Schibsted : Q2 2021 Financials and Analytical Info

Financials and analytical info as of Q2 2021

1. Profit loss statement
2. Balance sheet
3. Cash flow
4. Segment overview
5. Nordic Marketplaces
6. News Media
7. Financial Services
8. Growth

For details on Adevinta, please refer to Adevinta's reporting on adevinta.com/ir

For questions, please contact Schibsted IR: Jann-Boje Meinecke, Head of IR [e-mail]

[phone] (on paternity leave)

Malin Langtvet, IR Officer [e-mail]

[phone]

schibsted.com/ir

NOK million
										SCHIBSTED GROUP
1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	CONDENSED CONSOLIDATED	Year to date	Year to date	Full year	Full year
2019	2019	2019	2019	2020	2020	2020	2020	2021	2021	INCOME STATEMENT	2021	2020	2020	2019
restated and	restated and	restated and	restated and	restated and	restated and	restated	restated					restated and	restated	restated and
re-presentedre-presentedre-presented	re-presentedre-presentedre-presented							re-presented		re-presented
566	629	610	578	593	590	649	653	702	832	Classified revenues	1,534	1,183	2,485	2,383
772	836	639	887	653	653	630	894	705	843	Advertising revenues	1,549	1,305	2,829	3,134
538	597	451	641	473	495	490	694	551	670	-of which digital	1,221	968	2,153	2,227
679	677	701	703	689	717	737	761	763	753	Subscription revenues	1,516	1,407	2,905	2,760
256	271	293	294	301	324	349	363	374	374	-of which digital	748	625	1,336	1,113
333	340	355	330	306	315	331	303	273	282	Casual sales	555	621	1,256	1,358
739	734	727	818	785	799	840	1,009	958	908	Other revenues	1,866	1,584	3,434	3,017
3,089	3,216	3,032	3,316	3,026	3,073	3,188	3,620	3,401	3,619	Operating revenues	7,019	6,099	12,908	12,653
(102)	(102)	(101)	(111)	(93)	(100)	(109)	(151)	(146)	(129)	Raw materials and finished goods	(275)	(193)	(454)	(416)
(1,232)	(1,213)	(1,078)	(1,270)	(1,221)	(1,189)	(1,130)	(1,365)	(1,299)	(1,366)	Personnel expenses	(2,665)	(2,410)	(4,905)	(4,793)
(1,337)	(1,343)	(1,311)	(1,476)	(1,427)	(1,286)	(1,271)	(1,439)	(1,361)	(1,380)	Other operating expenses	(2,741)	(2,713)	(5,422)	(5,467)
418	557	542	460	285	498	678	665	594	743	Gross operating profit (loss) - EBITDA	1,338	783	2,126	1,977
(208)	(208)	(196)	(201)	(193)	(199)	(218)	(218)	(220)	(233)	Depreciation and amortisation	(454)	(393)	(829)	(813)
(19)	(18)	(8)	(13)	(30)	(4)	2	(12)	(0)	(22)	Share of profit (loss) of joint ventures and associates	(23)	(34)	(44)	(58)
(9)	(0)	(0)	(26)	(0)	(13)	(7)	(40)	(6)	(91)	Impairment loss	(97)	(13)	(61)	(35)
-	-	1	9	66	63	(1)	17	10	64	Other income	74	129	146	11
(14)	(38)	(48)	(61)	(11)	(59)	(94)	(72)	(31)	(45)	Other expenses	(76)	(70)	(237)	(162)
168	293	290	168	117	285	360	339	346	415	Operating profit (loss)	761	402	1,101	920
33	18	22	19	16	7	14	12	3	4	Financial income	8	24	37	89
(43)	(45)	(47)	(48)	(56)	(53)	(52)	(47)	(56)	(58)	Financial expense	(114)	(110)	(197)	(179)
158	266	266	139	77	239	321	304	294	362	Profit (loss) before taxes	655	316	941	829
(59)	(86)	(77)	(53)	(28)	264	(59)	(49)	(71)	(57)	Taxes	(128)	236	128	(275)
99	180	189	86	48	503	262	254	222	305	Profit (loss) from continuing operations	527	552	1,068	554
221	173	213	35	(434)	(34)	(209)	444	(501)	60,471	Profit/loss from discontinued operations	59,970	(468)	(233)	642
320	353	402	121	(385)	469	53	698	(279)	60,776	Profit (loss)	60,497	84	836	1,196
										Profit (loss) attributable to:
19	83	109	36	(171)	(1)	(58)	209	(175)	(135)	Non-controlling interests	(310)	(173)	(22)	247
300	271	292	85	(214)	471	112	490	(104)	60,911	Owners of the parent	60,807	257	858	949
										Earnings per share (NOK)
1.26	1.14	1.23	0.36	(0.91)	2.01	0.48	2.09	(0.44)	260.36	Basic	259.95	1.10	3.67	4.00
1.26	1.13	1.23	0.36	(0.91)	2.01	0.48	2.09	(0.44)	259.92	Diluted	259.48	1.10	3.66	3.99
1.42	1.40	1.43	1.36	(1.11)	2.03	1.60	2.69	1.41	3.50	Basic - adjusted	4.91	0.91	5.21	5.59
1.41	1.40	1.43	1.36	(1.11)	2.03	1.60	2.69	1.41	3.50	Diluted - adjusted	4.91	0.91	5.20	5.58

NOK million
CONDENSED CONSOLIDATED	31.03	30.06	30.09	31.12	31.03	30.06	30.09	31.12	31.03	30.06
STATEMENT OF FINANCIAL POSITION	2019	2019	2019	2019	2020	2020	2020	2020	2021	2021
Intangible assets	16,287	16,459	16,748	17,369	19,773	19,014	6,153	6,018	5,824	9,420
Property, plant and equipment and investment property	845	866	857	849	869	745	492	480	462	499
Right-of-use assets	1,789	1,764	2,374	2,317	2,894	2,735	1,641	1,620	1,549	1,516
Investments in joint ventures and associates	4,407	4,423	4,470	4,529	4,340	4,062	906	922	918	69,883
Deferred tax assets	264	218	274	179	234	588	702	690	709	716
Other non-current assets	154	166	182	241	346	344	88	101	97	132
Non-current assets	23,746	23,897	24,904	25,483	28,456	27,489	9,981	9,832	9,560	82,166
Contract assets	359	477	335	224	226	226	178	173	170	267
Trade receivables and other current assets	2,656	2,763	2,732	3,047	3,198	3,147	1,839	1,792	1,835	1,617
Cash and cash equivalents	727	4,578	4,403	3,866	3,977	6,282	1,021	1,306	1,104	727
Assets held for sale	-	-	-	157	-	-	25,184	35,375	33,292	-
Current assets	3,743	7,818	7,470	7,294	7,401	9,655	28,222	38,646	36,401	2,610
Total assets	27,489	31,715	32,374	32,778	35,857	37,144	38,204	48,478	45,961	84,776
Paid-in equity	6,924	6,941	6,948	6,969	6,993	6,990	7,011	7,028	7,034	7,026
Other equity	7,251	4,182	3,737	3,529	3,820	3,696	3,738	3,151	2,770	64,120
Equity attributable to owners of the parent	14,175	11,123	10,685	10,498	10,813	10,686	10,749	10,178	9,804	71,145
Non-controlling interests	272	6,208	6,367	6,383	6,887	6,402	6,111	5,675	5,465	112
Equity	14,447	17,331	17,052	16,882	17,700	17,088	16,860	15,853	15,269	71,257
Deferred tax liabilities	884	838	852	944	1,078	1,020	335	351	331	641
Pension liabilities	1,175	1,190	1,438	1,095	1,356	1,450	1,235	1,154	1,094	1,065
Non-currentinterest-bearing loans and borrowings	3,830	4,246	4,286	4,729	4,958	5,297	3,139	3,090	3,078	6,344
Non-current lease liabilities	1,644	1,607	2,262	2,192	2,750	2,579	1,550	1,503	1,424	1,388
Other non-current liabilities	318	373	367	355	521	411	290	317	269	389
Non-current liabilities	7,851	8,255	9,204	9,314	10,664	10,757	6,550	6,416	6,195	9,827
Current interest-bearing loans and borrowings	88	1,079	1,080	1,089	1,102	3,133	693	678	675	79
Income tax payable	310	245	334	234	184	115	235	74	95	122
Current lease liabilities	388	401	356	352	426	446	275	286	293	298
Contract liabilities	1,206	1,187	1,126	1,109	1,278	1,227	585	600	635	632
Other current liabilities	3,200	3,217	3,222	3,660	4,502	4,378	2,279	2,537	2,322	2,562
Liabilities held for sale	-	-	-	138	-	-	10,727	22,034	20,476	-
Current liabilities	5,191	6,128	6,118	6,582	7,492	9,299	14,793	26,209	24,497	3,692
Total equity and liabilities	27,489	31,715	32,374	32,778	35,857	37,144	38,204	48,478	45,961	84,776

NOK million
CONDENSED CONSOLIDATED	31.03	30.06	30.09	31.12	31.03	30.06	30.09	31.12	31.03	30.06
STATEMENT OF CASH FLOWS	2019	2019	2019	2019	2020	2020	2020	2020	2021	2021
Profit (loss) before taxes from continuing operations	158	424	690	829	77	316	637	941	294	655
Profit (loss) before taxes from discontinued operations	356	657	1,031	1,119	(308)	(247)	(272)	154	(335)	(130)
Depreciation, amortisation and impairment losses	328	636	932	1,537	335	710	968	1,226	226	552
Net effect pension liabilities	(65)	(51)	(56)	(84)	(46)	(42)	(28)	(7)	(55)	(79)
Share of loss (profit) of joint ventures and associates, net of dividends received	(21)	62	72	40	27	9	40	52	12	36
Taxes paid	(301)	(597)	(779)	(978)	(159)	(333)	(522)	(819)	(199)	(397)
Sales losses (gains) non-current assets and other non-cash losses (gains)	1	2	(2)	(1)	(66)	(124)	(138)	(189)	553	522
Non-cash items and change in working capital and provisions	323	132	196	382	678	717	974	1,043	220	159
Net cash flow from operating activities	778	1,265	2,085	2,844	538	1,005	1,659	2,402	715	1,318
- of which from continuing operations	276	582	1,038	1,532	98	418	711	1,292	299	977
- of which from discontinued operations	502	683	1,047	1,312	440	587	948	1,110	416	341
Net cash flow from investing activities	(491)	(867)	(1,144)	(2,244)	(366)	(708)	(2,947)	(6,109)	(404)	(4,914)
- of which from continuing operations	(334)	(475)	(638)	(888)	(165)	(348)	(2,473)	(2,654)	(424)	(3,534)
- of which from discontinued operations	(157)	(392)	(506)	(1,356)	(201)	(360)	(474)	(3,455)	20	(1,380)
Net cash flow from financing activities	(1,387)	2,352	1,626	1,429	(201)	2,121	2,022	2,624	(341)	1,694
- of which from continuing operations	(1,024)	2,547	1,849	1,219	(155)	(319)	(391)	(498)	(69)	2,086
- of which from discontinued operations	(363)	(195)	(223)	210	(46)	2,440	2,413	3,122	(271)	(392)
Effect of exchange rate changes on cash and cash equivalents	(16)	(16)	(7)	(7)	140	(2)	67	(105)	(80)	(48)
Net increase (decrease) in cash and cash equivalents	(1,116)	2,734	2,560	2,022	111	2,417	801	(1,188)	(109)	(1,951)
Cash and cash equivalents at start of period	1,844	1,844	1,844	1,844	3,866	3,866	3,866	3,866	2,678	2,678
Cash and cash equivalents at end of period	727	4,578	4,403	3,866	3,977	6,282	4,666	2,678	2,569	727
- of which cash and cash equivalents in assets held for sale	-	-	-	-	-	-	3,645	1,371	1,464	-
- of which cash and cash equivalents excluding assets held for sale	727	4,578	4,403	3,866	3,977	6,282	1,021	1,306	1,104	727

NOK million
1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter	3 quarter	4 quarter	1 quarter	2 quarter		Year to date	Year to date	Full year	Full year
2019	2019	2019	2019	2020	2020	2020	2020	2021	2021	SCHIBSTED GROUP	2021	2020	2020	2019
restated	restated	restated	restated	restated	restated	restated	restated					restated	restated	restated
										Operating revenues
722	813	769	758	743	753	827	857	877	1,047	Nordic Marketplaces	1,924	1,496	3,181	3,062
1,883	1,940	1,775	1,971	1,770	1,802	1,809	2,078	1,845	1,947	News Media	3,792	3,572	7,459	7,568
273	245	275	260	293	252	289	265	279	271	Financial Services	550	545	1,100	1,054
474	480	497	607	544	604	593	775	744	689	Growth	1,434	1,148	2,517	2,058
141	151	143	143	167	177	162	162	161	158	Other/Headquarters	319	344	668	579
(404)	(414)	(427)	(423)	(491)	(516)	(493)	(517)	(505)	(494)	Eliminations	(999)	(1,007)	(2,017)	(1,668)
3,089	3,216	3,032	3,316	3,026	3,073	3,188	3,620	3,401	3,619	Schibsted Group	7,019	6,099	12,908	12,653
										EBITDA
307	374	373	306	298	341	356	340	360	489	Nordic Marketplaces	849	639	1,336	1,360
126	203	166	156	37	148	272	294	205	275	News Media	481	184	750	651
57	29	51	33	38	31	86	49	50	39	Financial Services	89	69	203	169
(0)	16	16	48	(19)	33	34	61	35	13	Growth	48	14	109	80
(71)	(66)	(63)	(83)	(69)	(54)	(69)	(80)	(56)	(73)	Other/Headquarters	(128)	(123)	(272)	(284)
418	557	542	460	285	498	678	665	594	743	Schibsted Group	1,338	783	2,126	1,977