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BRIEF-Schibsted Q1 ebitda ex. investments above forecast, keeps guidance
May 12, 2017 / 5:28 AM / 4 months ago

BRIEF-Schibsted Q1 ebitda ex. investments above forecast, keeps guidance

May 12 (Reuters) - Schibsted Asa

* q1 ebitda ex investment phase nok 669 million (Reuters poll nok 615 million) vs NOK 635 mln in Q1 2016

* Schibsted q1 ebitda nok 434 million (Reuters poll nok 453 million) vs NOK 421 mln in Q1 2016

* q1 revenues nok 4,000 million (Reuters poll nok 3.94 billion) vs NOK 3.88 bln in Q1 2016

* Schibsted q1 pretax result nok 216 million (Reuters poll nok 274 million) vs NOK 219 mln in Q1 2016

* Keeps guidance of 15-20 percent revenue growth in online classifieds for mid to long term

* Full year investments in online classifieds are expected to go down compared to 2016, and the investments are expected to go down sequentially quarter by quarter in 2017

* Says French site leboncoin.fr holds significant long-term potential, there is room for increased market shares in verticals such as real estate, cars and jobs

* Says will continue to work for increased market shares in Spain, but still expects a competitive environment in real estate and a sluggish development for advertising

* The positive trend in terms of profitability development in Brazil is expected to continue during 2017, and the aim is to reach profitability for OLX Brazil during 2017

* Says if the current advertising market trends in media houses persist, further margin contraction is likely during the coming 12 months

* Schibsted repeats 2017 investments in technology and online product development will increase somewhat versus 2016 Source text for Eikon: Further company coverage: (Reporting By Camilla Knudsen)

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