SCH Schibsted Asa Class A

Schibsted ASA (SCHA/SCHB) - Share buyback

Schibsted ASA (SCHA/SCHB) - Share buyback

Schibsted has on 22 July 2019 purchased 152,040 own A shares at an average price of NOK 230.6683 per share and 93,330 own B shares at an average price of NOK 221,5734 at the Oslo Stock Exchange. After these transactions Schibsted owns a total of 694,267 own A-shares and 230,867 own B-shares. 



The transaction is part of the buyback programme that Schibsted announced 16 July 2019, stating an ambition to buy back up to 2% of the Company’s shares during Q3 2019.



Oslo, 23 July 2019 

SCHIBSTED ASA





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

219,9044

EN
23/07/2019

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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