Schibsted ASA

SCHB

Equity

ISIN NO0010736879 / Valor 28348448

Oslo Stock Exchange (2024-11-22)

NOK 343.00+0.29%

Schibsted ASA
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About company

Schibsted ASA is a diversified media company with a strong presence in online classifieds services, particularly in Norway through FINN.no. The company's portfolio includes a variety of brands and businesses beyond traditional media, reflecting its commitment to exploring new business opportunities and creating value through a diverse range of offerings. In addition to its online classifieds services, Schibsted has expanded its presence internationally through joint ventures and acquisitions, such as SnT Classifieds and the European and Latin American parts of Trader Classified Media.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Revenue Growth

In the second quarter of 2024, Schibsted ASA reported a 3% year-on-year increase in Group revenues on a constant currency basis, reaching NOK 2,525 million. This growth was primarily driven by the Nordic Marketplaces segment, which saw a 7% revenue increase due to higher average revenue per ad (ARPA) and transactional revenues.

EBITDA Performance

Schibsted ASA's Group EBITDA for Q2 2024 was NOK 546 million, marking a 1% increase year-on-year. The Nordic Marketplaces segment contributed significantly to this performance, with an 8% rise in EBITDA to NOK 568 million, driven by solid growth in Classifieds revenues.

Segment Highlights

The Delivery business of Schibsted ASA experienced a 10% revenue growth in Q2 2024, thanks to higher parcel volumes. This segment achieved an EBITDA of NOK 12 million, up NOK 16 million year-on-year. However, the Growth & Investments segment saw a 13% revenue decline due to reduced demand from macroeconomic factors.

Special Dividend

Schibsted ASA paid out the first part of a special cash dividend amounting to NOK 18 billion, following the Adevinta deal and the sale of its media business. These transactions led to significant cash proceeds, enabling the company to reward its shareholders.

Strategic Transformation

Q2 2024 marked several important milestones in Schibsted ASA's strategic transformation. The company is now centered around four core marketplace verticals: Mobility, Real Estate, Jobs, and Recommerce. This restructuring aims to improve profitability and align the cost base with strategic and financial ambitions.

Summarized from source with an LLMView Source

Key figures

46.8%1Y

-14.1%3Y

39.3%5Y

Performance

40.2%1Y

41.2%3Y

38.7%5Y

Volatility