SCH Schibsted Asa Class A

Schibsted ASA (SCHA/SCHB) – Invitation to today's conference call and Q&A regarding Adevinta's agreement to acquire eBay Classifieds Group

Schibsted ASA (SCHA/SCHB) – Invitation to today's conference call and Q&A regarding Adevinta's agreement to acquire eBay Classifieds Group

We hereby invite you to participate at Schibsted’s conference call and Q&A related to Adevinta’s acquisition of eBay Classifieds Group on 21 July 2020 at 11:30 CET.

Management participants:

CEO Kristin Skogen Lund

CFO Ragnar Kårhus

EVP Nordic Marketplaces Christian Printzell Halvorsen.

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

Participant Passcode: 907529

Norway:

Sweden: +46 (0)8 5033 6546

United Kingdom: +44 (0)330 336 9401

United States:

 

You can also follow the presentation slides (without audio, please call numbers above for audio) here: 

Attachment

EN
21/07/2020

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

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

ResearchPool Subscriptions

Get the most out of your insights

Get in touch