SCHIBSTED ASA 6.5.2021 07:00:01 CEST | Schibsted | Half yearly financial reports and audit reports / limited reviews Today, Schibsted released its Q1 2021 results Strong start to 2021 "Schibsted started 2021 with a strong first quarter, despite continued uncertainty from the COVID-19 pandemic. Driven by underlying¹ revenue growth of 8 percent and cost savings, we achieved a strong EBITDA ofNOK 594 million in Q1, up fromNOK 285 million in the same period last year," CEOKristin Skogen Lund says. "The jump in EBITDA was driven by all business areas, while in particular News Media had another strong quarter, where underlying² revenues grew 3 percent in combination with lower costs. The revenue growth in News Media was due to continued strong growth in digital subscriptions, in addition to a significant improvement in digital advertising," CEOKristin Skogen Lund says. "In Nordic Marketplaces, underlying¹ revenues returned to a 6 percent growth driven by an improvement in the Job vertical inNorway , and a strong March month across all markets. Real estate inNorway and the Motor vertical inNorway andSweden were still somewhat negatively affected by less need for upsell products due to lower inventory levels and high demand, but volume trends have improved throughout the quarter. Looking atFinland , the Oikotie integration was successfully completed and underlying¹ classifieds revenues increased compared to last year driven by a recovery in Jobs, combined with good progress in Real estate and Motor," CEOKristin Skogen Lund says. "In Next, Lendo's profitability improved slightly compared to the first quarter last year despite lower underlying² revenues, which were negatively affected by COVID-19 effects inSweden . Similar to previous quarters, Distribution and Prisjakt recorded strong growth driven by increased online shopping trends," CEOKristin Skogen Lund says. "On the back of these strong results and our priorities, which we presented at our virtual Capital Markets Day in March, I am excited about our long-term possibilities for growth and value creation which lie ahead of us," CEOKristin Skogen Lund says. Highlights of the quarter * Underlying¹ revenue growth of 8 percent YoY ensured strong quarterly EBITDA ofNOK 594 million , more than doubled from Q1 last year and 42 percent above Q1 2019 * Nordic Marketplaces: Underlying¹ revenues returned to YoY growth of 6 percent after three quarters of flat or declining revenues, driven by the Job vertical inNorway . EBITDA margin of 50 percent inNorway and 42 percent inSweden . * News Media: Strong EBITDA margin of 11 percent driven by higher revenues and cost savings. The revenue growth was due to strong growth in digital subscriptions as well as a significant improvement in digital advertising. * Financial Services: Robust EBITDA margin of 20 percent in Lendo, despite underlying² revenue decline of 6 percent YoY driven by negative COVID-19 effects inSweden . * Growth: Strong underlying² revenue growth of 36 percent YoY thanks to strong growth in Distribution and Prisjakt which have benefited from increased online shopping trends. (NOK million) | Q1 2021 | Q1 2020 | Change | | Year 2020 Schibsted Group | | | | | Operating revenues | 3,401 | 3,026 | 12% | | 12,908 - of which digital | 2,108 | 1,826 | 15% | | 7,893 EBITDA | 594 | 285 | >100% | | 2,126 EBITDA margin | 17% | 9% | | | 16% Alternative performance measures used in this release are described and presented in the section Definitions and reconciliations in the quarterly report. Webcast presentation including Q&A 6 May at09:00 CET CEOKristin Skogen Lund and CFORagnar Kårhus will present the Q1 results as a live webcast, including a Q&A session. The presentation and following Q&A session will be held in English. The webcast can be viewed live at: https://bit.ly/3sy1Wkt. For the Q&A, participants can send in written questions via Slido at: https://app.sli.do/event/7hqfchpw. It will not be possible to ask questions by phone. As a result of the COVID-19 pandemic, it will not be possible to attend the presentation in person at our headquarters inOslo . Press/media can reach out to Schibsted's Head ofExternal Communications & Brand Management , Nathalie Kåvin (nathalie.kavin@schibsted.com), to set up separate one-on-one interviews with CEOKristin Skogen Lund . A recording of the presentation will be available on our IR website shortly after the live webcast has ended. ¹ Revenue growth on a foreign exchange neutral basis adjusted for business combinations ² Revenues on a foreign exchange neutral basis Oslo, 6 May 2021 SCHIBSTED ASA DISCLOSURE REGULATION This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. CONTACTS * Jann-Boje Meinecke, VP, Head of Investor Relations, +47 941 00 835, jbm@schibsted.com * Malin Langtvet, Investor Relations Officer, +47 916 86 710, ir@schibsted.com * Nathalie Kåvin, Head of External Communications & Brand Management, +47 934 01 363, nathalie.kavin@schibsted.com ATTACHMENTS Download announcement as PDF.pdf - https://kommunikasjon.ntb.no/ir-files/17847482/534/695/Download%20announcement%2 0as%20PDF.pdf Interim Report Q1 2021.pdf - https://kommunikasjon.ntb.no/ir-files/17847482/534/692/Interim%20Report%20Q1%202 021.pdf Results Presentation Q1 2021.pdf - https://kommunikasjon.ntb.no/ir-files/17847482/534/693/Results%20Presentation%20 Q1%202021.pdf Financials and Analytical Info Q1 2021.pdf - https://kommunikasjon.ntb.no/ir-files/17847482/534/694/Financials%20and%20Analyt ical%20Info%20Q1%202021.pdf
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