Schibsted ASA

Latest Results (22.02.2026):

Schibsted ASA — Q4 2024: In Q4 2024 Schibsted ASA (Schibsted Marketplaces) reported group operating revenues of NOK 2,103 million (up ~12% YoY on a constant‑currency basis) and Group EBITDA of NOK 337 million (up 3% YoY). The quarter closed a major transformation: the company has repositioned itself as a pure‑play marketplaces group focused on four core verticals (Mobility, Real Estate, Jobs, Recommerce) while resetting costs and simplifying the portfolio. Despite positive EBITDA, Q4 shows a material operating loss (NOK -1,384 million) driven by impairment charges; cash and liquidity remained strong and the Board proposes an ordinary dividend and plans a special cash distribution related to Adevinta proceeds.

Group financial headline

Revenues Q4: NOK 2,103m (≈ +12% YoY CC). EBITDA Q4: NOK 337m (+3% YoY). Operating profit (loss) Q4: NOK -1,384m (driven by impairment charges). Basic EPS Q4: NOK -1.12. The company reports solid underlying operating resilience (positive EBITDA) but one‑off impairments weighed on reported operating profit.

Key segment performance

Mobility: Revenues NOK 559m, EBITDA NOK 278m (EBITDA margin ~50%); Classifieds and transactional growth offset by advertising decline. Real Estate: Revenues NOK 263m, EBITDA NOK 77m; ARPA and transactional growth in Norway but higher investment costs lowered margin. Jobs: Revenues NOK 270m, EBITDA NOK 113m; Norway up on ARPA but exits in Sweden/Finland reduced revenue and EBITDA. Recommerce: Revenues NOK 224m, EBITDA NOK -78m; transactional GMV growing but advertising decline and product closures reduced profitability. Delivery: Revenues NOK 625m, EBITDA NOK 17m; revenue +41% (Helthjem, Amedia acquisition) but higher costs compressed margin.

Impairments and operating loss

The group recognised total impairment losses of NOK -1,336m in Q4 2024 (notably NOK -1,078m related to goodwill in NMP Finland and NOK -252m on internally generated intangible assets), which is the main reason for the large operating loss despite positive EBITDA.

Capital allocation and dividends

The Board proposes an ordinary dividend of NOK 2.25 per share for 2024. Schibsted expects to receive roughly NOK 500m in cash proceeds from Adevinta asset sales in Q2 2025 and intends to distribute that as a special cash dividend (≈ NOK 500m).

Cash position and balance sheet

Cash at Q4 year‑end: NOK 5,564m; net cash position NOK 2,546m; total available liquidity including undrawn facilities: NOK 9,103m. The strong liquidity position supports ongoing restructuring, buybacks and planned distributions.

Strategic outlook

Schibsted is executing a transformation to a focused marketplaces company: prioritising four verticals (Mobility, Real Estate, Jobs, Recommerce), scaling transactional models, improving monetisation, simplifying the portfolio (planned exits of non‑core businesses such as Lendo and Prisjakt), and resetting the cost base. Management reiterates medium‑term targets per vertical while noting near‑term earnings are affected by advertising markets, separation effects from Schibsted Media, and restructuring costs.