SCH Schibsted Asa Class A

Schibsted ASA (SCHA/SCHB) – Mandatory notification of trade

Schibsted ASA (SCHA/SCHB) – Mandatory notification of trade

Rolv Erik Ryssdal, CEO of Adevinta ASA, bought on 16 May 2019 55,000 B-shares in Adevinta ASA at a price of NOK 81.2494 per share. After the transaction, Ryssdal holds 20,357 A-shares and 108,894 B-shares in Adevinta ASA.

Additionally, Rolv Erik Ryssdal sold on 16 May 2019 10,000 A shares in Schibsted ASA at a price of NOK 216.0712 per share and 20,000 B-shares in Schibsted ASA at a price of 199.5122 per share. After the transaction, Ryssdal holds 10,357 A-shares and 33,894 B-shares in Schibsted ASA.



Oslo, 20 May 2019

SCHIBSTED ASA

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

EN
20/05/2019

Underlying

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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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