Schibsted ASA

Latest Results (22.11.2025):

Summary — Schibsted ASA, Q4 2024 (report covers full-year 2024 and the newly independent Schibsted Media): Schibsted’s published report (Schibsted Media Annual Report 2024) shows a transitional year after the June 7, 2024 demerger. Full-year 2024 revenues were largely flat versus prior year, EBITDA and operating profit weakened, but the company ended the year with a positive net cash position supported by dividends from associates and continued cost measures while shifting focus toward digital subscriptions and operational efficiency.

Key headline figures

Total revenues NOK 7,544 million (NOK 7,586 million prior year). EBITDA NOK 399 million (NOK 517 million). Depreciation & amortisation NOK -466 million (NOK -474 million). Operating profit (EBIT) NOK -40 million (NOK 19 million). Schibsted Media’s share of profit from joint ventures/associates NOK 198 million (mainly Polaris dividend).

Cash flow and balance sheet

Net cash flow from operating activities NOK 84 million (NOK 242 million). Net cash flow from investing activities NOK -1,104 million (NOK -756 million), driven by digital product investments, intercompany repayments and settlement items. Net cash flow from financing activities NOK -903 million (NOK -998 million). Year‑end net cash position NOK 337 million (NOK 52 million prior year). A committed, undrawn credit facility provides additional liquidity.

Revenue mix and market trends

Print revenues continued to decline and advertising remained soft and volatile, while digital revenues (notably subscriptions) showed relative resilience. The report highlights slower subscription volume growth in the first half and improved momentum in the second half aided by pricing, onboarding and product initiatives.

Costs, restructuring and outlook

Company implemented broad efficiency and cost-reduction measures (print production optimisation, procurement review, streamlining operations). Early 2025 actions include further workforce reductions to adapt to structural shifts. Management emphasises digital-first strategy, product investment and continued discipline on costs.

Risks and strategic priorities

Main risks noted: macroeconomic uncertainty affecting ad spend and consumer behaviour, declining print demand, regulatory and cyber-security risks. Priorities are growing digital subscriptions, optimising digital ad offerings, strengthening technology/data security and maintaining liquidity.