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

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Reports on Schibsted Asa Class A

Ole Martin Westgaard
  • Ole Martin Westgaard

Schibsted (Hold, TP: NOK320.00) - Cautious distribution

Schibsted has announced a final agreement for the sale of News Media to the Tinius Trust and an intention to return NOK24bn to shareholders. We find the proposed distribution slightly on the low side as it will leave Schibsted debt free. Furthermore, we continue to find the proposed selling price for News Media low.

Ole Martin Westgaard
  • Ole Martin Westgaard

Schibsted (Hold, TP: NOK320.00) - All key segments set to disappoint

We are cautious ahead of Schibsted’s Q1 results (due at 07.00 CET on 26 April), expecting all the key segments to miss consensus on a combination of lower sales and higher costs. We reiterate our HOLD and NOK320 target price.

Schibsted ASA: 1 director

A director at Schibsted ASA sold 110,000 shares at 322.700NOK and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearl...

Ole Martin Westgaard
  • Ole Martin Westgaard

Schibsted (Hold, TP: NOK320.00) - News Media disguises softness

The Q4 report was soft, as the slight earnings beat was driven by news Media, which is set up for sale, while the outlook for Jobs and Lendo has led us to make slight reductions to our 2024e EBITDA. We reiterate our HOLD and NOK320 target price as we continue to see valuation support, with the stock trading in line with our SOTP.

Ole Martin Westgaard
  • Ole Martin Westgaard

Schibsted (Hold, TP: NOK320.00) - Time for reflection

Our Q4e EBITDA is 7% below consensus, driven by Nordic Marketplaces, as we see softer volume trends across the main verticals. We have raised our target price to NOK320 (290) but downgraded to HOLD (BUY), as the stock is trading in line with our SOTP adjusted for the potential selling price for Adevinta and News Media.

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