Schibsted hosts an investor seminar in Barcelona today 14 November 2017 at 16:00. The presentation material and more information about the event, including venues, is available on www.schibsted.com/ir. The presentation can be followed on live a webcast on the same URL from 16:00 on 14 November.
The Online classifieds operations of Schibsted is the main topic of the seminar, and Schibsted reiterates the existing goal of 15-20 percent revenue growth in the online classifieds portfolio medium to long term. There will be focus on cash flow and profitability improvement. A main goal for Schibsted is to deepen the roots in the real estate, car and jobs verticals, which is expected to contribute well to the revenue growth both in the well developed markets in Europe, like France, and in less developed markets, for example Brazil. As a global leader within online classifieds, Schibsted will continue to leverage scale by developing common components and converging platforms. This will enhance our competitive strengths.
Schibsted's portfolio of Online classifieds companies in Investment phase continues to develop well. Monetization is increasing rapidly in many markets, and the losses have been reduced in 2017. In 2018, the losses will be further reduced.
Schibsted maintains the ambition to engage in targeted M&A activities, and will continue to focus on value creative bolt-on acquisitions and in-market consolidation within online classifieds.
Schibsted's publishing operations have been at the forefront in developing successful digital products. The high level of innovation combined with focus on sustainable profitability will be maintained, leveraging the common media platform that is implemented in all operations. The Schibsted Growth portfolio enjoys high growth rates primarily driven by personal finance and price comparison services. Some of the concepts can be scaled outside of the Nordic markets. Schibsted has initiated a strategic review of the personal finance operations, including Lendo.
Trond Berger, CFO. Tel: +47 916 86 695
Jo Christian Steigedal, VP Investor Relations. Tel: +47 415 08 733
Direct link to the presentation webcast: http://webtv.hegnar.no/presentation.php?webcastId=67475712
Oslo, 14 November 2017
Jo Christian Steigedal
Head of IR
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
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Source: Schibsted via Globenewswire