Brief: Schibsted Q2 EBITDA above forecast
19/07/2016 06:01
July 19 (Reuters) - Schibsted Asa:
* Schibsted q2 ebitda ex investment phase nok 831 million
(Reuters poll 754 million)vs 753 mln in Q2 2015
* Schibsted q2 revenues nok 4,114 million (Reuters poll nok
4.04 billion) vs 3,803 mln in q2 2015
* Q2 operating profit NOK 357 mln (Reuters poll NOK 440 mln)
vs NOK 510 mln in Q2 2015
* Ebitda Of The Other/Headquarters Segment, Which Includes
Product And Technology Investments, is Estimated To Be Negative
Nok 650 million in the full year 2016
* On a medium to long-term horizon the target for annual
revenue growth remains at 15-20 percent
* Says french site leboncoin.fr to launch an improved
product offering in the job vertical in q3/q4 2016
* Continued investments are planned in native apps, like
Shpock, and the online classifieds operations during the second
half of 2016
* At the same time, investments are expected to be reduced
in most other markets, as the investment cycle is nearing the
end there
* This is a result of reduced marketing investments and
increased monetization
* In total, investments in full year 2016 are expected to be
in the area EUR 80-100 million (compared to EUR 95.6 million in
2015)
* In media houses the structural digital shift and the
transformation process are expected to continue
Source text for Eikon: ID:nHUG7RjKpH
Further company coverage: SBSTA.OL
(Reporting By Ole Petter Skonnord)
((olepetter.skonnord@thomsonreuters.com;))