SCH Schibsted Asa Class A

Schibsted ASA (SCHA/SCHB) – Invitation to the presentation of Schibsted's Q3 2020 results on 28 October

Schibsted ASA (SCHA/SCHB) – Invitation to the presentation of Schibsted's Q3 2020 results on 28 October

Schibsted ASA will publish its Q3 2020 results on Wednesday, 28 October at 07:00 CET.

Quarterly earnings release

Time: 07:00 CET

Publication of the Q3 results including interim report, presentation, and financials and analytical information.

Results presentation

Time: 09:00 CET

CEO Kristin Skogen Lund and CFO Ragnar Kårhus will present the Q3 results in a combined webcast and conference call. The presentation and following Q&A session will be held in English. The webast can be viewed live at .

Participants who would like to ask questions at the end of the presentation can dial in using one of the telephone numbers listed below. It will not be possible to ask questions on the web via chat.

Dial-in details:

Please join the event 5-10 minutes prior to scheduled start time.

Norway:

Sweden: +46 (0)8 5033 6574

Finland: +358 (0)9 7479 0361

Denmark:

UK: +44 (0)330 336 9125

US:

Other locations: Please choose one of the above

Confirmation code: 1289976

Please note that the moderated Q&A session after the presentation will replace the conference call for investors and analysts previously held at 14:00 CET.

As a result of the COVID-19 pandemic, it will not be possible to attend the presentation in person at our headquarters in Oslo.

Press/media can reach out to Schibsted’s Head of External Communications & Brand Management, Nathalie Kåvin ( ), to set up separate one-on-one interviews with CEO Kristin Skogen Lund.



 

Oslo, 21 October 2020

SCHIBSTED ASA

 

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

EN
21/10/2020

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Reports on Schibsted Asa Class A

Ole Martin Westgaard
  • Ole Martin Westgaard

Schibsted (Sell, TP: NOK290.00) - Muted growth continues

The Q1 results were above expectations on lower-than-expected costs, while growth continued to be muted. We reiterate our SELL as we continue to find the valuation high relative to growth prospects, but have raised our target price to NOK290 (280) on increased estimates.

ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Henrik Bartnes
  • Petter Nystrøm
ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Henrik Bartnes
  • Petter Nystrøm

~20% better on lower cost

Q1: Group EBITDA +17% vs cons on 9% lower cost. Confidence in targets. Cons '25 EBITDA +5%, stock up 5-10%

Ole Martin Westgaard
  • Ole Martin Westgaard

Schibsted (Sell, TP: NOK280.00) - Prisjakt sold at low price

Schibsted has signed an agreement to sell Prisjakt to eEquity for SEK500m. We find the price low, at c40% of our SOTP value, but find it positive that the company continues to simplify its portfolio to focus on Nordic Marketplaces. We expect a slightly negative share price reaction.

ABGSC Media Research ... (+3)
  • ABGSC Media Research
  • Henrik Bartnes
  • Petter Nystrøm

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