Schibsted Media Group has released its Q3 2014 report, showing operating revenues of NOK 3.56 billion. The Online classifieds segment increased its revenues underlying with 8 percent, 10 percent excluding Spain. The gross operating profit (EBITDA) was NOK 504 million (463 million).
"In Schibsted, we continue to focus on long term growth, and we are spending time and resources on strengthening our digital capabilities and develop our technological fundament. In October, we published our first Future Report, where we share some of the key trends that influence us and showcase some of the exciting things going on in our group," CEO Rolv Erik Ryssdal says.
"In Q3, the growth in online revenues and traffic continued. 55 percent of Schibsted's revenues came from online products, which is a growth from 48 percent in the same period last year," Rolv Erik Ryssdal says.
"Our Online classifieds operations have strengthened its market positions in the important French market, and we see good results of our many changes and improvements in Spain. At the same time we experience some headwind from the markets in Norway. In particular, the decline in the recruitment market is affecting the revenue growth rates there. I find it reassuring that Finn.no maintain high profit margins and at the same time keep working on innovation and development of the online market place of the future. This will ensure future revenue growth," Rolv Erik Ryssdal says.
"Schibsted continues its program of organic investments in new markets. We see strong growth in traffic across the portfolio, including markets like Brazil, Chile and Indonesia. As these markets mature, we will build significant value in these markets. Monetization is gradually being ramped up, and in Q3 the revenue growth rate in the investment phase portfolio was close to 70 percent," Rolv Erik Ryssdal says.
"Our Media Houses face significant challenges, as the print advertising market continues to decline rapidly. Our job is to adapt the cost base to the market development, and at the same time make sure we are at the forefront when it comes to online product offerings. Consumers and advertisers are embracing the changes we do, and it is encouraging to see that the subscription numbers for our newspapers show a positive trend as a result of our digital products," CEO Rolv Erik Ryssdal says.
Highlights of Q3 2014
(Figures in brackets refer to the corresponding period in 2013.)