Brief: Schibsted Q4 EBITDA slightly below forecast, maintains growth view
08/02/2017 06:00
Feb 8 (Reuters) - Schibsted Asa SBSTA.OL
* q4 ebitda ex investment phase nok 682 million (Reuters
poll nok 691 million)
* q4 ebitda nok 501 million (Reuters poll nok 506 million)
* q4 revenues nok 4,059 million (Reuters poll nok 3.98
billion)
* proposes 2016 dividend of nok 1.75 per share (Reuters poll
nok 1.84 per share)
* Schibsted keeps guidance of 15-20 percent revenue growth
in online classifieds for mid to long term
* leboncoin.fr has during 2016 built a significant revenue
base in real estate, and initiated in q4 monetization of
attractive recruitment vertical. Results so far are promising
* In relatively mature Scandinavian markets, positive trends
continued, whereas our operations in spain have during 2016
struggled to maintain high growth rates from 2015
* Within our other developed markets, Italy, Austria and
Ireland, have seen steady high growth rates during 2016
* Our progress in emerging markets continues, and it is good
to see that revenue growth in brazil accelerates. Our native
market place app shpock continues to set new records in terms of
downloads and user engagement
* Publishing activities in our media houses produced
improved ebitda margins in 2016 as a whole and in q4
* Decline in print advertising revenues is still a great
challenge. However, innovative approach to our digital news
products result in increasing revenues from subscriptions
* Says online classifieds investments in full year 2017 are
expected go significantly down compared to the eur 93.6 million
in 2016
* Says further margin contraction is likely in its media
houses during the coming 12 months if the current advertising
market trends persist
* Says investments in technology and online product
development in 2017 will increase somewhat compared to 2016, as
previously communicated
Source text for Eikon: ID:nGNE4KdWH8
Further company coverage: SBSTA.OL
(Reporting By Terje Solsvik)
((terje.solsvik@thomsonreuters.com;))