Schibsted 2012

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Schibsted 2012

  1. 1. London 28 February 2012
  2. 2. AgendaTime Subject SpeakerStart End12:00 - 12:30 Light lunch12:30 - 12:40 Opening remarks Ole Jacob Sunde, Chairman of the Board12:40 - 13:10 Shaping the media of tomorrow. Today. Strategic Direction Rolv Erik Ryssdal, CEO13:10 - 13:20 Q&A13:20 - 13:50 Schibsted Classified Media - Creating Winners Terje Seljeseth, CEO Schibsted Classified Media13:50 - 14:10 Finn.no - Further growth for an Established market leader Christian Printzell Halvorsen, CEO Finn.no14:10 - 14:30 Leboncoin.fr - Number 1 in French Online Classifieds Olivier Aizac, CEO Leboncoin.fr14:30 - 14:45 Q&A14:45 - 15:15 Break15:15 - 15:45 Media Houses Scandinavia Didrik Munch, CEO Schibsted Norge15:45 - 16:00 Q&A15:45 - 16:10 Leveraging our digital assets to create additional value Sverre Munck, EVP Strategy & International16:00 - 16:05 Q&A16:05 - 16:30 Finance Trond Berger, CFO16:30 - 17:00 Q&A + Wrap up Rolv Erik Ryssdal, CEO18:30 - 21:30 Dinner at the Andaz Hotel
  3. 3. Rolv Erik Ryssdal, CEO Rolv Erik Ryssdal became CEO of Schibsted on 1 June 2009. He joined the Schibsted Group in 1991 and has held several management positions including CEO of Aftonbladet (1999-2005), CEO of VG (2005-2008) and CEO of Schibsted Classified Media, the holding company for our international online classifieds operations (2008-2009). Rolv Erik Ryssdal holds an MA in Business and Economics from the BI Norwegian School of Management and an MA in Business and Administration from INSEAD, France. Trond Berger, CFO Trond Berger was appointed Executive Vice President of Schibsted ASA in 1999 and is in charge of the following business areas: Finance, Treasury, Investor Relations, Mergers and Acquisitions and IT. Previous positions include: Investment Director with Stormbull (1998), Executive Vice President (CFO) of Nycomed ASA andTo get back, Executive Vice President, Strategy and Business Development at Nycomed Amersham (1997-98), and partner at Arthur Andersen (1981-92). Berger is Board Chair of Schibsted Trykk AS and Schibsted Eiendom. He is also a board member of several Schibsted subsidiaries. Berger is a State-Authorized Public Accountant (1984), holds an MA in Economics from the BI Norwegian School of Management and is a graduate of the Norwegian Armed Forces’ Officer Candidate School (1977). Sverre Munck, Executive Vice President Strategy & International Sverre Munck joined Schibsted as Executive Vice President in 1994. In 2006 he became responsible for International Operations, and since 2009 he has been responsible for the business areas International Editorial and Classifieds Spain. He joined Schibsted as Chief Financial Officer (CFO) in 1994 and became Executive Vice President, Multimedia in 1998. In January 2002 he became CEO of 20 Min Holding AG and since October 2009 he has also held the position of CEO at Infojobs.net. Previous positions include: Director of Loki AS from 1987-94, a consultant with McKinsey & Co from 1984-1987, and Senior Consultant at the Norwegian Ministry of Finance’s planning department in 1984. He is Board Chair of 20 Minutes France SAS, 20 Minuten AG (Switzerland), Multiprensa Holding SL and Infojobs SA and Vice Chair of 20 Minutes France SAS. Munck holds a PhD in Economics from Stanford University (1983, NAVF scholarship), an MA from Stanford University (1978) and a BA from Yale University (1976).SIFICED’ viaicking off the 1
  4. 4. Terje Seljeseth, CEO Schibsted Classified Media In October 2009, Terje Seljeseth took up the position as CEO of Schibsted Classified Media (SCM), the holding company for Schibsted’s international online classifieds operations. At the same time, he became a member of Schibsted’s Group Management Team. Seljeseth was hired as IT Director of Aftenposten in 1998 and was assigned the task of starting FINN.no AS, where he was CEO until 2009. Terje Seljeseth has a background in IT and studied at Datahøgskolen and the University of Oslo. Trond Berger, CEO Schibsted Norge Didrik Munch is appointed CEO of the new entity Schibsted Norge AS and has been a member of Schibsted’s Group Management Team since August 2009. Munch was CEO of Bergens Tidende from 1997 before joining Media Norge as CEO in 2008. Munch is Board Chair of Bergens Tidende AS, Aftenposten AS, Stavanger Aftenblad AS, Fædrelandsvennen AS and FINN.no AS. Previous positions include Division Director of the business market at DnB and a police lawyer. Munch is a graduate of the Norwegian Police University College and has an MA in Law from the University of Bergen.To get back, Christian Printzell Halvorsen, CEO Finn.no Christian Printzell Halvorsen became the CEO of FINN in October 2009. He joined FINN in 2007 as Vice President of Strategy and Product Development. Before joining Schibsted, he worked as a management consultant for McKinsey & Company focusing on strategic technology issues in media and financial institutions. Christian Printzell Halvorsen holds and MSc in Computer Science from Norwegian University of Technology and Science in Trondheim, Norway. Olivier Aizac, CEO Leboncoin.fr Olivier Aizac (37) joined Schibsted in April 2006 to participate to the launch of leboncoin.fr. He has been General Manager of leboncoin.fr since then. Graduated from ESSEC, French School of Management, he has been working in the Internet industry for 12 years (Vivendi Universal, Hersant Media).SIFICED’ viaicking off the 2
  5. 5. Shaping the Media ofTomorrow. TodayRolv Erik Ryssdal,CEO
  6. 6. Disclaimer This presentation (hereinafter referred to as the "presentation") has been prepared by Schibsted asa ("Schibsted" or the "Company") exclusively for information purposes, and does not constitute an offer to sell or the solicitation of an offer to buy any financial instruments. Reasonable care has been taken to ensure that the information and facts stated herein are accurate and that the opinions contained herein are fair and reasonable, however no representation or warranty, express or implied, is given by or on behalf of the Company, any of its directors, or any other person as to the accuracy or completeness of the information or opinions contained in this document and no liability is accepted for any such information or opinions.To get back, This presentation includes and is based on, among other things, forward-looking information and statements. Such forward-looking information and statements are based on the current expectations, estimates and projections of the Company or assumptions based on information available to the Company. Such forward- looking information and statements reflect current views with respect to future events and are subject to risks, uncertainties and assumptions. The Company cannot give any assurance as to the correctness of such information and statements. Several factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by statements and information in this presentation. There may have been changes in matters which affect the Company subsequent to the date of this presentation. Neither the issue nor delivery of this presentation shall under any circumstance create any implication that the information contained herein is correct as of any time subsequent to the date hereof or that the affairs of the Company have not since changed. The Company does not intend, and does not assume any obligation, to update or correct any information included in this presentation.SIFICED’ viaicking off the 2
  7. 7. Global leader in Online 1 classifieds Strong cash flow from Media 2To get back, Houses Seizing the Scandinavian online 3 opportunitySIFICED’ viaicking off the 3
  8. 8. The Schibsted fundament Building on two solid cornerstonesTo get back, Online Classifieds Media Houses 14.4 billion in revenue 25 countries 7,200 employeesSIFICED’ viaicking off the 4
  9. 9. Well-managed digital transition Online growth Online share 14,4 15,2 % RevenueTo get back, 8,0 8,3 % EBITDA 2001 2001 2011 2007 2001 2011 5
  10. 10. Well-managed digital transition International expansion  Gradually built a strong European position over the past 10 yearsTo get back,  Selective approach in large growth markets in Asia Pacific and Latin AmericaSIFICED’ viaicking off the 6
  11. 11. Shaping the Media of Tomorrow. Today. People with values  We have integrity  We are innovativeTo get back,  We are a team  We are here to winSIFICED’ viaicking off the 7
  12. 12. A global leader inOnline classifieds 8
  13. 13. Ambitious target in a major market: Global #1 in Online Classifieds  Portfolio with strong inherent growth profile  Upsides in optimization Targeted M&ATo get back, and ―best practice‖ sharing Greenfield Investments  Investing in growth both Maturing of investment stage sites organically and through “Best practice” sharing greenfield investments Optimizing of established operations and targeted M&A Base Camp  Value creation is the ultimate measure 9
  14. 14. Online classifieds The winners take it all EBITDA margin Players that are much larger than #2 100% reap higher margins 50–70%To get back, 30–50% 5–30% Sources: 0% EBITDA margin 2010: Company reports and presentations 1x 3—5x 8—10x Size vs #2: Pageviews(AdPlanner), Size versus second player active objects where applicable,SIFICED’ via company presentations.icking off the 10
  15. 15. Online Classifieds Portfolio structure 3 years 5 years ReturnTo get back, Profitability Time Two new sites in profitable Established Investment phase as of Q1 2012 Start-up Traction EstablishedSIFICED’ via Operations in investment phase Operations in established phaseicking off the 11
  16. 16. Online Classifieds Economies of scale key to global success Joint concept and product development Marketing of the sitesTo get back, Site roll-out planning Price optimization Establishing new verticals Enhancing return - reducing risk 12
  17. 17. Online Classifieds Investing in the race to become #1  The window of opportunity is still open to create leading sites  Strategic approach, builtTo get back, on broad set of criteria  Market size, growth and wealth  Online penetration and growth  Competition and market risk  Evaluating greenfield opportunities as well as targeted M&A 13
  18. 18. Online Classifieds targets: Solid growth and high margins Online Classifieds ex. Hitta  Current portfolio set for 4 000 80 % 15%-20% annual growth 3 500 70 % rate 3 000 60 %  Growth upside from new 2 500 46 % 50 % 44 % investments and NOK millTo get back, 2 000 38 % 40 % acquisitions 1 500 30 %  Annual investment level of 32 % 33 % 31 % 1 000 20 % ~NOK 500 million - gradually lower drag on 500 10 % overall margin - 0% 2009 2010 2011 Revenue EBITDA Margin inc. New ventures EBITDA Margin Established Phase 14
  19. 19. Media HousesScandinavia 15
  20. 20. Media Houses Strong regional market leader Subscription based Single Copy Norway: #1 #1 Sweden: #2 #1To get back, Leading brands - quality journalism Strong media reach – print and online Powerful traffic drivers – launch pads for new services Solid cash flow – fully invested in traditional mediaSIFICED’ viaicking off the 16
  21. 21. Media Houses Strategic direction and actions Single Copy newspapers • Product development and focus on quality journalism • Optimize price and circulationTo get back, • Adjust cost base • Develop online positions – including user paid products Subscription newspapers • Product development and focus on quality journalism • Maintain stable circulation revenues • Consolidate and improve operational efficiency • Convert loyal subscriber base to digital productsSIFICED’ viaicking off the 17
  22. 22. Media Houses Well positioned in growing online market  Strong positions in both the 500 Advertising trends Print print and online domains 400  Print advertising is cyclical and NOK million 300 in structural decline 200  Scandinavia stands out, as 100To get back, print holds up better despite 0 world highs in online and 2005 2006 2007 2008 2009 2010 VG Print Global Daily Press (Indexed) mobile penetration 500  Internet advertising grows 400 Online sharply in Scandinavia as well as globally 300 NOK million  Remarkably resilient to 200 economic uncertainties 100  Several drivers continuing to 0 support the growth trend 2005 2006 2007 2008 2009 2010 VG Online Global Internet (Indexed) Source: IRM Media, Schibsted 18
  23. 23. Media Houses Outlook Continued high cash generation Media House – EBITDA and Capex  Well positioned, highly 1 600 cash generative and fully 1 400 invested in traditional 1 200 1 384 1 313 media 1 114 1 094 1 000To get back,  Expecting flat to slightly 800 NOK million declining revenue 600  Multi-lever approach to 400 manage decline in print 200  Online growth set to - continue (200) (270) (219)  Seeking to maintain strong (400) 2010 2011 cash flow EBITDA CAPEX EBITDA - CAPEX 19
  24. 24. Seizing theScandinavian OnlineOpportunity 20
  25. 25. New Online Opportunities Building high-margin businessesTo get back, Online Growth Media Houses Media Online Classifieds LEVERAGING OUR STRONG MARKET POSITIONSSIFICED’ viaicking off the 21
  26. 26. New Online Marketplaces Initial focus on Personal FinanceTo get back, 22
  27. 27. New Online Marketplaces Efficient Traffic Fund ModelsTo get back,SIFICED’ viaicking off the 23
  28. 28. Payment Solutions New lever of online traffic footprint  Single sign on and payment model for all Schibsted sites in Scandinavia  Online classifieds, marketTo get back, places, online newspapers  Easier payment of digital content and classifieds items  Opening access to online classifieds transactions  Relevant volume of NOK 350 billion on Blocket and Finn  Step by step development to minimize risk 24
  29. 29. Summing Up 25
  30. 30. Strategic direction Key takeaways Online GrowthTo get back, Online Classifieds Media Media Houses Continued profitable Seizing the digital Focus on cash flow growth growth opportunity Manage structural in core markets Targeting global challenges in print leadership Building digital revenue models Shaping the media of tomorrow. Today.SIFICED’ viaicking off the 26
  31. 31. 28
  32. 32. Schibsted Classified MediaCreating WinnersTerje Seljeseth,CEO Schibsted Classified Media
  33. 33. Ambitious 3-5 year target: Global #1 in Online Classifieds Targeted M&A Optimizing ofTo get back, established operations Maturing of investment stage sites “Best practice” sharing Greenfield Investments Base Camp 2
  34. 34. Online Classifieds 3
  35. 35. Not only migration Revenues from car classifieds 300 Aftenposten FINN.no 250 200To get back, 150 100 50 - 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 4
  36. 36. Not only migration but also finding new revenues Revenues from car classifieds Revenue FINN Torget 300 300 Aftenposten FINN.no 250 250 200 200To get back, 150 150 100 100 50 50 - 0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010 2011 5
  37. 37. - 10 000 000 12 000 000 14 000 000 16 000 000 18 000 000 2 000 000 4 000 000 6 000 000 8 000 000 2010 v28 2010 v30 2010 v32 2010 v34 2010 v36 2010 v38 2010 v40 2010 v42 2010 v44 2010 v46 2010 v48 2010 v50 2010 v52 Visits per Week, Blocket.se 2011 v02 Web 2011 v04 2011 v06 2011 v08 2011 v10 2011 v12 Mobile 2011 v14 2011 v16 2011 v18 2011 v20 2011 v22 2011 v24 2011 v26 2011 v28 2011 v30 Mobile % of Total 2011 v32 2011 v34 2011 v36 2011 v38 2011 v40 2011 v42 2011 v44 2011 v46 2011 v48 2011 v50 2011 v52 2012 v02 2012 v04 2012 v06 0% 5% 10 % 15 % 20 % 25 % 30 % Mobile is also a migration we will handle6Source: KIAindex.se
  38. 38. 7
  39. 39. History of growth 3500 3000 2500 2000 MNOKTo get back, 1500 1000 500 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Revenue MNOKSIFICED’ viaicking off the 8
  40. 40. Already a strong position 30 25 Billion page views/month 20To get back, 15 10 5 0 Naspers Ebay Schibsted Craigslist.org Classifieds ClassifiedsSIFICED’ via Doubleclick Ad Planner January 2012icking off the 9
  41. 41. Our “creating winners” pipelineLaunch Startup Traction Established 10
  42. 42. To get back, Launch Startup Traction EstablishedSIFICED’ viaicking off the 11
  43. 43. World class organizationTo get back, • Autonumeus local • Systematic best • Systematic strategy companies practice sharing implementationSIFICED’ viaicking off the 12
  44. 44. Low cost High cost Medium cost ProfitTo get back, Launch Startup Traction EstablishedSIFICED’ viaicking off the 13
  45. 45. Portfolio managementTo get back, Launch Startup Traction EstablishedSIFICED’ viaicking off the 14
  46. 46. The growth continuesTo get back, Launch Startup Traction EstablishedSIFICED’ viaicking off the 15
  47. 47. CustoJusto and Jofogas are ready to move up to the Traction Phase Custojusto.pt Olx.pt Jofogas.hu Vatera.hu Coisas.com Miau.pt Aprod.hu Expressz.hu 120 000 000 250 000 000 100 000 000 200 000 000To get back, 80 000 000 150 000 000 60 000 000 100 000 000 40 000 000 20 000 000 50 000 000 - - mar.09 mar.10 mar.11 mai.09 sep.09 mai.10 sep.10 mai.11 sep.11 jan.10 jan.11 jan.12 jul.09 jul.10 jul.11 nov.09 nov.10 nov.11 Page Views, Google Ad Planner 16
  48. 48. Subito and Willhaben are ready to move up to the Established Phase Willhaben.at eBay.at Subito.it Bakeca.it eBay.it Kijiji.it Bazar.at Kijiji.at 1 200 000 000 300 000 000 1 000 000 000 250 000 000To get back, 800 000 000 200 000 000 600 000 000 150 000 000 400 000 000 100 000 000 200 000 000 50 000 000 0 0 mar.09 mar.10 mar.11 mai.09 sep.09 mai.10 sep.10 mai.11 sep.11 jan.09 jul.09 jan.10 jul.10 jan.11 jul.11 jan.12 nov.09 nov.10 nov.11 jun.09 apr.10 jun.10 apr.11 jun.11 okt.09 okt.10 okt.11 feb.10 feb.11 des.09 des.10 des.11 aug.09 aug.10 aug.11 Page Views, Google Ad Planner 17
  49. 49. Experience has taught us to know whenwe are about to hit a home run 18
  50. 50. Huge upside if we succeed 2011 Revenues per Internet Universe * per country, Internet User* Millions Brazil 79 France 49 EUR 32 Italy 37 Spain 31To get back, Mexico 31 Indonesia 19 Malaysia 16 Philippines 8 EUR 10 Switzerland 8 Belgium 8 Sweden 8 Romania 8 Chile 7 Hungary 6 EUR 1,3 Austria 6 Portugal 5 Finland 4,5 Norway 4,5 Ireland 3,1 19 *) Google AdPlanner Audience January 2012
  51. 51. Summary  Launch team in Stockholm analyze the markets, launch test platforms and conducts planned experiments  Systematic evaluation of strategies for sites in the four stages of development based on earlier successes and failuresTo get back,  Continuous evaluation of portfolio ensures optimal use of investments  Specialized support teams in Oslo, Barcelona, Madrid and Singapore  Strong autonomous local sites with systematic best practice sharing between countries 20
  52. 52. FINN.noFurther growth for anestablished market leaderChristian Printzell HalvorsenCEO FINN.no
  53. 53. Key takeaways  FINN is strengthening an already strong position  Future growth will come from optimization ofTo get back, existing marketplaces, development of new marketplaces and mobile expansion  Building a high-performance innovation culture to attract talent and sustain future growthSIFICED’ viaicking off the 2
  54. 54. FINN has an impressive position in the everyday life of Norwegians  Brand awareness: 96% aided / 82% unaided 2011  2,5-3,1 million unique visitors per week. Norway’s 2nd-3rd largest website.To get back,  471 200 076 visits on FINN or 96 visits per Norwegian  3 988 618 days spent on FINN or 18.5 hrs per Norwegian  4,1 million ads with a total value of NOK 541 billion or 22% of GDPSIFICED’ viaicking off the 3
  55. 55. Strong positions in all verticals Vertical Position Market share Jobs #1 ~75% of advertised positions1 Real estate #1 ~100% of homes for sale2To get back, Cars #1 ~90% of used cars sold3 General merchandise #1 65-85% of online traffic4 Travel #2 2-50% of bookings / ads5 Services / craftsmen #1-2 ~40% of online job quote requests6 Display advertising #1 20-25% of online revenues7SIFICED’ via Note: Revised market share calculations. Not comparable to previouslyicking off the communicated numbers. Source: 1) NAV, 2) SSB/NEF, 3) Statens vegvesen, 4) 4 TNS/Alexa/internal estimates, 5-6) internal analysis, 7) INMA
  56. 56. Steady growth and strong, stable margins FINN revenues, MNOK EBITDA margin, % +24%1.200 46 46 48 50 45 45 43 41 421.000 39 36 40 800 30 600 1.135 17 948 20 400 738 691 173 576 200 100 133 398 10 43 63 267 0 0-200 -16 - 10-400-600 - 20 2000 2001 2002 2003 2004 2005 2006 2007 2008* 2009* 2010 2011 * Excluding Sesam 5
  57. 57. In Norway, FINN’s position iscomparable to Google’s onlinedominance in the US ESTIMATE FINN financials 2011 Google financials 2011 per capita, USD (US only*) per capita, USDRevenues 40 57 EBITDA 19 18 Note: Comparable results for Google (globally) in 2011 were 37,9 billion USD in revenues and 11,7 billion USD in income from operations. Assumed same distribution of revenues and income from US (47%). 6
  58. 58. Growth in all verticals in 2011 FINN revenues, MNOK 2009 2010 2011 299 265 Growth drivers: 220 219 230To get back, 216 Continued volume growth 196 167 159 Price optimization 116 110 New and improved 94 86 products 72 63 31 38 Jobs Cars Real General Travel Services Estate* merch. Established verticals Newer verticalsSIFICED’ viaicking off the * Excluding one-off revenues from sales of vacation rentals in 2010 (7 MNOK) 7
  59. 59. Future growth areas 1 Optimize existing marketplaces 2 Establish new marketplacesTo get back, 3 Mobile / multichannel 4 ”The marketplace graph” World class processes: 5 Innovation and SalesSIFICED’ viaicking off the 8
  60. 60. 1 Optimize existing marketplaces Examples • Price increases / decreases on C2C ads Conservative • Enhanced contract structures price optimization • Price differentiation and upsell productsTo get back, • Property projects / new homes Subverticals • Commercial properties • Aftermarket service for cars, boat, MC • Personalization Product • Targeted advertising upgrades • Social elements • Decision support • MobileSIFICED’ viaicking off the 9
  61. 61. To get back,SIFICED’ viaicking off the 10
  62. 62. After 1 year, FINN is tied for the lead in 2 the services for craftsmen market ESTIMATE Marketshare, % of job quote requests 70 % 60 % 50 %To get back, 40 % Mittanbud FINN oppdrag 30 % Anbudstorget Gulesider 20 % 10 % 0% jan.11 feb.11 mar.11 apr.11 mai.11 jun.11 jul.11 aug.11 sep.11 okt.11 nov.11 des.11 jan.12 Underlying market growth January 2012 20-25% YoYSIFICED’ viaicking off the Note: Excluding real estate and car services from MittAnbud 11
  63. 63. 12
  64. 64. Penger.no shows a promising start.2 Car insurance to be launched Q2 2012 Weekly unique visitors 30000 25000 20000 15000 10000 5000 0 40 41 42 43 44 45 46 47 48 49 50 51 52 1 2 3 4 5 6 Week 13
  65. 65. Mobile opportunities and risks. 3 >50% of visits from new channels by 2015 ESTIMATE Growth projection FINN.no Desktop and Mobile channels 90 000 000 Today = 17% 80 000 000To get back, 70 000 000 User sessions / month 60 000 000 50 000 000 40 000 000 Mobile 30 000 000 Desktop 20 000 000 10 000 000 0 01.09.2011 01.06.2008 01.09.2008 01.12.2008 01.03.2009 01.06.2009 01.09.2009 01.12.2009 01.03.2010 01.06.2010 01.09.2010 01.12.2010 01.03.2011 01.06.2011 01.12.2011 01.03.2012 01.06.2012 01.09.2012 01.12.2012 01.03.2013 01.06.2013 01.09.2013 01.12.2013 01.03.2014 01.06.2014 01.09.2014 01.12.2014SIFICED’ viaicking off the Assumptions: 3G+ penetration 2014E: 95%, Smartphone penetration 2014E: 75% (based on Morgan Stanley Research) 14
  66. 66. Mobile innovation is priority #1.3 Several products in pipeline 15
  67. 67. ”The marketplace graph”: 4 Verticals tied together by user data Volksvagen Passat “The mapping of everybody, all goods and services, and how they interact in the marketplace” Has testdriven USA july 2012 2 adultsTo get back, + 2 children Searching for Works at John FINN.no Owns Sells Owns Rating: 3/5 The ”classifieds graph” that we know today Toyota Yaris Eckersbergs 2007-mod Canon 7D gate 31, OsloSIFICED’ viaicking off the 16
  68. 68. Building a strong innovation 5 culture to sustain future growth FINN way of innovation FINNopp innovation tool FINN labsTo get back, FINNovation hackathon FINN sandbox FINN awardsSIFICED’ viaicking off the 17
  69. 69. Awarded ”best place to work” in Norway. 5 Focus on performance culture to attract talentTo get back, GPTW?SIFICED’ viaicking off the 18
  70. 70. Key takeaways  FINN is strengthening an already strong position  Future growth will come from optimization ofTo get back, existing marketplaces, development of new marketplaces and mobile expansion  Building a high-performance innovation culture to attract talent and sustain future growthSIFICED’ viaicking off the 19
  71. 71. 20
  72. 72. Leboncoin.frNumber 1 in Frenchonline classifiedsOlivier Aizac,CEO Leboncoin.fr
  73. 73. Leboncoin.fr : what is this ?To get back,SIFICED’ viaicking off the 2
  74. 74. What is Leboncoin.fr?  A free generalist 39,5 % reach in French classifieds website internet populationTo get back, More than 18 million ads  Blocket.se French little online sister launched in April 2006 6 billion page views per month  The #1 online player #1 position in Cars, Real Estate and Goods 3
  75. 75. Leboncoin.fr is the biggest market place in France Page Views per Month, Google Ad Planner 7 000 000 000 Leboncoin.fr eBay.fr 6 000 000 000 5 000 000 000To get back, 4 000 000 000 3 000 000 000 2 000 000 000 1 000 000 000 0 okt.09 okt.10 okt.11 feb.09 mar.09 feb.10 mar.10 feb.11 mar.11 apr.09 mai.09 sep.09 des.09 apr.10 mai.10 sep.10 des.10 apr.11 mai.11 sep.11 des.11 jun.09 jul.09 aug.09 jan.10 jun.10 jul.10 aug.10 jan.11 jun.11 jul.11 aug.11 jan.12 nov.09 nov.10 nov.11SIFICED’ viaicking off the 4
  76. 76. The clear #1 player in cars Number of cars in the database – Autobiz, Dec 2011 900 000 812 981 800 000 700 000 600 000 500 000 400 000To get back, 271 768 300 000 200 000 102 217 98 155 97 993 93 003 89 163 87 658 100 000 66 900 57 823 38 887 25 170 - AutoScout24 Autoreflex announcesjaunes ParuVendu Leboncoin* OuestFrance automobile Topannonces Argus Le Centrale-Caradisiac 321auto ebay PASIFICED’ viaicking off the 5
  77. 77. +404% +223% +67% +39% +26% Steady growth over 6 years UIP / day – monthly average 4 000 000 3 469 000 3 500 000 3 000 000 2 756 000To get back, CAGR 2 500 000 116% 1 979 000 2 000 000 1 500 000 1 188 000 1 000 000 500 000 368 000 73 000 0 12/2006 12/2007 12/2008 12/2009 12/2010 12/2011SIFICED’ viaicking off the 6
  78. 78. Leboncoin.fr is in the top 5 websites in France Google DoubleClick Adplanner – January 2012 facebook.com 39 000 000 000 orange.fr 10 000 000 000 live.com 6 400 000 000To get back, leboncoin.fr 6 400 000 000 youtube.com 3 600 000 000 sfr.fr 1 700 000 000 msn.com 1 300 000 000 yahoo.com 1 300 000 000 free.fr 1 200 000 000 pole-emploi.fr 1 100 000 000SIFICED’ viaicking off the 7
  79. 79. One of Schibsted’s most important growth drivers 100 100 % 76% 80 61 % 70 % 80 % revenue Million EURTo get back, 60 60 % 47 % growth Y/Y in 40 40 % 2011 20 20 % 0 0% 2009 2010 2011 Revenue EBITDA margin 8
  80. 80. Most recognised brand for online classifieds in France Top of Mind Unaided Aided Leboncoin.fr 40,0 % 59,2 % 85,8 % Ebay 21,4 % 45,0 % 83,4 % Priceminister 1,6 % 8,4 % 64,0 % Paruvendu 2,2 % 7,0 % 78,2 % Topannonces 3,6 % 51,2 % Vivastreet 0,4 % 4,4 % 29,2 %Annoncesjaunes 0,0 % 29,6 % Logicimmo 0,2 % 0,2 % 25,2 % Olx Segloger 5,4 % 32,8 % 9
  81. 81. High media awareness : More than2000 press clippings in 2011 10
  82. 82. The 2nd most searched word on google.frTo get back,SIFICED’ viaicking off the 11
  83. 83. How did we gethere?
  84. 84. A true child of the Schibsted roll out strategy  Launched in April 2006  French little sister of Blocket.se  50/50 Joint VentureTo get back,  Between Schibsted and Spir Communication  Schibsted acquired Spir’s shares in November 2010  Valuing the company at EUR 400 million (100% basis) 13
  85. 85. Why do 14 million French spend their spare time on leboncoin?  12 years of experience  Simple  A millennium in Internet  Placing an ad only takes a history few minutes. No subscription,  Easy few criteria, no paymentTo get back,  Immediate result in a single  Quality click  Ads are checked and  Proximity validated before going live. No duplicate ads, no Nigerian  Search is done by region on letters, no forbidden content. a map, everybody knows where he lives  Visibility  Navigation is more window shopping than search 14
  86. 86. A long-term business model  A real focus on user experience  Online classifieds is a competitive market  Agile and pragmatic business modelsTo get back,  Adapt to the competition and environment  Technical competence and autonomy  The site is constantly tuned to market needs  Entrepreneurial spirit
  87. 87. From a start-up to full-service company  Focus on product teams over the first years 12/2012  Build up local sales 145To get back, team and F&A 12/2011 88  In-source national sales 12/2010 team and strengthen all departments 41heads
  88. 88. Focus on diversifying revenues Local advertising Insertion Partnerships feesTo get back, B2C National services advertising B2B servicesSIFICED’ via Business is growing through many revenues linesicking off the
  89. 89. Mobile – a fast rolling train  iPhone app launched in December 2011  Already 1,3 million downloadsTo get back,  Developments on Android is next step  Clear direction to improve user experience and simplicity of use  Clear target:  Get same position on mobile as on the web
  90. 90. Media HousesScandinaviaDidrik Munch,CEO Schibsted Norge
  91. 91. POSITIONS What we do ACTIONS PLANS PROFITABILITY TRANSFORMATION IN PRINT TO DIGITALTo get back,SIFICED’ viaicking off the 2
  92. 92. POSITIONSMarket leaders in Scandinavia ACTIONS PLANS Local presence Number one positions in the most affluent cities in browser, mobile, print  No. 1 single copy paper  No. 1 in web TV NORWAY 1  No. 1 site by traffic  No. 1 mobile site Bergen Oslo 1 Stavanger  No. 1 subscription paper Kristansand  4 strong positions in 4 major cities SWEDEN  No. 1 single copy paper  No. 1 in web TV 1 Stockholm  No. 1 site by traffic  No. 1 mobile site  Stockholm’s quality subscription paper 2  Top high-end online destination 3

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