SCH Schibsted Asa Class A

Schibsted ASA (SCHA/SCHB) – Schibsted Employee Share Saving Plan 2020

Schibsted ASA (SCHA/SCHB) – Schibsted Employee Share Saving Plan 2020

Schibsted’s employee share saving plan (ESSP) continues in 2020 with saving in the Schibsted B-share.

Attached to this release is a list of primary insiders that have subscribed to the share saving plan for 2020. The subscribed amount disclosed is the total amount in NOK for 2020. Primary insiders can only change their savings amount once a year. The purchase price and the number of shares will be reported when allocations are made.

For more information on the employee share saving plan please refer to the disclosure published 09 April 2014.

Oslo, 15 June 2020

SCHIBSTED ASA

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

Attachment

EN
15/06/2020

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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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