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Schibsted ASA (SBSTB.OL)

SBSTB.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Media group Schibsted offers B-shares to finance M&A in online classifieds
Tuesday, 21 Nov 2017 

Nov 21 (Reuters) - SCHIBSTED ASA ::REG-SCHIBSTED ASA (SCHA/SCHB) - SCHIBSTED ANNOUNCES OFFERING OF B-SHARES.‍SCHIBSTED ASA ("SCHIBSTED" OR " COMPANY") ANNOUNCES AN OFFERING OF UP TO 11,880,397 B-SHARES, EQUAL TO 5.2% OF EXISTING SHARE CAPITAL OF COMPANY ( "OFFERING") OR 10% OF EXISTING OUTSTANDING B-SHARES.​.‍NET PROCEEDS FROM OFFERING WILL BE USED TO STRENGTHEN COMPANY'S CAPITAL BASE AND TO FINANCE STRATEGIC ACQUISITION ACTIVITIES, ESPECIALLY WITHIN ONLINE CLASSIFIEDS SEGMENT, WHERE COMPANY SEES OPPORTUNITIES TO DO VALUE ACCRETIVE IN-MARKET CONSOLIDATION AND BOLT-ON ACQUISITIONS​.‍COMPANY'S OVERALL STRATEGY REMAINS FIRM: TO CONTINUE TO BUILD ONLINE CLASSIFIEDS TRAFFIC AND BRAND LEADERSHIP POSITIONS AND TO DEEPEN FOOTPRINT IN REAL ESTATE, CAR AND JOBS VERTICALS​.‍SCHIBSTED HAS RETAINED ARCTIC SECURITIES, DNB MARKETS AND GOLDMAN SACHS INTERNATIONAL AS JOINT BOOKRUNNERS IN CONNECTION WITH OFFERING (JOINTLY "MANAGERS").​.‍BOOK-BUILDING PERIOD WILL COMMENCE IMMEDIATELY AND IS EXPECTED TO CLOSE ON 21 NOVEMBER 2017 WITH SETTLEMENT EXPECTED TO OCCUR ON OR AROUND 24 NOVEMBER 2017.​.‍MINIMUM APPLICATION AND ALLOCATION OF SHARES PER INVESTOR IN OFFERING WILL BE A NOK AMOUNT EQUIVALENT TO EUR 100,000,​.‍SCHIBSTED HAS AGREED NOT TO UNDERTAKE A FURTHER ISSUE OR SALE OF B-SHARES OR SECURITIES CONVERTIBLE INTO SUCH SHARES FOR A PERIOD OF 90 DAYS FOLLOWING SETTLEMENT OF OFFERING WITH MANAGERS​.  Full Article

Schibsted says hasn't seen any strong effects from Facebook's competition
Tuesday, 14 Nov 2017 

Nov 14 (Reuters) - Schibsted SBSTa.OL::Norway's Schibsted has not seen any strong effects from Facebook competition in online classified ads business, Sondre Gravir, EVP Europe, Established Sites, told and investor conference in Barcelona on Tuesday.Gravir said competition was increasing but Schibsted had a strong market position."We have the domain expertise on market places and we are also making new launches (like Facebook)," he added.  Full Article

Schibsted maintains online classifieds goal, to focus on bolt-on acquisitions
Tuesday, 14 Nov 2017 

Nov 14 (Reuters) - Schibsted Asa :‍reiterates existing goal of 15-20 percent revenue growth in online classifieds portfolio medium to long term​.‍there will be focus on cash flow and profitability improvement​.‍schibsted's portfolio of online classifieds companies in investment phase continues to develop well​.‍monetization is increasing rapidly in many markets, and losses have been reduced in 2017. In 2018, losses will be further reduced​.‍maintains 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 has initiated a strategic review of personal finance operations, including lendo​.  Full Article

ex-editor of Schibsted tabloid VG sells Schibsted shares​
Friday, 3 Nov 2017 

Nov 3 (Reuters) - SCHIBSTED ASA :‍TORRY PEDERSEN, PRIMARY INSIDER IN SCHIBSTED ASA, SOLD ON 3 NOVEMBER 2017 1,000 A-SHARES IN SCHIBSTED ASA AT A PRICE OF NOK 251.30 PER SHARE AND 2,000 B-SHARES IN SCHIBSTED ASA AT A PRICE OF NOK 231.00 PER SHARE.​.‍AFTER TRANSACTION, PEDERSEN AND CLOSE ASSOCIATES HOLDS 8,886 A-SHARES AND 9,936 B-SHARES IN SCHIBSTED ASA.​.  Full Article

Schibsted Q3 results above forecast, sees lower investments ahead
Friday, 3 Nov 2017 

Nov 3 (Reuters) - Schibsted Asa :Schibsted q3 revenues nok ‍4,161​ million (Reuters poll nok 4.02 billion) vs NOK 3,798 mln in Q3 2016.Schibsted q3 ebitda nok ‍783​ million (Reuters poll nok 640 million) vs NOK 572 mln in q3 2016.Schibsted q3 ebitda ex investment phase nok ‍903​ million (Reuters poll nok 793 million) vs NOK 756 mln in q3 2016 .Schibsted q3 pretax result nok ‍​ 779 million (Reuters poll nok 458 million).‍going forward, we aim to continue good development by taking further advantage of our competitive strengths - strong local presence leveraged by joint, scalable product and tech platforms​.‍tight cost control and digital product innovation leads to improved ebitda margins in publishing activities.Schibsted keeps guidance of 15-20 percent revenue growth in online classifieds for mid to long term.Based on the traffic leadership and the strength of the Leboncoin brand, there is room for increased market shares in verticals such as real estate, cars and jobs‍​.Schibsted: in Spain we still expect a competitive environment in real estate and a sluggish development for display advertising, cars and jobs are positive.Schibsted: full year investments are expected to go down versus 2016, though seasonal effects may lead to a higher investment level in q4 2017 compared to q3 2017.Schibsted: in 2018, we plan for further reductions of online classifieds investment phase losses.  Full Article

BRIEF-Norway's Schibsted Q3 earnings beats forecast
Friday, 4 Nov 2016 

Schibsted : Q3 EBITDA ex-investment phase NOK 756 million (Reuters poll 683 million), up 13 pct vs Q3 2015 . Schibsted Q3 revenues NOK 3,798 million (Reuters poll NOK 3.80 billion) vs NOK 3,673 mln in Q3 2015 . Q3 pretax result NOK 392 million (Reuters poll NOK 316 million) vs NOK 965 mln in Q3 2015 . Says "Schibsted reported its highest ever gross operating profit number for a third quarter. This was a result of continuing revenue growth and improved profitability margins in the online classifieds operations as well as online growth and significant cost reductions in the media houses" . Keeps guidance of 15-20 percent revenue growth in online classifieds for mid to long term . says in Spain, revenue growth is expected to reaccelerate in 2017 as a result of product enhancements and better market conditions . Investments in online classifieds in full year 2016 are expected to be in the range EUR 90-95 million (compared to EUR 95.6 million in 2015). . Says in 2017, the investments in online classifieds are expected to go significantly down. . Says our newspapers in Norway and Sweden continue to face negative revenue development driven by rapid decline in print advertising . Says EBITDA of the other/headquarters segment, which includes product and technology investments, is estimated to be negative NOK 650-700 million in the full year 2016.  Full Article

Schibsted keeps growth target, says Spanish business struggles in H2
Tuesday, 27 Sep 2016 

Schibsted Asa : Schibsted's target of medium- to long term annual revenue growth for online classifieds operations is maintained at 15-20% . Political uncertainty in spain has continued over summer, which affects schibsted's revenue growth particularly in jobs vertical. In Q3 2016 this is likely to lead to a high single digit revenue growth in the Spanish online classifieds operations, which is a deceleration compared to the first half of 2016. The long term growth potential remains intact . Announces acquisition of MB Diffusion, leading online classifieds market place for agricultural and construction equipment in France. The company has strong synergies with Leboncoin.fr in France, and has an international presence with prospects for further growth. The revenue of the company was EUR 10.8 million in the full year 2015 . Schibsted ecosystem strategy is being strengthened in scandinavian markets . 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.  Full Article

FastOut signs agreement with Finn.no
Tuesday, 30 Aug 2016 

Fastout Int AB : Says expands to Norway .Says has signed agreement with Finn.no, Norway's marketplace owned by Schibsted.  Full Article

Schibsted Q2 EBITDA above forecast
Tuesday, 19 Jul 2016 

Schibsted Asa: Schibsted q2 ebitda ex investment phase nok 831 million (Reuters poll 754 million)vs 753 mln in Q2 2015 . Schibsted q2 revenues nok 4,114 million (Reuters poll nok 4.04 billion) vs 3,803 mln in q2 2015 . Q2 operating profit NOK 357 mln (Reuters poll NOK 440 mln) vs NOK 510 mln in Q2 2015 . Ebitda Of The Other/Headquarters Segment, Which Includes Product And Technology Investments, is Estimated To Be Negative Nok 650 million in the full year 2016 . On a medium to long-term horizon the target for annual revenue growth remains at 15-20 percent . Says french site leboncoin.fr to launch an improved product offering in the job vertical in q3/q4 2016 . Continued investments are planned in native apps, like Shpock, and the online classifieds operations during the second half of 2016 . At the same time, investments are expected to be reduced in most other markets, as the investment cycle is nearing the end there . This is a result of reduced marketing investments and increased monetization . In total, investments in full year 2016 are expected to be in the area EUR 80-100 million (compared to EUR 95.6 million in 2015) .In media houses the structural digital shift and the transformation process are expected to continue.  Full Article

Schibsted says Swedish regulator has negative view of Hemnet deal
Friday, 13 May 2016 

Schibsted Asa : Blocket has received a draft statement of objections from the Swedish Competition Authority detailing its concerns in relation to Blocket's planned acquisition of Hemnet. . The Swedish Competition Authority takes a negative view of the transaction in its current form. .Schibsted will continue its dialog with the Swedish competition Authority to explore whether commercially viable remedies can be offered to address the concerns identified by the authority..  Full Article

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European shares retreat on euro bounce; UK flat after budget

MILAN European shares slipped after two days of gains on Wednesday, led by the DAX , which was hit by a bounce in the euro as well as deadlock in attempts to form a new German government.