In This Article:
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Group Revenue: NOK2,103 million, a 12% year-on-year increase.
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EBITDA: NOK337 million, a 3% increase from the previous year.
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Mobility Revenue Growth: 1% on a constant currency basis.
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Real Estate Revenue Growth: 11% increase in the quarter.
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Jobs Revenue (Norway): 4% increase despite an 8% decline in volume.
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Recommerce Revenue Growth: 7% increase in the quarter.
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Advertising Revenue Decline: 28% year-on-year decrease in Mobility and 20% in Recommerce.
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OpEx Excluding COGS: Declined by 1% year-on-year.
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Net Cash: NOK2.5 billion at the end of 2024.
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Net Loss: Minus NOK260 million for the group.
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Cash Flow from Operations: NOK279 million, up NOK42 million from last year.
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CapEx: NOK157 million, down 25% from the previous year.
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Dividend Proposal: NOK2.25 per share for 2024.
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Share Buyback Program: Acquired 4.6 million shares at a cost of NOK1.6 billion.
Release Date: February 07, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Schibsted ASA (SBSNF) reported a 12% year-on-year increase in group revenues, reaching NOK2,103 million.
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The company launched a new corporate brand, Vend, marking a significant step in its transformation into a standalone marketplaces company.
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The Mobility segment showed growth across all markets, with Sweden experiencing the strongest uplift due to professional and ARPA growth.
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FINN real estate achieved all-time high traffic for the third consecutive quarter, reflecting a strong market position in Norway.
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Schibsted ASA (SBSNF) plans to distribute NOK500 million in proceeds from asset sales within Adevinta as a special cash dividend, reinforcing its commitment to disciplined capital allocation.
Negative Points
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The company's performance was impacted by weaker advertising revenues, partly due to the separation from Schibsted Media and macroeconomic factors.
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Schibsted ASA (SBSNF) experienced a 28% year-on-year decline in advertising revenues, significantly affecting the Mobility and Recommerce segments.
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The company reported an operating loss of almost minus NOK1.4 billion, primarily due to an impairment loss in its Finnish marketplace operations.
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EBITDA for the Recommerce segment decreased by 13% year-on-year, resulting in a margin of minus 35%.
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The closure of jobs businesses in Finland and Sweden led to immediate revenue losses, with some associated costs taking longer to materialize.
Q & A Highlights
Q: Can you confirm the double-digit ARPA growth for real estate in 2025, and is it expected for both Q1 and the entire year? A: Yes, we aim for double-digit ARPA growth for real estate this year. It may be slightly lower in the first quarter, but overall, double-digit growth is expected for 2025.