Schibsted 2010 Q1 presentation May 2010

Transcription

1 Schibsted 2010 Q1 presentation May 2010 peckse [printed: July 10, :30 PM] [saved: July 11, :34 AM] \\ldnroot\data\ibd\sectors\projects\project_active\media\media Norge\Analyst presentation\draft analyst

2 Media Norge represents leading media house positions and the number one online classifieds player in Norway 1 Leading online classifieds player in Norway #1 general merchandises, car, real estate and jobs classified site REGIONAL NEWSPAPERS LOCAL NEWSPAPERS EVENING PAPER ONLINE CLASSIFIEDS ONLINE NEWS BUSINESS WEB SITE NICHE SITES 1 Leading media house in Norway s second largest city 1 Bergen 1 Leading media house in the Stavanger/Sandnes region Stavanger Kristiansand Oslo Leading regional newspaper in greater Oslo area Main newspaper coverage 1 (76.5% of Norwegian population) Some newspaper coverage Leading media house in Southern Norway Every second Norwegian aged 12 or more use Media Norge products daily 1

3 2 Schibsted is the majority shareholder 80.4 % 19.6 % Minority shareholders Board of directors Chairman: Rolv Erik Ryssdal Group management 13 members including CEO and Editor-in-chief of the media houses 39.9 % Industrial and support assets Print (including 60 % of Schibsted Trykk) IT Shared service centre Customer support 50.01%

4 Revenue breakdown and development Revenue breakdown FY2009 Revenue development 1) FY2009 vs. FY2008 Finn 16 % 100 % = NOK million Other 13 % 44 % Advertising Other Finn Circulation Change Percent % Advertising Circulation ) 2008 revenues restated for comparability figures does not include full year effect of local newspapers in Bergens Tidende and Fædrelandsvennen Figures do not include Media Norge s acquisition of Schibsted Trykk, effective from 1. Jan

5 4 Stabilizing profit margins through operational excellence and synergies Quarterly operating revenues and profit (EBITA) , NOK million Media Norge excluding Finn Finn Operating revenues Operating profit (EBITA) Operating margin (EBITA) % 7 % 5 % 4 % -2 % 2 % 1 % -8 % -6 % Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q % 45 % 44 % 45 % 47 % 37 % 35 % 30 % 36 % Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q Strong cash generation: FY09 EBITDA NOK 520 million

6 5 Current strategic aims MEDIA HOUSES ONLINE CLASSIFIEDS SUPPORT PRINT AND OTHER INDUSTRIAL FUNCTIONS Emphasize operational excellence in core areas (editorial, ad sales, circulation, online presence) Expand online classifieds further develop FINN as the preferred marketplace online Create lean back office and support functions to serve media houses Low costs, high quality Develop industrial functions (i.e. printing) to create winning positions in the Norwegian market

7 6 Continued focus on operational excellence and cooperation Operational excellence in media houses Focus on operational excellence in key functions in media houses Editorial production (templates, daytime and planned production), ad sales, circulation Profitability improvements Online News Positions Full commitment to improve profitability Integration of non-core services and common platforms Develop new products and services Making content suitable for new platforms Editorial Product and content cooperation content collaboration Editorial content: Common purchasing and content deals Operational coordination

8 Editorial cooperation gives better coverage and presentation

9 8 Development of online classifieds Classifieds Further develop FINN as the preferred marketplace online Online and print bundling Optimize products Reduce cannibalization

10 Fully centralized Partly centralized peckse [printed: July 10, :30 PM] [saved: July 11, :34 AM] \\ldnroot\data\ibd\sectors\projects\project_active\media\media Norge\Analyst presentation\draft analyst 9 Creation of lean support functions IT Centralized IT organization Common systems, platforms and infrastructure Accounting, payroll, invoicing Centralized organization for accounting, payroll and invoicing Customer services and CRM services Central organization serving Bergens Tidende, Fædrelandsvennen and Stavanger Aftenblad Central operations for CRM services serving Bergens Tidende, Fædrelandsvennen and Stavanger Aftenblad Ad sales MNO Sales established prior to merger Common sales towards key advertisers and agencies Ad production Improved cooperation On track for further improvements

11 10 Development of industrial functions Printing Integration of printing operations to improve sales and operations 60 per cent stake in Schibsted Trykk acquired, effective 1 January per cent market share on national market Distribution Studies to probe potential for increased integration in distribution

12 11 Cost reductions on track accumulated effects of NOK 500 million Accumulated cost effects of profitability programmes vs. cost base Q1/2009 Q2/2009 Q3/2009 Q4/2009 Q1/2010

13 12 Summing up Print Strongly believe in prosperous future. Working on further improvement. Online Profability and growth. New business models. FINN.no Strengthen our #1-position in online advertising. Develop new markets, expand value chain. Printing plants Cooperation, efficient improvements, coordinated sales on national market.