Schibsted hosts Investor Days in London 9 October and in New York 10 October 2013. The presentation material and more information is available on www.schibsted.com/Investorday2013. The presentation in London can be followed on live webcast on the same site from 10:00 CET on 9 October.Â
- Schibsted continues to build online leadership. We are working towards ambitious goals to become a global leader in Online Classifieds, build world-class digital media houses, and seize growth opportunities in new online services. We have set out to "empower people in their daily life", with innovative solutions and high-quality products. The on-going strengthening of our organization, technology platforms, and data analytics capabilities will enable us to meet our customers' future demands and create the next generation growth drivers, says CEO Rolv Erik Ryssdal.
Schibsted's target of medium term annual revenue growth for online classifieds operations is maintained at 15-20%. However, weak macro and refocusing on traffic growth in Spain may negatively affect revenue growth in the short-term. Our leading French site Leboncoin.fr holds significant long-term potential in new verticals and products, although growth may slow down in the short-term due to prudent monetization strategies and tougher year-on-year comparisons.
Within the investment phase portfolio, Schibsted recently joined forces in selected markets in South America and Asia with Telenor, a leading global telecom operator with approximately 150 million mobile customers. Telenor offers valuable insights into mobile internet solutions and extensive experience from emerging market operations. This also strengthens the capital base for development of leading online classifieds sites in the potentially large existing markets as well as possibilities in new geographical markets.
Strong brands form an important part of the foundation of Schibsted's media houses, and with its growing digital platforms they reach a larger audience than ever. The focus remains on converting revenue streams from print to digital platforms, and to continue the building of world-class media solutions across desktops, mobiles/tablets, and web-TV.
Schibsted's easy and safe payment solution SPiD already has more than two million registered users, and holds the possibility to build customer databases across the portfolio of online media, classifieds and new services. Advanced data analysis is expected to enhance customer insights and enable development of attractive personalised products and services across the Group.Â
Schibsted will maintain financial flexibility, and reiterates its targets with respect to maintaining an equity ratio of 35-50%, prudent financial leverage with a net interest bearing debt/EBITDA ratio of 1-2x, and a dividend pay-out ratio of 25-40% of cash flow.Â Â
Trond Berger, CFO. Tel: +47 916 86 695
Jo Christian Steigedal, VP Investor Relations. Tel: +47 415 08 733
Oslo, 9 October 2013
Jo Christian Steigedal
VP Investor Relations
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Source: Schibsted via Thomson Reuters ONE