Brief: Schibsted Q1 ebitda ex. investments above forecast, keeps guidance
12/05/2017 06:01
May 12 (Reuters) - Schibsted Asa SBSTA.OL
* q1 ebitda ex investment phase nok 669 million (Reuters
poll nok 615 million) vs NOK 635 mln in Q1 2016
* Schibsted q1 ebitda nok 434 million (Reuters poll nok 453
million) vs NOK 421 mln in Q1 2016
* q1 revenues nok 4,000 million (Reuters poll nok 3.94
billion) vs NOK 3.88 bln in Q1 2016
* Schibsted q1 pretax result nok 216 million (Reuters poll
nok 274 million) vs NOK 219 mln in Q1 2016
* Keeps guidance of 15-20 percent revenue growth in online
classifieds for mid to long term
* Full year investments in online classifieds are expected
to go down compared to 2016, and the investments are expected to
go down sequentially quarter by quarter in 2017
* Says French site leboncoin.fr holds significant long-term
potential, there is room for increased market shares in
verticals such as real estate, cars and jobs
* Says will continue to work for increased market shares in
Spain, but still expects a competitive environment in real
estate and a sluggish development for advertising
* The positive trend in terms of profitability development
in Brazil is expected to continue during 2017, and the aim is to
reach profitability for OLX Brazil during 2017
* Says if the current advertising market trends in media
houses persist, further margin contraction is likely during the
coming 12 months
* Schibsted repeats 2017 investments in technology and
online product development will increase somewhat versus 2016
Source text for Eikon: urn:newsml:reuters.com:*:nGNEbKBTd5
Further company coverage: SBSTA.OL
(Reporting By Camilla Knudsen)
((camilla.knudsen@thomsonreuters.com;))