Annual report 2015

The share

Schibsted Media Group is a listed company, and our aim is that our shares should be perceived as an attractive investment. A competitive return should be based on a sound financial position and be ensured through long-term growth in the share price and a dividend. The company’s share price should reflect the company's long-term value creation.

The strategy and vision adopted by Schibsted’s Board implies that the Group’s operations must adapt quickly and develop rapidly. Schibsted’s capital structure must be sufficiently robust to enable us to maintain the desired room for maneuver and take advantage of value-enhancing opportunities in the context of the competitive dynamic and the fluctuations in general and economic conditions. In 2015, Schibsted’s Annual General Meeting decided to split the share into an A-share with 10 voting rights and a B-share with 1 voting right. The split became effective on 1 June 2015. This split increases Schibsted’s long-term financial flexibility by enabling the company to more freely access the equity market.

Established online classifieds operations contribute to strong, profitable growth. At the same time, Schibsted has an ambitious expansion strategy for its online classifieds businesses, and invests significant amounts through it profits on broadening the Group's international footprint. In addition, the Group invests in product development and technology across geographies. The media houses’ strong brands and market-leading positions contribute well to the Group’s cash flow.

The Schibsted share - key figures
2015
A-/B-shares*****
20142013***2012****20112010
Highest share price (NOK)* 324.00/309.00 243.70 201.95 120.00 91.35 86.4
Lowest share price (NOK)* 218.40/230.50 145.2 109.85 75.10 60.00 59.55
Shareprice at year end (NOK)* 292.20/282.10 236.85 200.60 117.75 74.45 86.00
Earnings per share* 5.79 -0.84 4.72 0.66 3.50 13.52
Earnings per share - adjusted* 3.17 -0.73 1.95 4.09 4.38 4.86
Dividend per share* 1.75 1.75 1.75 1.75 1.75 1.50
Average number of outstanding shares 218,135,315 214,777,470 214,547,174 214,053,846 212,041,428 206,675,014
Outstanding shares at year end 225,928,308 214,842,794 214,697,080 214,208,920 213,883,314 207,546,350

*) Historical figuresadjusted for the split in A- and B-shares effective as of 1 June 2015.
**) As proposed by the Board of Directors.
***) 2013 figures restated in 2014 to refelct the implementation of IFRS 11 Joint Arrangements.
****) 2012 figures restated in 2013 to reflect the implementation of IAS 19 Employee benefits.
*****) Listed on Oslo Stock Exchange as of 1 June 2015

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