Schibsted will today host a Capital Markets Day in Paris. The program includes an update on all the activities of the group. The highlights of the presentations are:
- Continued strong growth for all online activities
- Schibsted evaluates launch of online classified ads services in Slovenia and Croatia together with the Austrian media group Styria
- Strong development for Hitta.se
- Aftonbladet has been given concession for "Big City TV" in the Swedish DTT network
- Continued circulation decline and weak ad sales in VG. The circulation YTD has been approx. 30,000 copies lower than last year, and the ad revenues are reduced by 10% despite higher ad volumes. As a consequence of the weak development, measures are taken to reduce fixed costs by approx. NOK 20 million. The management has initiated a dialog with the unions to discuss further measures. Potential new measures will be communicated in relation to the Q1 report
- In Aftenposten the growth in recruitment advertising continues, but short-term weaker markets within real estate and brand advertising contribute to overall ad revenues in the paper being on level with Q1 last year
- Increased focus on new products like A-Magasinet, editorial initiatives and full distribution of Aften increases cost level substantially in 2006 vs. 2005
- Positive ad development in Aftonbladet, but somewhat weak circulation - decline of 4% in February
- Positive development in ad revenues and circulation growth for the 12th consecutive month in SvD - circulation increased by 7% year-on-year in February
- Launch of 20 Minutes in Germany on hold
- Cost increase and good revenue growth for 20 Minutes Spain. Expected decline in operating profit in Q1 2006 and expected break even for 2006 as a whole
- Slow start of the year for 20 Minutes France, but good revenue growth and first month of profitability in March. Expected slight operating loss in 2006 including online initiatives
Contact person:
CFO Trond Berger, tel. +47 91 68 66 95.
Oslo, 24 March 2006
Schibsted ASA
Astrid Thommesen Sæbø
Investor Relations
