Schibsted ASA (SBBTF) Q1 2025 Earnings Call Highlights: Revenue Growth and Strategic ...
Group Revenue: NOK 2,015 million, a 4% year-on-year increase.
Group EBITDA: NOK 394 million, an 18% increase year-on-year.
Share Buyback Program: Initiated a NOK 2 billion program.
Special Cash Dividend: Planned NOK 500 million linked to proceeds from Adevinta.
Mobility Revenue: Declined by 1%; adjusted growth would have been 4% excluding certain factors.
Real Estate Revenue: Increased by 20%, driven by 18% growth in classified revenues.
Jobs Revenue (Norway): Increased by 5% despite a 10% volume decline.
Re-commerce Revenue: Declined by 6%, with a 30% growth in transactional revenues.
OpEx (excluding COGS): Declined by 9% year-on-year.
Net Loss: NOK 2.2 billion, impacted by a fair value adjustment related to Adevinta.
Cash Flow from Operations: NOK 257 million, up from NOK 10 million in Q1 last year.
Net Cash: NOK 1.4 billion at the end of the quarter.
Release Date: May 07, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive 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.
Negative Points
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.
Q & A Highlights
Q: Can you clarify the timing of the decision to sell the delivery business? Was there a strategic shift or change in performance that accelerated this decision? A: Per Morland, CFO, explained that there was no major strategic shift or change in the buyer landscape. The decision was part of a long-term strategy, and they are now ready to move forward with the sale.
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