Today, Schibsted released its Q4 2023 results.
A new chapter for Schibsted, unleashing its full value creation potential
“For Schibsted, Q4 was characterised by the announcement of two transformational milestones. For a start, we made important progress in the execution of our ownership in
“Subsequently, we announced in December that our largest shareholder, the
“Financially, we delivered another solid quarter, taking into account that the macroeconomic development in the Nordic region remains challenging as central banks try to navigate the delicate balance between sustaining growth and managing inflationary pressure. Group revenues were
“Nordic Marketplaces achieved an underlying¹ revenue growth of 6 per cent in Q4, despite continued market headwinds in the Job vertical. The increase can be ascribed to solid performance in Mobility, Real Estate, and Recommerce, illustrating the relevance of our marketplaces and value that we create for our customers and users. EBITDA was 3 per cent below last year at
“Continuing the positive development in the previous quarter, News Media’s profitability improved in Q4 which was driven by the ongoing cost programme. EBITDA was
“Similar to the third quarter, performance in Growth & Investments was affected by lower top- and bottom-line in Lendo, driven by challenging macroeconomic factors,” CEO
“After a thorough evaluation of the merits of our options, and given the anticipated change in our corporate structure, we have taken the decision to wind down and exit our investment in Viaplay,” CEO
“While the development in Q4 shows that we are not immune to the current macroeconomic environment, our products continue to have high engagement and reach. This makes a meaningful difference in people's lives, and positions Schibsted and our core businesses well to deliver on our ambitions and goals in the years to come,” CEO
This quarter's highlights
- Transformational milestones announced²:
Adevinta ownership: Unlocking more than 20 years of sustained value creation inAdevinta by reducing our stake by 60 per cent, providing substantial cash proceeds at completion; remaining stake offering incremental value upside.-
Schibsted structure: Initiated process to sell Schibsted’s news media operations to the
Tinius Trust , giving both News Media and Nordic Marketplaces the best possible conditions for value creation.
-
Group: Revenues of
NOK 4,082 million , underlying¹ stable YoY. EBITDA ofNOK 684 million , up 5 per cent YoY mainly driven by News Media. -
Nordic Marketplaces: Solid underlying¹ revenue growth of 6 per cent, driven by Mobility, Real Estate and Recommerce. EBITDA of
NOK 418 million , 3 per cent below last year, mainly driven by the decline in Jobs, and increased costs to drive new business models. -
News Media: Underlying¹ revenues stable YoY. Considerable profitability improvement driven by cost reductions, leading to an EBITDA of
NOK 266 million , and a margin of 13 per cent. -
After a thorough evaluation of the merits of our options, and given the anticipated change in our corporate structure, we have taken the decision to wind down and exit our investment in
Viaplay . -
Delivery: Revenue decline of 12 per cent. EBITDA of
NOK 20 million , significantly up YoY and QoQ, driven by improved profitability in Helthjem. - Growth & Investments: 7 per cent underlying¹ revenue decline, mainly driven by Lendo which is affected by macroeconomic factors. EBITDA down 30 per cent YoY, driven by Lendo and SMB.
-
Dividend of
NOK 2.00 per share proposed for 2023.
| Fourth quarter | Year to date | ||||
(NOK million) | 2023 | 2022 | Change | 2023 | 2022 | Change |
Schibsted Group |
|
|
|
|
|
|
Operating revenues | 4,082 | 3,988 | 2% | 15,756 | 15,272 | 3% |
- of which digital | 2,978 | 2,821 | 6% | 11,383 | 10,563 | 8% |
EBITDA | 684 | 651 | 5% | 2,519 | 2,406 | 5% |
EBITDA margin | 17% | 16% |
| 16% | 16% |
|
¹ Foreign exchange neutral basis
²
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,
Publication of the Q4 results including interim report, presentation, and financials and analytical information.
CEO
https://channel.royalcast.com/landingpage/hegnarmedia/20240207_1/
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_MjNmZDY0MDMtMTdlOS00M2FlLTgzZjgtNmZjNmM0NGQ5NWEz%40thread.v2/0?context=%7b%22Tid%22%3a%226f6d5d78-35df-4e19-83aa-7efcf9b475bc%22%2c%22Oid%22%3a%222475081b-3683-4421-90d7-20303166e40e%22%7d
Meeting-ID: 331 471 202 637
Password: m7oUVb
It will also be possible to send in written questions through the webcast player.
Press/media can reach out to Øyvind Vormeland Salte (oyvind.salte@schibsted.com), Communication Director,
A recording of the presentation will be available on our IR website shortly after the live webcast has ended.
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, Head of Investor Relations, +47 941 00 835, jbm@schibsted.com- Malin Ebenfelt, Investor Relations Officer, +47 916 86 710, ir@schibsted.com
Attachments
- Download announcement as PDF.pdf
- Results presentation Q4 2023.pdf
- Schibsted Financials and Analytical Info Q4 2023.pdf
- Interim Report Q4 2023.pdf
© NTB Norway, source