Schibsted ASA

Latest Results (28.11.2025):

Schibsted ASA — Q4 2024 (note: the provided report is Schibsted Media AS’s Annual Report for full-year 2024 following separation on 7 June 2024). The report shows Schibsted Media’s 2024 operating revenues of NOK 7,544m (vs NOK 7,586m in 2023), an EBITDA (gross operating profit) of NOK 399m (down from NOK 517m), operating loss (EBIT) of NOK -40m (NOK 19m in 2023) and a net profit of NOK 127m. Results were affected by the mid-year separation from Schibsted ASA, one-off items and continued advertising/print headwinds, while digital subscriptions and a strengthened net cash position (NOK 337m at year-end) provided partial offset.

Top-line and profitability

Full‑year 2024 revenues NOK 7,544m (slight decrease vs 2023). Gross operating profit (EBITDA) NOK 399m (2023: 517m). Depreciation/amortisation NOK 466m led to operating loss NOK -40m (2023: profit NOK 19m). Profit after tax NOK 127m (attributable to owners NOK 139m; non-controlling interests -12m).

Cash flow and balance sheet

Net cash flow from operations NOK 84m (2023: 242m). Strong investing outflow NOK 1,104m mainly from digital product investments and intercompany items, financing outflow NOK -903m. Year‑end net cash position NOK 337m (2023: NOK 52m). Committed undrawn credit facility retained for flexibility.

Impact of separation from Schibsted ASA

Schibsted Media was established as an independent group on 7 June 2024 after divestment from Schibsted ASA. The report presents combined/full‑year figures and discloses split effects, one‑off costs and capital movements related to the demerger and transfers of assets and businesses.

Revenue mix & market trends

Advertising markets remained soft (print particularly weak) while digital advertising and premium formats showed promise. Subscription revenues remain core: total subscription NOK 3,309m (digital subscriptions growing but some volume pressure). Casual (single-copy) sales NOK 763m.

Non-operating items and joint ventures

Schibsted Media’s share of profit from joint ventures and associates was NOK 198m in 2024 (mainly reflecting dividends and distributions, including from Polaris Media ASA), materially supporting the reported net profit.

Costs, efficiency and restructuring

Management implemented cost‑reduction and efficiency measures (print optimisation, procurement renegotiation, streamlined operations). In early 2025 the company announced further workforce reductions and a renewed cost programme to adapt to structural market change.

Investments and capital allocation

Investing activity focused on digital product development and selected strategic initiatives; development/capex and transfers from the split were significant contributors to the elevated investing cash outflow. The Group remains focused on technology, data and digital product investment.

Outlook (management view)

Management expects continued focus on growing digital subscriptions and optimising advertising, while prioritising cost transformation and operational efficiency in 2025. A planned acquisition (TV4 and MTV) was noted for Q3 2025 as strategic to strengthen video/news/entertainment reach in the Nordics.