Schibstead has released its Q2 2015 financial results showing strong growth across the board and in particular from its online classifieds businesses where revenues grew 16 percent (year on year) and EBITDA grew 32 percent.
Here are the overall Q2 financials: (Note: figures in brackets refer to the corresponding period in 2014.)
"Q2 2015 was a good quarter for Schibsted. Our Online classifieds operations grew revenue by 16 percent and the gross operating profit increased by 32 percent. Over the last few quarters we have made significant steps forward when it comes to organic growth, structural agreements and bolt on acquisitions. We see potential for good value creation through in-market consolidation," CEO Rolv Erik Ryssdal says.
"In Q2, our operations performed well in most markets. The development was positive in European established markets like France, Norway and Sweden. Spain was among the countries with the most noteworthy development, where the revenue growth is accelerating and margins are recovering well. This is not only on the back of the general economical improvements in the country, but also great execution by our staff there," Rolv Erik Ryssdal says.
"During Q2 and so far in Q3, we have strengthened our positions in several online classifieds markets through acquisitions and partnerships. In Ireland, we have joined forces with Distilled Media, providing us with a leading position in the Irish real estate market as well as a stronger leadership in generalist and cars. In Mexico we have reinforced our leadership through the acquisition of Anumex," Rolv Erik Ryssdal says.
"We are well equipped to continue to take part in consolidation in online classifieds markets. The successful establishment of a B share class in Q2 significantly increases our room for maneuver in this respect," Rolv Erik Ryssdal says.