Annual Report 2010

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Finn.no

  • Continued positive trend for Finn.no.
  • For the first time, Finn.no became Norway's third-largest website measured in unique users.
  • Finn was named Norway's fourth-best workplace by the Great Place to Work Institute in 2010, and the best in 2011.
  • Finn Reise (Travel) succeeded in generating significant profitability.
  • Finn became the largest in Norway in online brand advertising.
FINN.NO (NOK million)20102009
Operating revenues 948 764
Operating profit (EBITA) 393 277
Operating margin (EBITA) (%) 42 36

Finn.no is Norway’s definitive market leader in online classifieds, its core markets being car, boat, real estate, recruitment, market and travel.

In 2010 Finn.no has held its position of close to 100 per cent market share in the car and real estate markets, while the recruitment market has held a market share of around 80 per cent. Finn Torget (generalist marketplace) has experienced a significant growth in volume, while Finn Reise (travel) has had a very strong year and won significant market shares.

Growth is due to a combination of price and volume. Several steps were taken in 2010 to optimize online classifieds pricing and contract types, which has resulted in positive profitability trends in Finn.no’s key online classifieds areas of Recruitment, Real Estate and Cars. These three markets grew by 32, 40 and 12 percent respectively.

In some periods during 2010 Finn was Norway’s third-largest website measured in unique users and was the largest measured in page views throughout the whole year. During 2010 Finn also gained the leading position in online brand advertising in Norway.

PRODUCT CHANGES

  • Finn Oppdrag (trades and services), a marketplace for buying skilled trades and services, was launched as a beta version in 2010.
  • Finn Jobb (Finn Recruitment) had success with its search application management product, a product which makes the recruitment process easier for employers.

MEASURES IMPLEMENTED

  • Introduction of a standarized sales process with support from a newly-developed CRM system.
  • Decentralized product development for increasing the development rate through proximity to customers and users.
  • Schibsted Vekst AS formed. Will gradually own a number of companies that are in the start-up phase and that can have traffic provided via Finn and other owners in Schibsted Vekst.
  • Finn Eiendom AS (real estate) has acquired Flytteportalen AS, a company providing services in connection with removals.

AMBITIONS

  • Become the market leader with Finn Oppdrag.
  • Launch a mobile service that gains the same strong position for mobile as for online.
  • Become Norway’s best workplace in the Great Place to Work rankings and among the top ten in Universum’s rankings of the most attractive workplace for graduate technologists.
  • Strengthen the position as Norway’s largest in online brand advertising.

  • Facts about Finn.no (Content is updated)

    FINN.no is one of Norway’s most profitable and most visited online companies, and is the world leader in its business area. FINN.no is therefore one of the spearheads in the Schibsted group’s online activities.

    FINN.no, Norway’s biggest online classifieds website, was established in March 2000. FINN.no specializes in classified advertising and services for purchases and sales between private individuals as well as small and large enterprises. Today the site is visited by more than 4.1 million unique users every month, who spend an average of 17 minutes using this popular service.

    In 2010 and 2011, FINN.no was voted Norway's best workplace by the Great Place to Work Institute.

    Christian Printzell Halvorsen is CEO of the company, which is part of Schibsted Norge.

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