Q4 2017 8 February 2018 CEO Rolv Erik Ryssdal & EVP CFO Trond Berger
Disclaimer This presentation (hereinafter referred to as the "presentation") has been prepared by Schibsted ASA ("Schibsted" or the "Company") exclusively for information purposes, and does not constitute an offer to sell or the solicitation of an offer to buy any financial instruments. Reasonable care has been taken to ensure that the information and facts stated herein are accurate and that the opinions contained herein are fair and reasonable, however no representation or warranty, express or implied, is given by or on behalf of the Company, any of its directors, or any other person as to the accuracy or completeness of the information or opinions contained in this document and no liability is accepted for any such information or opinions. This presentation includes and is based on, among other things, forward-looking information and statements. Such forward-looking information and statements are based on the current expectations, estimates and projections of the Company or assumptions based on information available to the Company. Such forward-looking information and statements reflect current views with respect to future events and are subject to risks, uncertainties and assumptions. The Company cannot give any assurance as to the correctness of such information and statements. Several factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by statements and information in this presentation. There may have been changes in matters which affect the Company subsequent to the date of this presentation. Neither the issue nor delivery of this presentation shall under any circumstance create any implication that the information contained herein is correct as of any time subsequent to the date hereof or that the affairs of the Company have not since changed. The Company does not intend, and does not assume any obligation, to update or correct any information included in this presentation. 2 Q4 2017
Online Classifieds • AGENDA Media Houses • Growth • Finance • Summary • Q4 2017 3
Highlights Q4 2017 • Online classifieds: Continued revenue growth and EBITDA improvement • Positive development in verticals in Developed phase, including France, Norway and Spain • Investment phase losses reduced • Publishing: Continued digital product development and strong editorial achievements • Stable EBITDA supported by digital growth and cost focus • Schibsted Growth: Continued expansion • Personal finance portal Lendo (Sweden) increased revenues with 41% 4 Q4 2017
5 ONLINE CLASSIFIEDS
Online classifieds Continued growth in revenues and traffic in France France* Revenues (EUR million) and EBITDA margin • High revenue growth rate for verticals 80 +20% • Performance dashboards for verticals well 70 received 60 • Positive results from monetization efforts in jobs, 60% 50 53% 55% starting to impact total revenue growth 40 • Solid traffic growth of 8% Y/Y supported by 30 marketing push and new mobile features on 20 apps 10 0 Q4 15 Q4 16 Q4 17 Revenues EBITDA margin *) Including MB Diffusion from 31 October 2016 6 Q4 2017
Online classifieds Strong growth in Norway, driven by volumes and new products Norway Revenues (NOK million) and EBITDA margin • Volume increase and price +18% optimization in key verticals jobs, cars 500 and real estate 400 • Continued good performance by “Blink” targeted distribution of real 300 estate and jobs classifieds 38% 37% 36% • Strong growth in Personal finance 200 (Lendo) • Cost increase related to marketing 100 0 Q4 15 Q4 16 Q4 17 Revenues EBITDA margin *) Shpock reported as part of Investment phase. Not 7 Q4 2017 part of the figures on this page.
Online classifieds Solid growth in jobs and cars in Spain Spain* Revenues (EUR million) and EBITDA margin • Good performance in jobs and cars in Q4 40 +28% • Strong competition in real estate and generalist – 35 focus on product development 30 • Total growth supported by acquisition of Habitaclia 25 • Q4 EBITDA margins helped by low marketing 20 spend in the quarter 30% 15 24% 10 16% 5 0 Q4 15 Q4 16 Q4 17 Revenues EBITDA margin *) Including Habitaclia from January 2017 8 Q4 2017
Online classifieds Soft quarter in Sweden Sweden Revenues (SEK million) and EBITDA margin* • Total revenue growth in online 0% 300 classifieds +8% 250 • Revenue increase in professional cars driven by premium features 200 • 62% New tools for car dealers well received in the market 150 52% 52% • Continued good growth in jobs 100 • Soft development in display 50 advertising 0 • Weak development for Q4 15 Q4 16 Q4 17 Servicefinder Revenues EBITDA margin *) Revenue growth excluding Servicefinder was 4%. EBITDA margin ex Servicefinder was 54% (57% in Q4 16). 9 Q4 2017
Online classifieds Continued revenue growth in Italy and Austria, limited cost increase Other Developed markets Revenues and EBITDA-margin (EUR million) +12% • Continued revenue growth in Italy 22.8 22.3 and Austria 1.9 18.3 • Verticals and display advertising drive growth • Low growth rate in Ireland 20.4 4.3 1.9 -1.9 Q4 15 Q4 16 Q4 17 Ireland Austria Non-comparable revenues Revenues EBITDA *Reported growth for Q4 is 2% and is negatively affected by non-organic effects, mainly Colombia Italy Hungary sale of Mudah in Malaysia. Adjusted for this, the underlying growth in Q3 was 12% YOY. 10 Q4 2017
Online classifieds Continued high growth in Investment phase revenues – reduced investments Investment phase revenues Investment phase EBITDA • Continued strong revenue (Million EUR) (Million EUR) growth +67% • OLX Brazil on track, break even 23.0 in Q4 – before investments in -0.7 -1.1 -1.5 -2.0 20.7 -3.0 JVs -4.2 -3.6 real estate portal Storia Imoveis -5.7 Other 17.6 -8.6 -7.0 subsidiaries • Significant marketing 15.5 -9.2 13.8 -11.5 Shpock investments in Shpock -14.1 • Strong growth in user metrics -14.3 -12.9 -16.3 -17.5 • Several markets approaching -20.9 break even in 2018 -22.9 -28.1 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 *) Note that for JV’s there is an effect in Q3 of increased ownership of OLX Brazil from 25% to 50%, both on revenues and EBITDA. There is also an effect of increased ownership in Chile and divestment of certain assets 11 Q4 2017
Online classifieds Strong revenue growth and reduced losses based on market leadership in Brazil OLX clear market leader in cars • Solid double digit Number of cars on the site (1,000) +310% Y/Y revenue growth in Q4 • Growth driven by 967 increased monetization in verticals and display Private advertising Pro 741 • OLX was break even in Q4 excluding investments in real estate site Storia 236 181 151 Imoveis 143 226 182 144 136 128 OLX #2 #3 #4 #5 Source ad volumes: Autobiz, December 2017 12 Q4 2017
Continued positive development for Shpock – on track to volume leadership in the UK ▪ Daily smartphone app UK monthly listings 50+ million downloads so far Visitors ahead of Growing sharply ▪ Gumtree in the UK Adding new advertising solutions ▪ Optimizing private seller products ▪ Evolving product for verticals Jan 18: ▪ Developing features to fit needs of 2.2M private and professional sellers ▪ Rolling out professional seller tools starting with general merchandise 2015-Jan 2015-Sep 2016-Jan 2016-Sep 2017-Jan 2017-Sep 2018-Jan 2015-May 2016-May 2017-May ▪ Launching more features and market activities within cars (Source: Comscore Nov 17) 13 Q4 2017
Online classifieds Continued product development Selected examples Performance New valuation tool Messaging & alerts Privacy/GDPR dashboards REUSING TOOLS AND COMPONENTS ACROSS MARKETS WHERE POSSIBLE 14 Q4 2017
MEDIA HOUSES 15
Publishing Strong journalist achievements – supported by innovations in product & tech Fædrelandsvennen: Aftenposten: “The girl on the bridge” (3 February 2018) “The Norwegian Internet abusers” (2 February 2018) 16 Q4 2017
Publishing Digital development and tight cost control in Scandinavian publishing operations Publishing operations Scandinavia Revenues and EBITDA (NOK million) -1% 2 500 2 000 NOK million 1 500 1 000 500 10% 10% 8% 0 Q4 15 Q4 16 Q4 17 Online revenues Offline revenues EBITDA margin Figures include Media House Norway and Media House Sweden excluding Schibsted Growth. 17 Q4 2017
Publishing Strong quarter in tabloid newspapers – revenue increase and tight cost control VG + Aftonbladet • Total revenue growth 1% in Q4. Online Revenues and EBITDA (NOK million) revenues +14% YOY 1 200 +1% • Continued good digital growth in VG, 1 000 some margin contraction due to print decline 800 NOK million • Margin improvement in Aftonbladet as 600 a result of cost reductions 400 18% 16% 15% 200 0 Q4 15 Q4 16 Q4 17 Online revenues Offline revenues EBITDA margin 18 Q4 2017
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