SCH Schibsted Asa Class A

Schibsted ASA (SCHA/SCHB) – Share buyback program completed

Schibsted ASA (SCHA/SCHB) – Share buyback program completed

Schibsted has on 09 March 2020 purchased 20,390 own A-shares at an average price of NOK 231.0905 per share and 40,000 own B-shares at an average price of NOK 219.9492 on the Oslo Stock Exchange. After these transactions, Schibsted owns a total of 3,543,657 own A-shares and 1,437,176 own B-shares.

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

Accumulated, Schibsted has bought back 2.00% of the shares since the program commenced. As a result, the share buyback program is completed.

Oslo, 10 March 2020 

SCHIBSTED ASA

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

EN
10/03/2020

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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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