SCH Schibsted Asa Class A

Schibsted ASA (SCHA/SCHB) – Notice of Annual General Meeting 2020

Schibsted ASA (SCHA/SCHB) – Notice of Annual General Meeting 2020

Notice of Schibsted ASA's ordinary Annual General Meeting 2020 on Wednesday, 06 May 2020 at 10:30 CET is enclosed.

As a result of the COVID-19 pandemic, the Annual General Meeting will be held as an electronic meeting only. Consequently, it will not be possible to attend the Annual General Meeting in person. Information about how to attend the Annual General Meeting is set out in Appendix 1 to the notice.

The notice is distributed to all shareholders.

All relevant documents can be found on the company's website on: schibsted.com/ir/corporate-governance/general-meeting/

Oslo, 14 April 2020

SCHIBSTED ASA

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

Attachments

EN
14/04/2020

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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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