Q1 2025 Schibsted ASA Earnings Call Transcript
Key Points
- Schibsted ASA (SBBTF) reported a 4% year-on-year increase in group revenues, reaching NOK2015 million.
- The company achieved an 18% increase in group EBITDA, amounting to NOK394 million, driven by strong performance in real estate and reduced operating expenses.
- A new NOK2 billion share buyback program was initiated, alongside a planned NOK500 million special cash dividend linked to proceeds from Adevinta.
- The real estate segment saw a 20% revenue increase, supported by a vibrant Norwegian market and strong ARPA growth.
- Schibsted ASA (SBBTF) successfully reduced OpEx excluding COGS by 9% year-on-year, reflecting effective cost management and workforce reductions.
- Advertising revenues declined by 30%, primarily due to the separation from media, impacting overall revenue growth.
- The exit from jobs in Sweden and Finland negatively affected revenue growth, with ongoing impacts expected throughout 2025.
- Re-commerce revenues declined by 6%, influenced by the phase-out of non-core revenue streams and a 42% drop in advertising.
- Mobility revenues declined by 1% in Q1, with challenges in the professional ARPA segment due to customer churn.
- The company anticipates muted total revenue growth for the remainder of 2025, driven by advertising revenue pressures and strategic business simplifications.
Good morning and welcome to Schibsted Q1 2025 results.
Thank you for joining us this morning. My name is Jann-Boje and I'm heading Investor Relations. As usual, our CEO Christian and our CFO PC will walk with the performance and developments in the quarter, and afterwards I will moderate a Q&A session where analysts can dial in with Microsoft Teams and use the raise hand function.
And now, without further delay, please let me hand over to Christian. The floor is yours.
Thank you, Jann-Boje and good morning, everyone.
I have previously compared the next phase of ships at history with writing an entirely new book. Well, today I'm happy to say that the first chapter of that book has started on a positive note with progress in the first quarter as we delivered growth across all our verticals and also continued to reduce our cost base as anticipated.
In parallel, we have continued
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