| ONLINE CLASSIFIEDS (NOK million) | 2010 | 2009 |
| Operating revenues |
2,938 |
2,627 |
| Operating profit before income from associated companies, impairment loss and other revenues and expenses |
776 |
592 |
Schibsted has strong, profitable positions in the online classifieds markets in Norway, Sweden, France and Spain. This business area also includes a portfolio of classified ads websites that are in an Investment Phase in a number of different markets.
Main features in 2010
- Online Classifieds developed well in all markets in 2010.
- This business area had underlying growth of 23 per cent in its operating revenues (after adjusting for exchange rate fluctuations, the closure of print publications and acquisitions and sales of operations).
- Excluding Investment Phase operations, Online Classifieds had an operating margin of 34 per cent (32%), while investments in roll-outs in new markets had a negative effect on the margin.
Finn.no
Finn.no is the clearly leading online classifieds website in Norway. This company is the market leader in the field of car, real estate, recruitment and “marketplace” ads.
| FINN.NO (NOK million) | 2010 | 2009 |
| Operating revenues |
948 |
764 |
| Operating profit before income from associated companies, impairment loss and other revenues and expenses |
399 |
278 |
| Unique users Finn.no (million) |
2.3 |
1.9 |
Main features in 2010
- 2010 was a good year for all of Finn.no’s markets and the company achieved strong top line growth of 24 per cent and made a record profit in 2010.
- Real estate ads grew by 37 per cent while car ads and recruitment ads increased by 12 per cent and 32 per cent respectively. This growth was due to a combination of price and volume. Newcomers Finn Torget (marketplace) and Finn Reise (travel) also did well, with growth of 29 per cent and 37 per cent respectively.
- The operating expenses increased by 13 per cent compared to 2009. The growth in expenses was due to a higher level of activity in 2010 and higher expenses because of top line growth.
- Finn.no is still Norway’s largest website as regards the number of page views.
- The number of ads on Finn.no grew by 20 per cent compared to 2009 and is the highest number ever.
Hitta.se
Hitta.se is a purely online directory service and is the largest online directory in Sweden measured in traffic.
| HITTA.SE (SEK million) | 2010 | 2009 |
| Operating revenues |
342 |
306 |
| Operating profit before income from associated companies, impairment loss and other revenues and expenses |
95 |
51 |
| Unique users Hitta.se (million) |
3.4 |
2.5 |
Main features in 2010
- Hitta.se’s revenue grew by 12 per cent in 2010.
- The company has experienced steady growth in its sales and increased its share of the online directory segment.
- Hitta.se became the clear leader in the online directory market in Sweden, measured in traffic, in 2010.
Schibsted Classified Media (SCM)
All the Group’s online classifieds operations outside Norway are gathered under one management in Schibsted Classified Media. This company has established number one positions with good growth and high profitability in Sweden, Spain and France. It has also established new operations in a number of countries.
Newcomers in Schibsted Classified Media are reported as companies in the Investment Phase until they have achieved an operating profit (EBITDA) for at least four quarters in succession.
Main features in 2010
- SCM increased its underlying revenues by 21 per cent compared to 2009.
- SCM is focusing on further expansion and for this reason considerably increased its investments in new operations (Investment Phase) in 2010.
- SCM strengthened or maintained its strong traffic positions online in all markets in 2010.
- In December 2010, Schibsted increased its stake in leboncoin.fr from 50 per cent to 100 per cent and at the same time sold its shareholding in Car & Boat Media, which runs a car website in France.
| SCHIBSTED CLASSIFIED MEDIA (EUR million) | 2010 | 2009 |
| Operating revenues |
|
|
| Sweden |
65.2 |
51.8 |
| International |
128.3 |
107.3 |
| Investment phase |
15.3 |
13.3 |
| Print |
5.8 |
12.9 |
| HQ and eliminations |
(0.9) |
1.3 |
| Total revenues |
213.7 |
186.6 |
| Operating profit before depreciation and amortisation, impairment loss and other revenues and expenses |
|
|
| Sweden |
39.9 |
31.2 |
| International |
51.7 |
35.4 |
| Investment phase |
(28.1) |
(11.1) |
| Print |
0.7 |
(0.6) |
| HQ and eliminations |
(6.5) |
(2.9) |
| Total operating profit (EBITDA) |
57.7 |
52.0 |
| Depreciation and amortization |
(12.7) |
(10.9) |
| Amortization of excess values |
(7.5) |
(9.6) |
| Operating profit before income from associated companies, impairment loss and other revenues and expenses |
37.5 |
31.5 |
Established Phase
Sweden:
- Blocket’s/Bytbil’s operating revenues grew by 13 per cent in 2010, calculated in local currency.
- The growth is driven by volume, the development of new sources of income and strong developments for brand ads.
- The operating profit rose by 15 per cent, calculated in local currency, compared to 2009.
- Blocket’s traffic volume increased sharply in 2010.
International:
- The operating revenues rose by 20 per cent, and both Anuntis Segundamano and Leboncoin.fr increased their revenues sharply in 2010.
- Unemployment in Spain is still high and InfoJobs.net’s revenues were slightly lower than in 2009. The cost cuts compared to 2009 contributed to an improvement in the operating margin.
- InfoJobs.net maintained its clear position as a market leader in the form of traffic and number of ads in the Spanish market. The traffic to other websites, especially Leboncoin.fr, also increased sharply in 2010.
Investment Phase
- Schibsted Classified Media’s Investment Phase operations include activities in a total of 18 countries. In most of these markets, operations based on Sweden’s successful Blocket concept have been established.
- Investments were increased throughout 2010, both through the establishment of companies in new markets and as a result of more marketing in previously established markets.
- All the services developed well in 2010 in the form of traffic and advertising volumes.