (84	) (71	) (66	) (63	) (83	) (69	) (54	) (69	Oth er/H ead rter qua s	2) (19	0) (20	4) (28	(33 5)
336	518	511	476	418	557	542	460	285	498	678	Sch Gr ibs ted oup	61 1,4	17 1,5	77 1,9	1,84 0

Nor dic Mar ketp lace tal s to Clas sifie 493 579 546 529 559 619 601 571 574 568 617 ds r 9 1,75 9 1,77 0 2,35 2,14 7 eve nue s 108 123 100 124 100 125 106 126 101 106 110 Adv ertis ing 317 331 457 454 reve nue s 50 70 61 61 62 69 62 61 68 79 100 Oth 247 193 254 242 er re ven ues 651 771 707 714 722 813 769 758 743 753 827 Ope rati 4 2,32 4 2,30 2 3,06 2,84 3 ng r eve nue s 3% 7% 3% 7% 11% 5% 9% 6% 3% -7% 8% YOY owt h 1% 8% 8% 5% rev enu e gr (400 ) (426 ) ) (377 ) (434 ) (415 ) (439 ) (396 ) (452 ) (445 ) (412 ) (471 Ope ratin 28) (1,3 50) (1,2 02) (1,7 (1,6 38) g ex pen ses 251 345 329 280 307 374 373 306 298 341 356 EBI TDA 995 1,05 4 0 1,36 1,20 5 39% 45% 47% 39% 43% 46% 48% 40% 40% 45% 43% EBIT DA- gin 43% 46% 44% 42% mar Mar ketp lace s N orw ay 315 382 358 348 378 419 398 367 366 346 359 Clas sifie ds r 0 1,07 5 1,19 2 1,56 1,40 2 eve nue s 48 55 42 55 43 55 48 62 50 49 45 Adv ertis ing 144 146 209 200 reve nue s 46 66 56 57 60 66 59 57 65 75 83 Oth 222 184 241 225 er re ven ues 408 503 456 459 480 540 505 486 480 469 486 Ope rati 6 1,43 1,52 2 2,01 1,82 6 5 ng r eve nue s 4% 16% 11% 17% 18% 7% 11% 6% 0% -13% -4% YOY -6% 12% 10% 12% owt h rev enu e gr (236 ) (268 ) ) (236 ) (273 ) (258 ) (269 ) (238 ) (265 ) (270 ) (225 ) (256 Ope ) (750 ) (766 30) (1,0 (1,0 13) ratin g ex pen ses 172 235 220 186 222 271 266 222 211 244 230 EBI TDA 685 760 981 813 42% 47% 48% 41% 46% 50% 53% 46% 44% 52% 47% EBIT DA- gin 48% 50% 49% 45% mar Mar ketp lace s Sw ede n 174 192 181 175 174 191 193 195 197 212 212 Clas sifie ds r 621 558 753 721 eve nue s 44 49 43 51 42 51 43 50 38 44 46 Adv ertis ing 128 136 186 187 reve nue s 4 4 6 4 2 3 3 3 3 5 6 Oth 14 8 12 17 er re ven ues 221 244 230 230 218 245 240 248 239 261 263 Ope rati 763 702 951 925 ng r eve nue s -3% -9% -10% -8% -1% 0% 4% 8% 10% 7% 10% YOY owt h 9% 1% 3% -8% rev enu e gr (119 ) (116 ) ) (100 ) (120 ) (118 ) (129 ) (122 ) (148 ) (139 ) (151 ) (139 Ope ratin ) (428 ) (369 ) (518 (456 ) g ex pen ses 101 128 130 110 100 115 118 100 100 110 125 EBI TDA 335 333 433 469 46% 53% 56% 48% 46% 47% 49% 40% 42% 42% 47% EBIT DA- gin 44% 47% 46% 51% mar Mar ketp lace s Fi nlan d Clas sifie 5 5 6 6 7 9 10 10 11 11 47 ds r 69 26 36 22 eve nue s 16 19 14 18 15 19 15 14 13 13 20 Adv ertis ing 45 49 63 67 reve nue s 1 1 0 1 0 0 1 12 Oth 13 2 1 1 er re ven ues - - - 22 25 21 24 23 29 25 23 24 24 79 Ope rati 127 77 100 92 ng r eve nue s 85% 32% 16% 6% 7% 15% 20% -4% 4% -16% 216 % YOY owt h 66% 14% 27% 28% rev enu e gr (23) (24) (21) (23) (23) (25) (22) (22) (20) (24) (64) Ope ratin ) (108 (70) (92) (91) g ex pen ses (2) 1 0 1 (0) 3 3 1 4 0 15 EBI TDA 19 6 8 1 -7% 5% 0% 6% 0% 12% 11% 6% 15% 1% 19% EBIT DA- gin 15% 8% 8% 1% mar Oth er N ord ic M arke tpla (1) ces (0) (0) (0) (0) (0) (1) (1) Ope rati s/el imin atio (2) (1) (1) ng r eve nue ns - - - - - (21) (20) (20) (17) (16) (15) (14) (17) (16) (13) (12) Ope ratin (42) (44) (62) (78) g ex pen ses (21) (20) (20) (17) (16) (15) (14) (17) (16) (14) (14) EBI TDA (44) (45) (62) (78)	NOK mil lion 1 qu arte r 201 8 rest ated	2 qu arte r 201 8 rest ated	3 qu arte r 201 8 rest ated	4 qu arte r 201 8 rest ated	1 qu arte r 201 9 rest ated	2 qu arte r 201 9 rest ated	3 qu arte r 201 9 rest ated	4 qu arte r 201 9 rest ated	1 qu arte r 202 0	2 qu arte r 202 0	3 qu arte r 202 0	Nor dic Mar ketp lace s	Yea r to date 202 0	Yea r to date 201 9	Full yea r 201 9 rest ated	Full yea r 201 8 rest ated

(1) Other Nordic Marketplaces include Shpock Norway/Sweden, SPT cost allocation and eliminations

0.96 6	0.92 5	0 0.92	4 0.93	5 0.93	5 0.91	4 0.92	8 0.94	9 0.97	4 1.03	1.03 0	SEK /NO K	1.01 4	0.92 5	1 0.93	0.93 6
9.63 2	9.55 4	8 9.57	4 9.63	2 9.74	6 9.71	1 9.85	92 10.0	52 10.4	20 11.0	10.6 70	EUR /NO K	10.7 14	9.77 0	0 9.85	9.59 9
											Mar ketp lace s Sw ede n in SE K
180	207	197	188	187	208	209	206	202	205	206	Clas sifie ds r eve nue s	612	604	810	771
46	53	47	55	45	56	47	52	39	43	44	Adv ertis ing reve nue s	126	147	200	199
4	4	6	5	3	3	4	4	4	4	6	Oth er re ven ues	14	9	13	17
229	264	250	246	233	267	260	262	244	252	256	Ope rati ng r eve nue s	752	760	2 1,02	987
-6%	-5%	-5%	-3%	2%	1%	4%	6%	5%	-6%	-1%	YOY h owt rev enu e gr	-1%	2%	3%	-5%
(124	) (125 )	) (109	) (129	) (126	) (141	) (132	) (157	) (142	) (146	) (135	Ope ratin g ex pen ses	) (422	) (399	) (556	(487 )
105	139	141	117	107	126	127	105	102	106	121	EBI TDA	330	361	466	501
46%	53%	56%	48%	46%	47%	49%	40%	42%	42%	47%	EBIT DA- gin mar	44%	47%	46%	51%
											Mar ketp lace s Fi nlan d in EU R
0	1	1	1	1	1	1	1	1	1	4	Clas sifie ds r eve nue s	6	3	4	2
2	2	2	2	2	2	1	1	1	1	2	Adv ertis ing reve nue s	4	5	6	7
0	-	-	-	0	0	0	0	0	0	1	Oth er re ven ues	1	0	0	0
2	3	2	3	2	3	3	2	2	2	7	Ope rati ng r eve nue s	12	8	10	10
				6%	13%	16%	-9%	-3%	-26%	192 %	YOY owt h rev enu e gr	51%	12%	6%
(2)	(2)	(2)	(2)	(2)	(3)	(2)	(2)	(2)	(2)	(6)	Ope ratin g ex pen ses	(10)	(7)	(9)	(9)
(0)	0	0	0	(0)	0	0	0	0	0	1	EBIT DA	2	1	1	0
46%	53%	56%	48%	0%	12%	11%	6%	15%	1%	19%	EBIT DA- gin mar	15%	8%	8%	1%

NO K m illion
1 qu arte r	2 qu arte r	3 qu arte r	4 q uart er	1 qu arte r	2 qu arte r	3 qu arte r	4 q uart er	1 qu arte r	2 qu arte r	3 qu arte r		Yea r to date	Yea r to date	Full yea r	Full yea r
201 8	201 8	201 8	201 8	201 9	201 9	201 9	201 9	202 0	202 0	202 0	New s M edi a	202 0	201 9	201 9	201 8
rest ated	rest ated	rest ated	rest ated	rest ated	rest ated	rest ated	rest ated							rest ated	rest ated
											New s M edi a to tal
694	746	630	807	648	683	519	709	529	525	496	Adv ertis ing reve nue s	0 1,55	0 1,85	9 2,55	2,87 7
432	481	387	517	412	432	330	461	348	366	355	-of whi ch d igita l	9 1,06	3 1,17	4 1,63	1,81 7
592	588	602	611	626	628	648	648	632	657	673	Sub scri ptio n re ven ues	1 1,96	2 1,90	0 2,55	2,39 3
168	174	185	199	203	221	239	238	242	263	285	-of whi ch d igita l	789	662	901	726
374	377	375	355	333	340	355	330	306	315	331	Cas ual sale s	952	8 1,02	8 1,35	1,48 1
236	247	228	272	248	260	233	257	289	292	291	Oth er r eve nue s	873	741	998	982
1,89 7	1,95 7	4 1,83	5 2,04	5 1,85	1 1,91	4 1,75	4 1,94	7 1,75	9 1,78	1 1,79	Ope rati ng rev enu es	7 5,33	1 5,52	5 7,46	7,73 3
1%	-1%	-2%	2%	-2%	-2%	-4%	-5%	-5%	-6%	2%	YOY owt h rev enu e gr	-3%	-3%	-3%	0%
(693 )	(666 )	) (573	1) (68	) (685	) (664	) (583	) (676	) (649	) (630	) (558	Per nel son exp ens es	38) (1,8	32) (1,9	07) (2,6	(2,6 13)
(1,1 20)	(1,1 48)	06) (1,1	75) (1,1	50) (1,0	49) (1,0	06) (1,0	20) (1,1	68) (1,0	10) (1,0	) (968	Oth er e xpe nse s	46) (3,0	05) (3,1	25) (4,2	(4,5 49)
(1,8 13)	(1,8 14)	79) (1,6	57) (1,8	35) (1,7	13) (1,7	89) (1,5	95) (1,7	18) (1,7	40) (1,6	26) (1,5	Ope ratin g ex pen ses	84) (4,8	37) (5,0	33) (6,8	(7,1 62)
84	143	156	189	120	198	165	149	39	149	266	EBI TDA	453	484	633	571
4%	7%	8%	9%	6%	10%	9%	8%	2%	8%	15%	EBI TDA rgin -ma	8%	9%	8%	7%
											Spl it re bra nd ven ue per
443	459	443	493	430	468	418	477	407	424	441	VG	2 1,27	6 1,31	3 1,79	1,83 9
415	434	392	438	378	367	347	383	340	359	367	Afto nbla det	6 1,06	3 1,09	5 1,47	1,67 8
859	886	825	914	862	892	830	913	780	770	767	Sub scri ptio n N ews pap ers	17 2,3	3 2,58	6 3,49	3,48 4
180	178	174	200	186	184	159	172	230	236	215	Oth er ( 1)	682	529	701	732
1,89 7	1,95 7	4 1,83	5 2,04	5 1,85	1 1,91	4 1,75	4 1,94	7 1,75	9 1,78	1 1,79	Ope rati ng rev enu es	7 5,33	1 5,52	5 7,46	7,73 3
											(1) Oth er N Me dia incl ude Pri nt, N Me ews ews	dia HQ , Sh ared Se rvic es,M atka	nale n, S PT cos	t all tion and oca

eliminations

0.96 65	0.92 46	05 0.92	39 0.93	52 0.93	153 0.9	37 0.92	81 0.94	92 0.97	40 1.03	1.02 96	SEK /NO K	1.01	43 0.92 47	06 0.93	0.93 64
											Afto nbl ade t in SE K
429	469	425	469	405	401	375	404	347	347	357	Ope ratin g re ven ues	1 1,05	1 1,18	5 1,58	1,79 2
-3%	-3%	-9%	-5%	-6%	-14 %	-12 %	-14 %	-14 %	-14 %	-5%	YOY owt h rev enu e gr	-11	% -11	% -12 %	-5%

NO K m illio n
1 qu arte r	2 q ter uar	3 q ter uar	4 q ter uar	1 qu arte r	2 q ter uar	3 q ter uar	4 q ter uar	1 qu arte r	2 q ter uar	3 q ter uar		Yea r to date	Yea r to date	Full yea r	Full yea r
201 8	201 8	201 8	201 8	201 9	201 9	201 9	201 9	202 0	202 0	202 0	Fin ial S ices anc erv	202 0	201 9	201 9	201 8
d tate res	d tate res	d tate res	d tate res	d tate res	d tate res	d tate res	d tate res							d tate res	d tate res
											Fin ial S ices tot al anc erv
255	246	261	249	273	245	275	260	293	252	289	Ope ratin g re ven ues	834	794	4 1,05	1,0 11
31%	14%	5%	6%	7%	0%	5%	4%	7%	3%	5%	YO Y re th ven ue g row	5%	4%	4%	13%
(16 4)	(16 1)	4) (17	6) (18	7) (21	6) (21	4) (22	7) (22	5) (25	1) (22	4) (20	Ope ratin g ex pen ses	0) (68	7) (65	4) (88	(68 5)
90	85	88	63	57	29	51	33	38	31	86	EBI TDA	154	137	169	325
35%	35%	34%	25%	21%	12%	19%	13%	13%	12%	30%	EBI TDA rgin -ma	18%	17%	16%	32%
											Len do
215	208	221	207	229	205	230	218	250	208	251	Ope ratin g re ven ues	709	664	882	852
46%	26%	10%	8%	6%	-1%	4%	5%	9%	1%	9%	YO Y re th ven ue g row	7%	3%	4%	21%
(12 1)	(12 4)	8) (13	8) (14	8) (17	9) (17	3) (18	8) (18	7) (20	2) (18	4) (17	Ope ratin g ex pen ses	3) (56	0) (54	7) (72	(53 0)
95	84	84	59	51	26	47	30	43	25	78	EBI TDA	146	124	155	322
44%	41%	38%	28%	22%	13%	20%	14%	17%	12%	31%	EBI TDA rgin -ma	21%	19%	18%	38%
											Oth er f ina ncia l se rvic (1) es
39	38	40	42	44	40	45	42	43	45	38	Ope ratin g re ven ues	125	130	172	159
-17 %	-24 %	-16 %	-4%	12%	6%	13%	0%	-3%	10%	-16 %	YO Y re th ven ue g row	-3%	11%	8%	-16 %
(44 )	(37 )	) (36	) (38	) (39	) (38	) (41	) (40	) (48	) (39	) (30	Ope ratin g ex pen ses	7) (11	7) (11	7) (15	(15 5)
(4)	1	4	4	6	3	4	2	(5)	6	8	EBI TDA	8	12	15	4
% -11	2%	9%	9%	13%	7%	9%	5%	% -12	13%	21%	EBI TDA rgin -ma	7%	10%	9%	2%

(1) Other Financial Services include Compricer, Finansportalen other financial services assets, SPT cost allocation and eliminations

NO K m illio n
1 qu arte r	2 q ter uar	3 q ter uar	4 q ter uar	1 qu arte r	2 q ter uar	3 q ter uar	4 q ter uar	1 qu arte r	2 q ter uar	3 q ter uar		Yea r to date	Yea r to date	Full yea r	Full yea r
201 8	201 8	201 8	201 8	201 9	201 9	201 9	201 9	202 0	202 0	202 0	Gro wth	202 0	201 9	201 9	201 8
tate d res	tate d res	tate d res	tate d res	tate d res	tate d res	tate d res	tate d res							tate d res	tate d res
											Gro wth tot al
479	481	463	542	503	510	517	635	563	623	616	Ope ratin g re ven ues	1 1,80	0 1,53	65 2,1	1,96 6
2%	-3%	1%	7%	5%	6%	12%	17%	12%	22%	19%	YO Y re th ven ue g row	18%	7%	10%	2%
(47 5)	(45 8)	7) (44	4) (51	7) (49	9) (48	1) (50	0) (58	4) (58	1) (59	6) (57	Ope ratin g ex pen ses	51) (1,7	87) (1,4	67) (2,0	(1,8 93)
5	24	16	29	6	21	16	55	) (21	32	40	EBI TDA	51	43	98	73
1%	5%	4%	5%	1%	4%	3%	9%	-4%	5%	6%	EBI TDA rgin -ma	3%	3%	5%	4%
											Dis trib utio n
263	257	259	285	292	294	307	355	346	374	368	Ope ratin g re ven ues	9 1,08	893	7 1,24	1,06 4
19%	14%	10%	12%	11%	14%	18%	24%	18%	27%	20%	YO Y re th ven ue g row	22%	15%	17%	14%
(26 1)	(26 2)	9) (25	6) (27	8) (28	5) (28	6) (29	9) (33	7) (34	8) (36	0) (36	Ope ratin g ex pen ses	74) (1,0	0) (87	08) (1,2	(1,0 58)
1	(5)	1	9	4	8	10	16	(1)	6	9	EBI TDA	14	23	39	6
1%	-2%	0%	3%	1%	3%	3%	5%	0%	2%	2%	EBI TDA rgin -ma	1%	3%	3%	1%
											Pris jak t
66	66	67	109	72	72	64	116	75	94	86	Ope ratin g re ven ues	254	209	325	308
17%	20%	14%	17%	10%	9%	-4%	7%	3%	29%	34%	YO Y re th ven ue g row	22%	5%	6%	17%
(52 )	(42 )	) (44	) (73	) (53	) (54	) (51	) (72	) (62	) (58	) (60	Ope ratin g ex pen ses	0) (18	8) (15	0) (23	(21 1)
14	24	23	35	19	19	13	44	12	36	26	EBI TDA	74	51	95	97
21%	37%	35%	33%	27%	26%	20%	38%	16%	38%	31%	EBI TDA rgin -ma	29%	25%	29%	31%
											Oth er G th ( 1) row
151	158	137	148	139	144	146	164	142	155	162	Ope ratin g re ven ues	458	428	592	595
12%	6%	-5%	-8%	-8%	-9%	6%	11%	2%	8%	11%	YO Y re th ven ue g row	7%	-4%	0%	1%
(16 1)	(15 3)	5) (14	4) (16	6) (15	0) (15	3) (15	9) (16	5) (17	5) (16	7) (15	Ope ratin g ex pen ses	6) (49	0) (46	8) (62	(62 4)
(11 )	5	(7)	) (16	) (18	(6)	(7)	(5)	) (32	) (10	4	EBI TDA	) (38	) (31	) (36	(29 )
-7%	3%	-5%	% -11	% -13	-4%	-5%	-3%	% -23	-6%	3%	EBI TDA rgin -ma	-8%	-7%	-6%	-5%

(1) Other Growth include Omni, MittAnbud, Servicefinder, Mötesplatsen, Klart.se, tv.nu, Kickback, Let's Deal, Schibsted Growth HQ, SPT cost allocation, other Growth assets and eliminations