SCH Schibsted Asa Class A

Schibsted ASA (SCHA/SCHB) – Invitation to the presentation of Q4 2019 results

Schibsted ASA (SCHA/SCHB) – Invitation to the presentation of Q4 2019 results

We hereby invite you to participate at the presentation of the Q4 2019 results of Schibsted ASA on 13 February 2020.

Quarterly earnings release

Time: 13 February 2020 at 07:00 CET

Quarterly report, presentation materials, and spreadsheet with key figures and analytical information will be made available on the investor relations pages at .

Results presentation

Time: 13 February 2020 at 09:00 CET

Location: Schibsted’s premises in Akersgata 55, Oslo, Norway

The presentation will be webcasted live at . It will be presented in English. Participants can send in written questions through the webcast player.

CEO Kristin Skogen Lund and EVP CFO Ragnar Kårhus will present.

A recording of the presentation will be available on our website shortly after the live webcast has ended.

Conference call for investors and analysts – Q&A session

Time: 13 February 2020 at 14:00 CET

Questions relating to the results will be answered in a conference call. The session will be held in English.

    

NOTE: To avoid waiting time when connecting to the call, please use the link below 5-10 minutes prior to start time, where you will be asked to type in your phone number and registration details. The event conferencing system will automatically call you back on the phone number you provide and place you into the event. Please note that the link will become active 15 minutes prior to the event: Link to join call:

For manual dial-in, use the following number (note that this connection might take more time):



Passcode: 86 13 43

For additional phone numbers, please visit .

A recording of the conference call will be made available at .

Oslo, 06 February 2020

SCHIBSTED ASA

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

EN
06/02/2020

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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