Schibsted may do bolt-on acquisitions on top of strong organic growth

Vend Marketplaces ASA

27/09/2016 10:02

OSLO, Sept 27 (Reuters) -  
    ** CEO Rolv Erik Ryssdal of Norway's Schibsted says the 
company is well positioned for further growth in online 
classifieds 
    ** Ryssdal spoke at an investor presentation in London on 
Tuesday: 
    ** "We are reaffirming our target for 15-20 percent growth 
in revenue for online classifieds." 
    ** "We have strong organic growth but we will also consider 
bolt-on acquisitions and joint ventures. We will focus on growth 
in the markets we are already in, but we will also look in 
adjacent markets." 
    ** "We try to be cautious and do a lot in the markets we are 
already in. We are among the more prudent players, that's why we 
have passed on some acquisitions that we found to be too pricy." 
    ** Board Chairman Ole Jacob Sunde said: "We have to balance 
the prices (of possible acquisitions) with the opportunities, 
since we have such a strong organic growth." 
 
 (Reporting by Camilla Knudsen, editing by Terje Solsvik) 
 ((camilla.knudsen@thomsonreuters.com; +47 2331 6595; Reuters 
Messaging: camilla.knudsen.thomsonreuters.com@reuters.net)) 
 
Keywords: SCHIBSTED OUTLOOK/GROWTH