Schibsted ASA

Latest Results (06.04.2026):

Schibsted ASA — Q4 2024 (reporting full‑year 2024 via the Schibsted Media AS Annual Report 2024). The report shows a broadly transitional year following the June 7, 2024 separation from Schibsted ASA: group revenues were essentially flat at NOK 7,544m (2023: NOK 7,586m), EBITDA fell to NOK 399m (2023: NOK 517m) and operating profit (EBIT) turned negative at NOK -40m (2023: NOK 19m). Net profit was NOK 127m (2023: -14m), helped by a NOK 198m share of profit from joint ventures/associates (mainly Polaris dividends). Year‑end net cash was NOK 337m (NOK 52m at 2023 year‑end) after significant investing and separation‑related cash flows. Management highlights continuing cost programmes and a 2025 focus on digital subscriptions, advertising premium formats and a planned Q3 2025 acquisition (TV4/MTV) to scale video/entertainment offerings.

Headline financials

Revenue: NOK 7,544m (2023: 7,586m). EBITDA: NOK 399m (2023: 517m). EBIT: NOK -40m (2023: 19m). Profit after tax: NOK 127m (2023: -14m).

Profit drivers and one‑offs

Reported profit improved to NOK 127m mainly because of a NOK 198m contribution from joint ventures/associates (largely Polaris Media dividends). Operating profit turned negative due to lower EBITDA and continued depreciation/amortisation and one‑off costs tied to the establishment and separation of Schibsted Media as an independent group.

Revenue mix and market trends

Subscriptions remain the core pillar: subscription revenue NOK 3,309m (digital portion NOK 1,982m). Advertising at NOK 2,601m (digital advertising NOK 2,167m) with print continuing to decline and digital advertising growing in premium formats (video, content marketing) but remaining sensitive to macro volatility.

Cash flow and balance‑sheet position

Net cash flow from operating activities was NOK 84m (2023: 242m). Investing cash flow was NOK -1,104m (driven by digital product investment, repayments/settlements with related parties and other items). Financing outflows NOK -903m (incl. lease payments and group settlements). Net cash at 31 Dec 2024: NOK 337m (vs NOK 52m).

Costs and efficiency measures

Management implemented broad cost‑reduction and efficiency measures (print optimisation, procurement renegotiation, internal streamlining). A further cost programme was announced in early 2025, including workforce reductions, to adapt to structural industry shifts and support the digital transition.

Separation from Schibsted ASA

Schibsted Media became an independent, Tinius‑owned group on 7 June 2024. The accounts reflect split effects, capitalisations transferred from former group companies, settlement of share‑based payments and other separation‑related one‑offs. These items affect comparability with prior periods.

Joint ventures and associates

Schibsted’s share of profit from JVs/associates was NOK 198m, mainly reflecting dividends from Polaris Media ASA. Investments in associates/JVs are material to reported profit in 2024.

Outlook and 2025 priorities

Management guidance: continued focus on strengthening digital subscriptions and premium digital advertising, further cost transformation and technology/data investment. The group highlights a planned acquisition (TV4 & MTV) in Q3 2025 as a strategic move to boost video/entertainment reach in the Nordics.