At an investor meeting in Copenhagen Schibsted told attendees what Schibsted will focus on in 2014. Schibsted own Subito.it Leboncoin.fr Blocket.se Finn.no Infojobs Car4you Hasznaltauto.hu willhaben.at mudah.my ... and many other classified websites.
Two strategic pillars Media Houses Online Classifieds New Online Services We aim to be the global number 1 in Online Classifieds Advanced data analytics Seizing the digital growth opportunity in core markets Customer insights Payment services Powerful brands and digital platforms reaching ever more readers Technology platforms Organization & Competence SEB COPENHAGEN 2014 2
Digital transformation is accelerating Online revenue share development Percent 100% 46% 80% online revenue share 60% 64% 40% online EBITDA share 76% 20% online EBITDA share excluding new ventures 0% 2010 2011 Online classifieds 2012 Jan-Sep 2013 Media Houses online Media Houses offline SEB COPENHAGEN 2014 3
Online Classifieds SEB COPENHAGEN 2014 4
Online Classifieds Long term growth track record Revenue development, Online Classifieds NOK million 4 500 +13% Jan-Feb 2013 3 000 1 500 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 SEB COPENHAGEN 2014 LTM 5
Online classifieds Well balanced portfolio with steady development Large established - Consistent strong performance Other established - Large untapped potential Investment phase for long-term growth 2 333 2 000 1 663 1 317 1 139 930 713 664 569 162 164 190 -259 -419 -719 Jan-Sep 11 Jan-Sep 12 Revenue Jan-Sep 13 EBITDA Jan-Sep 11 Jan-Sep 12 Revenue Jan-Sep 13 EBITDA Jan-Sep 11 Jan-Sep 12 Jan-Sep 13 EBITDA Figures in NOK million SEB COPENHAGEN 2014 6
Online classifieds Steady growth, investments in new market positions Norway 1200 100% real estate and generalist Building new verticals like 1000 75% +10% 800 Million NOK Clear leader in jobs, cars, 600 50% 50% 49% 49% 400 25% 200 0 0% Jan-Sep 11 Jan-Sep 12 Revenues Jan-Sep 13 professional services and personal finance Focus on product development to meet competition from social networks Certain free services considered on the generalist vertical EBITDA margin SEB COPENHAGEN 2014 7
Online classifieds Solid position in France, room for further monetization of verticals France 1200 100% top 5 web page in France Clear leader in generalist. 1000 70% 69% 68% 75% 800 Million NOK Leading classifieds portal, Number 1 in cars Increasingly demanding 600 50% comparable figures Current real estate 400 +29% 25% 200 0 0% Jan-Sep 11 Jan-Sep 12 Revenues Jan-Sep 13 EBITDA margin cooperation agreement expires at the end of 2014 Modest adaption of the market offering in 2014 to prepare for the transition Source traffic rank: Comscore nov 2013 (page views) SEB COPENHAGEN 2014 8
Online classifieds Steady revenue growth, investments in new verticals Sweden 1200 100% Strong leader in generalist and cars 1000 75% Million NOK 800 60% 58% 50% 400 vertical Building positions in real 54% 600 Steady growth in a mature estate and jobs +13% 25% 200 0 0% Jan-Sep 11 Jan-Sep 12 Revenues Jan-Sep 13 EBITDA margin SEB COPENHAGEN 2014 9
Online classifieds Solid positions with good potential in Spain Strong positions in all verticals Generalist: #1/#2 Cars: #1 Real estate: shared #1 Jobs: #1 Substantially increased focus on traffic growth Reduced monetization, increased marketing cost in Q4 2013 and 2014 Complete product makeover (all verticals except InfoJobs) Talent and best practice from Schibsted SEB COPENHAGEN 2014 10
Online classifieds Profitable market leaders in several markets Country Position Visits per month Italy Leading in Generalist and Cars 80 million (+24% Y/Y) Austria Leading in Generalist and Real estate Close to leading position in Cars 21 million (+51% Y/Y) Ireland Leading in Generalist and the car market 17 million (+11% Y/Y) Malaysia Leading in Generalist, positive development in cars and real estate 35 million (+58%) Source traffic data: Schibsted internal figures web+mobile October 2013 SEB COPENHAGEN 2014 11
Online classifieds Continued investments in Online classifieds New ventures Significant step up in investments in 2013 has yielded strong growth in traffic and volume On a clear path to leadership in several markets Continued high investments in New ventures to be expected going forward SEB COPENHAGEN 2014 12
Significant investments and strong growth in Brazil Fierce competition against OLX in Brazil Continued high level of investments in Q4 2013, which will continue in 2014 Schibsteds Bomnegocio site performs better than OLX on quality and user engagement KPIs Total pages viewed New ads per day 500 50 000 Strong growth in 2H 2013, regained leadership for Bomnegocio +161% Y/Y 400 30 000 300 Million 40 000 20 000 200 100 10 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2011 2012 2013 Source: Schibsted Nov-2012 Dec-2012 Jan-2013 Feb-2013 Mar-2013 Apr-2013 May-2013 Jun-2013 Jul-2013 Aug-2013 Sep-2013 Oct-2013 Nov-2013 0 - Bomnegocio.com OLX.com.br SEB COPENHAGEN 2014 Source: Comscore 13
Media houses SEB COPENHAGEN 2014 14
World class digital media houses Steady online growth and continued print decline 8 000 60% 50% 6 000 Million NOK 40% 4 000 30% 20% 2 000 13% 12% 10% 11% 0 0% Jan-Sep 11 Jan-Sep 12 Jan-Sep 13 Offline revenues/Other Online revenues EBITDA margin 25% online revenue share in media houses 29% in VG and Aftonbladet 15% in Norwegian subscription papers Schibsted Growth a pure play online growth setup 16% growth in online advertising revenues Jan-Sep 2014 Continued decline for print advertising 15% decline Jan-Sep 2013 SEB COPENHAGEN 2014 15
World class digital media houses Single copy papers: Strong online growth and cover-price increases Norway Sweden 1600 60% 1600 60% 50% 50% 1200 40% 800 30% 16% 16% 16% 20% 400 Million NOK Million NOK 1200 40% 800 400 30% 11% 14% 20% 12% 10% 0 0% Jan-Sep 11Jan-Sep 12Jan-Sep 13 Offline revenues EBITDA margin Online revenues 10% 0 0% Jan-Sep 11Jan-Sep 12Jan-Sep 13 Offline revenues Online revenues EBITDA margin Online advertising share 64% in Q3 13 (54% in Q3 12) Main digital growth drivers are mobile and web TV SEB COPENHAGEN 2014 16
World class digital media houses Continued online growth and print decline Schibsted Norge Subscription newspapers 70% 3000 60% 2500 Million NOK 3500 50% 2000 40% 1500 30% 1000 Strong regional and national market positions Focus on online growth from advertising and digital subscription models Tight cost control in the print operations to offset continuous print advertising decline 20% 14% 10% 10% 500 10% 0 0% Jan-Sep 11 Jan-Sep 12 Offline revenues Jan-Sep 13 Online revenues EBITDA-margin SEB COPENHAGEN 2014 17
Digital subscription models launched in all newspapers Digital payment models are launched for all titles in Scandinavia Subscriptions to premium content in VG and Aftonbladet Metered model in Aftenposten Freemium models in regionals Example from Aftenposten: Complete Weekend + digital Digital SPiD login used in all papers Positive response in the market SEB COPENHAGEN 2014 18
Mobile fuelled online advertising growth continues Mobile traffic soars, and +55% Mobile advertising revenues 3 100 +134% Y/Y in Q3 Mobile ARPU +58% Y/Y in VG and +40% 2 000 mobile ARPU increases 2 100 Aftonbladet combined Schibsted controls the superior sites in 1 500 the Nordic mobile market Aftonbladet reaches 4 times as many readers as its closest competitor in Sweden Q3 2012 Q3 2013 VG reaches twice as many as its closest competitor in Norway Unique weekly visitors. Source: TNS/KIA Index SEB COPENHAGEN 2014 19
Strategic steps in 2014 SEB COPENHAGEN 2014 20
Strategic position 2014 Solid, broad digital footprint in Scandinavia A global leader in Online classifieds with continued strong growth prospects However Competition from global online companies For instance Google, Facebook, Linkedin, Ebay, Amazon, Naspers Need for constant innovation and rapid product development for instance on mobile platforms Require top competence in tech and data analytics SEB COPENHAGEN 2014 21
Building joint competence and services for both strategic pillars Media Houses Online Classifieds New Online Services We aim to be the global number 1 in Online Classifieds Advanced data analytics Seizing the digital growth opportunity in core markets Customer insights Payment services Powerful brands and digital platforms reaching ever more readers Technology platforms Organization & Competence SEB COPENHAGEN 2014 22
Global recruiting of new competence within data analytics and technology Pricing Churn modelling Conversion Segmentation Shared technological platforms SEB COPENHAGEN 2014 23
Creating a robust platform for scalability and growth Goal: Investment in data analytics and technology: Fast, flexible and cost efficient innovation and development processes, NOK 100-150 million will affect our EBITDA in 2014 LOCALLY DEVELOPED LOCALLY DEVELOPED Example: SUBITO.IT CLASSIFIEDS PLATFORM Example: AFTENPOSTEN.NO CORE PLATFORM EDITORIAL PLATFORM SEB COPENHAGEN 2014 24
Building up web TV offering in Norway and Sweden Tapping in to a fast growing, large market potential Web TV advertising market 2013 NOK 540 Newsclips million* Growth forecast +37% in 2014* Schibsted market share ~15-20% first nine Acquired entertainment months 2013 Short term investment phase with negative Talk shows EBITDA of around NOK 50 million Crime shows Norway+Sweden web tv ad market forecast +37% 736 Debates 2013 2014 *) Source: IRM MNOK 538 SEB COPENHAGEN 2014 25
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