TERJE SELJESETH CEO Schibsted Classified Media
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Transcript of TERJE SELJESETH CEO Schibsted Classified Media
Two strong strategic legs
European leader in rapidly growing online marketplaces
Leading positions in print and online spacein Norway, Sweden and International
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2
2 CMD 2010 - Terje Seljeseth - Schibsted Classified Media
Two strong strategic legs
European leader in rapidly growing online marketplaces
1
3 CMD 2010 - Terje Seljeseth - Schibsted Classified Media
Online classifieds have very attractive economics with a pot
of gold at the end of the rainbow
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Stage 1:
New launches
Stage 2:
Emerging leaders
Stage 3:
Established leaders
• Year 0-3
• In the pack
• Heavy investment
• Build a mass of
horizontal trading
volume
• Year 3-5
• Leaving the pack
• Around break-even
• Develop business
model and build
leading brand
• Year 5+
• 3-10x number 2
• 40-60% EBITDA
• Leverage audience into
advertizing
• Partner of choice for
professionals in
verticals
Age
Position
Economics
Focus
CMD 2010 - Terje Seljeseth - Schibsted Classified Media
SCM has an attractive portfolio with both established
leaders, emerging leaders and new launches
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New launches Emerging leaders Established leaders
CMD 2010 - Terje Seljeseth - Schibsted Classified Media
European leader in rapidly growing online marketplaces Blocket and Bytbil are market leaders in Sweden
3 548
1 175 1 175
217
Blocket Tradera Hemnet Bytbil
Wide lead over competition
(Unique weekly visitors¹, ‘000)
Source: Kiaindex, IDC1 As of the 19th week of 2009
² Based on Bloket/Bytbil revenues in 2008 divided by total unique internet users in Sweden
• Blocket is #1 in general
merchandise and cars
• Bytbil is #1 for car
dealerships
• Monetisation as driver of
success, while potential for
growth to come from
introduction of new features
(e.g., recently introduced
gallery product)
• Revenue yield per
Swedish internet
population of NOK50²
Remarkable return on Schibsted’s 2003 acquisition of Blocket
Leading online classifieds
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Leading online classifieds
European leader in rapidly growing online marketplaces FINN is the clear market leader in four key verticals in Norway
• #1 positions in general
merchandise, jobs, cars and
real estate
• Growing position in travel and
dating markets
• Norway’s #2 largest site in
terms of page views
• Innovative online business
directories (through former
Sesam)
• Revenue yield per internet
population of NOK179¹
FINN has #1 positions in four key verticals in Norway
Source: TNS Gallup, NAV, Opplysningsradet for veitrafikk, Norges eiendomsmegierforbund, IDC
¹ Based on FINN revenues in 2008 divided by total unique internet users in Norway
Jobs
Property
Maps
Dating
Cars
Boats
Bikes
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1
Professional
toolsGeneral merchandise
1
Travel
Services
Craftsman, cleaning, child care
Flights Hotels Last minute Packages
1
FINN has greater than 80% market share in four key verticals in Norway
7 CMD 2010 - Terje Seljeseth - Schibsted Classified Media
Our established leaders are not only highly profitable but
also continue to deliver growth
30,2
8,5
3,5
0,9
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Revenue/internet user
€, Q2 2010 annualized
Revenue growth
Q2 2009 – Q2 2010
32%
26%
10%
128%
Note: Growth is in reported currency (NOK for Finn, EUR for SCM assets)
Source: Schibsted Q2 report, Eurostat
47 %
60 %
50 %
37 %
EBITA margin
Q2 2010
CMD 2010 - Terje Seljeseth - Schibsted Classified Media
SCM has an attractive portfolio with both established
leaders, emerging leaders and new launches
9
New launches Emerging leaders Established leaders
CMD 2010 - Terje Seljeseth - Schibsted Classified Media
Emerging leaders continue to deliver strong growthAugust visit volumes
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+ 61% + 59% + 57%
Source: XitiCMD 2010 - Terje Seljeseth - Schibsted Classified Media
SCM has an attractive portfolio with both established
leaders, emerging leaders and new launches
11
New launches Emerging leaders Established leaders
CMD 2010 - Terje Seljeseth - Schibsted Classified Media
Our Blocket model is consistently outperforming other
generalist trading platforms – example France and Italy
0
500
1000
1500
2000
2500
3000
3500
4000
1 3 5 7 9 11 1 3 5 7
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Monthly page views, millions
eBay Classifieds = kijiji.fr + annonces.ebay.fr and kijiji.it + annunci.ebay.it
Source: Google Ad Planner
0
200
400
600
800
1000
1200
1 3 5 7 9 11 1 3 5 7
eBay classifieds
eBay Auctions
eBay Classifieds
eBay Auctions
France Italy
2009 2010 2009 2010
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Possible outcomes – if we succeed or not
Capabilities
Leadership On path to leadership No clear path to leadership
Product
Concept and core
Features
Usability
Marketing
Search engine
marketing
Branding
Performance management
Intensive coaching and
support
Systematic evaluation
Organizational
Development
Schibsted Way
We have established international capabilities to help our
businesses become leaders
CMD 2010 - Terje Seljeseth - Schibsted Classified Media
Diversified organization with hub structure
Oslo Hub
CEO
Finance department
Product & marketing
Performance management
Barcelona hub
Strategy and Business Development
Monetization
Stockholm Hub
Blocket rollout team
Core development team
Mobile dev
Remote Launch team
Singapore Hub
Rollout team
Business development
Application development
Schibsted Classified Media
1 457* employees in 22 countries
2 % of employees are “corporate people”
1 % of employees are based in Oslo
*HC not FTE. Q2 2010
Madrid hub
Application development
15 CMD 2010 - Terje Seljeseth - Schibsted Classified Media
We have an effective new-launch model, that we are planning
to scale up further
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• We have now
launched Blocket
clones in 14
countries outside
Sweden
• While market
circumstances differ,
all launches follow a
strong growth path
towards leadership
• We are developing
new launch
approaches to enter
a larger and more
diverse set of
markets (e.g. light,
remote launches)
Daily reach of new Blocket launches
% of internet population
Months since launch
2006-2007
2008-2009
2010
CMD 2010 - Terje Seljeseth - Schibsted Classified Media
Remote launches will make it possible for us to enter new
markets fast and very cost efficientlySCM will launch in some major markets in the months to come
17 CMD 2010 - Terje Seljeseth - Schibsted Classified Media