Annual report 2015

Board of Directors
Board of Directors

Board's report

Schibsted has made considerable progress during 2015 on the path to becoming a truly technology-based, global media company. A large number of highly qualified product and tech experts have joined Schibsted during the past 12 months, and we are happy to report that we will launch several new products in 2016. We firmly believe in the benefits of investing in new technology in order to leverage our global scale and maximize value creation for our customers, advertisers and shareholders. test

The reason is simple: the speed of development in Schibsted’s markets is accelerating. New technology and changing consumer behavior create opportunities and challenges for our media houses, our digital marketplaces and our growth businesses. To stay competitive, we must invest.

To secure productive use of our tech investments, Schibsted is implementing a new organization. The purpose is to support, speed up and streamline the product and tech development processes. Product and tech management are organized as central units, serving all our operating units. For users it will mean access to digital products which are frequently updated.

In Sweden and Norway, Schibsted holds strong leadership positions in both media and marketplaces. By combining these positions, we can capture, process and analyze user data and offer targeted and personalized solutions – not only for advertising, but also for editorial content and classified listings. The strong brands and traffic positions of our online classifieds operations outside Scandinavia also represent opportunities to develop ecosystems in these markets.

The ecosystem strategy is important to securing long-term competitive positions for all our business units. We are moving towards a world of logged-in users. Redefining the competitive landscape we will consider joining forces with other providers to reinforce our positions in areas of technology, access to user data and content.

During 2015 we established a B-share class, which will be an important tool when pursuing further growth. A dual share class structure will enable us to fully utilize the equity markets. In September 2015 we took advantage of the new model and raised NOK 2.6 billion in new equity. We plan to use the proceeds to strengthen our growth profile. In particular, we follow the consolidation trend in the online classified markets closely and have the financial and operational capability to strengthen our portfolio should relevant opportunities arise.

The United Nation’s sustainable development goal no 12 states: “Ensure sustainable consumption and production patterns.” Achieving economic growth and sustainable development requires that we urgently reduce our ecological footprint by changing the way we produce and consume goods and resources. With its online classifieds sites, Schibsted has created an arena for reuse where people can buy and sell items second-hand instead of buying new. The combined potential environmental effect of five of our marketplaces, could save 12.5 million tons of CO2 emissions annually. Every individual using these services has the power to help reduce the environmental impact in their daily life. For Schibsted, this goes hand in hand with our mission “Empowering people in their daily life”.

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