Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Schibsted Media Posts Loss In Q3 - Quick Facts

Schibsted Media Group (SBSNF.PK) Wednesday reported a loss for the third quarter, amid higher costs as well as increased tax rate.

Loss attributable to owners of the parent was 78 million Norwegian kroner or 0.73 kroner per share compared to a profit of 205 million kroner or 1.91 kroner per share last year. The prior-year results have been restated.

Adjusted earnings per share were 1.26 kroner while it totaled 2.00 kroner last year.

Pre-tax profit plunged to 33 million kroner from 338 million kroner in the previous year. EBITDA slid to 437 million kroner from 518 million kroner.

Operating revenues grew to 3.65 billion kroner from 3.52 billion kroner in the prior year.

The underlying revenue growth was 2 percent. The Online classifieds segments increased underlying revenues with 13 percent, and 17 percent excluding Spain.

Excluding Online classifieds Investment phase, the EBITDA was 672 million kroner, 4 percent higher than in the same period in 2012.

According to teh company, the tax rate was higher as a result of losses in startup operations for which no deferred tax assets are recognized. In addition, there are no tax benefits linked to the loss on the sale of Eesti Meedia.

Further, costs increased due to higher levels of activity in the growing online operations.

Schibsted sees continued revenue growth potential and a good margin outlook for its portfolio of established Online classifieds sites.

Register
To receive FREE breaking news email alerts for Schibsted asa and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks showed a lack of direction over the course of the trading day on Friday after failing to sustain an initial upward move. Despite the choppy trading, the Dow once again managed to end the session at a new record closing high. The major averages turned in a mixed performance on the day. President Barack Obama delivered a statement Thursday evening thanking members of Congress for voting to approve legislation granting the U.S. military the authority to train and arm moderate Syrian rebels fighting against the terrorist group known as the Islamic State. While the Conference Board released a report on Friday showing a continued increase by its index of leading U.S. economic indicators in the month of August, the pace of growth showed a significant slowdown compared to the previous month.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.