Q4 2024 Schibsted ASA Earnings Call Transcript
Key Points
- Schibsted ASA (SBSNF) reported a 12% year-on-year increase in group revenues, reaching NOK2,103 million.
- The company launched a new corporate brand, Vend, marking a significant step in its transformation into a standalone marketplaces company.
- The Mobility segment showed growth across all markets, with Sweden experiencing the strongest uplift due to professional and ARPA growth.
- FINN real estate achieved all-time high traffic for the third consecutive quarter, reflecting a strong market position in Norway.
- Schibsted ASA (SBSNF) plans to distribute NOK500 million in proceeds from asset sales within Adevinta as a special cash dividend, reinforcing its commitment to disciplined capital allocation.
- The company's performance was impacted by weaker advertising revenues, partly due to the separation from Schibsted Media and macroeconomic factors.
- Schibsted ASA (SBSNF) experienced a 28% year-on-year decline in advertising revenues, significantly affecting the Mobility and Recommerce segments.
- The company reported an operating loss of almost minus NOK1.4 billion, primarily due to an impairment loss in its Finnish marketplace operations.
- EBITDA for the Recommerce segment decreased by 13% year-on-year, resulting in a margin of minus 35%.
- The closure of jobs businesses in Finland and Sweden led to immediate revenue losses, with some associated costs taking longer to materialize.
Good morning, and welcome to Schibsted Marketplace's Q4 results. As usual, our CEO, Christian; and our CFO, PC, will present the key developments and financials for the quarter. (Operator instructions) In the presentation, all numbers, if not otherwise stated, are Norwegian kroner and revenue growth is on a constant currency basis.
And with this, without further delay, please let me hand over to Christian. The floor is yours.
Thank you so much, Jann-Boje, and good morning, and welcome, everyone. Today, I want to start with something extra exciting because in early January, we announced that we are launching a new corporate brand, Vend. And all the time since the split from Schibsted Media, it has been a key priority for us to build our own identity and become one integrated company.
And this new name, then clearly separate us from Schibsted and also
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