Schibsted classified 2014
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Transcript of Schibsted classified 2014
1 SEB COPENHAGEN 2014
SEB Nordic Conference Trond Berger, CFO Copenhagen 9 January 2014
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Two strategic pillars
We aim to be the global number
1 in Online Classifieds
Seizing the digital growth
opportunity in core markets
Powerful brands and digital platforms
reaching ever more readers
Online Classifieds
Media Houses
New Online
Services
Customer
insights
Payment
services
Technology
platforms
Advanced
data analytics
Organization &
Competence
SEB COPENHAGEN 2014
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Digital transformation is accelerating
3
46% online revenue share
64% online EBITDA share
Online revenue share development Percent
76% online EBITDA share
excluding new ventures
SEB COPENHAGEN 2014
0%
20%
40%
60%
80%
100%
2010 2011 2012 Jan-Sep2013
Online classifieds Media Houses online
Media Houses offline
Online Classifieds
4 SEB COPENHAGEN 2014
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0
1 500
3 000
4 500
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 LTM
Online Classifieds
Long term growth track record
5
Revenue development, Online Classifieds NOK million
SEB COPENHAGEN 2014
+13% Jan-Feb 2013
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Well balanced portfolio with steady development
6 SEB COPENHAGEN 2014
Large established
- Consistent strong performance
Other established
- Large untapped potential
Investment phase
– for long-term growth
Figures in NOK million
Online classifieds
569 664 713
162 164 190
Jan-Sep 11 Jan-Sep 12 Jan-Sep 13
Revenue EBITDA
-259 -419
-719
Jan-Sep 11 Jan-Sep 12 Jan-Sep 13
EBITDA
1 663
2 000
2 333
930
1 139 1 317
Jan-Sep 11 Jan-Sep 12 Jan-Sep 13
Revenue EBITDA
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Steady growth, investments in new market positions
Clear leader in jobs, cars,
real estate and generalist
Building new verticals like
professional services and
personal finance
Focus on product
development to meet
competition from social
networks
Certain free services
considered on the
generalist vertical
7 SEB COPENHAGEN 2014
49% 49% 50%
0%
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Revenues EBITDA margin
Norway
Online classifieds
+10%
Mill
ion
NO
K
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Solid position in France, room for further monetization of verticals
Leading classifieds portal,
top 5 web page in France
Clear leader in generalist.
Number 1 in cars
Increasingly demanding
comparable figures
Current real estate
cooperation agreement
expires at the end of 2014
Modest adaption of the
market offering in 2014 to
prepare for the transition
8 SEB COPENHAGEN 2014
France
69% 70% 68%
0%
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Revenues EBITDA margin
Source traffic rank: Comscore nov 2013 (page views)
Online classifieds
+29%
Mill
ion
NO
K
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Steady revenue growth, investments in new verticals
Strong leader in generalist
and cars
Steady growth in a mature
vertical
Building positions in real
estate and jobs
9 SEB COPENHAGEN 2014
60% 58% 54%
0%
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100%
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Revenues EBITDA margin
Sweden
Online classifieds
+13% Mill
ion
NO
K
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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
10 SEB COPENHAGEN 2014
Solid positions with good potential in Spain
Generalist: #1/#2
Cars: #1
Real estate:
shared #1
Jobs: #1
Strong positions in all verticals
Monetization per user comparable
with top SCM operations
Reach
Revenue/IU
Online classifieds
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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%)
11 SEB COPENHAGEN 2014
Profitable market leaders in several markets
Online classifieds
Source traffic data: Schibsted internal figures web+mobile October 2013
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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
12 SEB COPENHAGEN 2014
Online classifieds
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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
Schibsted’s Bomnegocio site performs better than OLX on quality
and user engagement KPIs
13 SEB COPENHAGEN 2014
-
10 000
20 000
30 000
40 000
50 000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2011 2012 2013
New ads per day
+161% Y/Y
0
100
200
300
400
500
No
v-2
012
De
c-2
012
Jan-2
013
Feb
-2013
Ma
r-2
013
Apr-
2013
Ma
y-2
013
Jun-2
013
Jul-2
013
Aug-2
013
Sep-2
013
Oct-
2013
No
v-2
013
Mill
ion
Total pages viewed
Bomnegocio.com
OLX.com.br
Strong growth
in 2H 2013,
regained
leadership for
Bomnegocio
Source: Comscore Source: Schibsted
Media houses
14 SEB COPENHAGEN 2014
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Steady online growth and continued print decline
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
15 SEB COPENHAGEN 2014
World class digital media houses
13% 12% 11%
0%
10%
20%
30%
40%
50%
60%
0
2 000
4 000
6 000
8 000
Jan-Sep 11 Jan-Sep 12 Jan-Sep 13
Mill
ion
NO
K
Offline revenues/Other
Online revenues
EBITDA margin
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Single copy papers: Strong online growth and cover-price increases
Norway Sweden
16 SEB COPENHAGEN 2014
World class digital media houses
Online advertising share 64% in Q3 13 (54% in Q3 12)
Main digital growth drivers are mobile and web TV
16% 16% 16%
0%
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Jan-Sep 11Jan-Sep 12Jan-Sep 13
Mill
ion
NO
K
Offline revenues Online revenues
EBITDA margin
11% 14%
12%
0%
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20%
30%
40%
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60%
0
400
800
1200
1600
Jan-Sep 11Jan-Sep 12Jan-Sep 13M
illio
n N
OK
Offline revenues Online revenues
EBITDA margin
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Continued online growth and print decline
17 SEB COPENHAGEN 2014
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
World class digital media houses
Schibsted Norge
Subscription newspapers
14% 10% 10%
0%
10%
20%
30%
40%
50%
60%
70%
0
500
1000
1500
2000
2500
3000
3500
Jan-Sep11
Jan-Sep12
Jan-Sep13
Mill
ion
NO
K
Offline revenues Online revenues
EBITDA-margin
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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
SPiD login used in all papers
Positive response in the market
18 SEB COPENHAGEN 2014
Example from Aftenposten:
Complete
Weekend
+ digital
Digital
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Mobile fuelled online advertising growth continues
Unique weekly visitors.
Source: TNS/KIA Index
2 000
1 500
+55%
2 100
3 100
Q3 2012
+40%
Q3 2013
Mobile traffic soars, and… …mobile ARPU increases
Mobile advertising revenues
+134% Y/Y in Q3
Mobile ARPU +58% Y/Y in VG and
Aftonbladet combined
Schibsted controls the superior sites in
the Nordic mobile market
Aftonbladet reaches 4 times as many
readers as its closest competitor in
Sweden
VG reaches twice as many as its
closest competitor in Norway
SEB COPENHAGEN 2014 19
Strategic steps in 2014
20 SEB COPENHAGEN 2014
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Solid, broad digital footprint in Scandinavia
A global leader in Online classifieds with continued strong growth prospects
21 SEB COPENHAGEN 2014
Strategic position 2014
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
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22
Building joint competence and services for both strategic pillars
We aim to be the global number
1 in Online Classifieds
Seizing the digital growth
opportunity in core markets
Powerful brands and digital platforms
reaching ever more readers
Online Classifieds
Media Houses
New Online
Services
Customer
insights
Payment
services
Technology
platforms
Advanced
data analytics
Organization &
Competence
SEB COPENHAGEN 2014
Global recruiting of new competence within data analytics and technology
Pricing Churn modelling Conversion Segmentation
Shared
technological
platforms
23 SEB COPENHAGEN 2014
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24 SEB COPENHAGEN 2014
Creating a robust platform for scalability and growth
CLASSIFIEDS PLATFORM CORE PLATFORM EDITORIAL PLATFORM
LOCALLY DEVELOPED LOCALLY DEVELOPED
Example: SUBITO.IT Example: AFTENPOSTEN.NO
Fast, flexible and cost efficient innovation and
development processes, Goal:
NOK 100-150 million will affect our EBITDA in 2014 Investment in data analytics
and technology:
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Newsclips
Building up web TV offering in Norway and Sweden
Web TV advertising market 2013 NOK 540 million*
Growth forecast +37% in 2014*
Schibsted market share ~15-20% first nine months 2013
Short term investment phase with negative EBITDA of around NOK 50 million
25 SEB COPENHAGEN 2014
*) S
ourc
e: IR
M
Acquired entertainment
Talk shows
Crime shows
Debates
Tapping in to a fast growing, large market potential
736
2014 2013
+37%
538
MN
OK
Norway+Sweden web tv ad market forecast
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Clear strategic direction
Targeting global leadership in Online Classifieds
Building world-class digital Media Houses
Investing in talent and technology for innovation
and growth
1
2
3
SEB COPENHAGEN 2014
Q&A
27 SEB COPENHAGEN 2014