Schibsted ASA (SCHA/SCHB) - Schibsted Marketplaces advances its simplification efforts

Schibsted ASA (“Schibsted” or “Schibsted Marketplaces”) today announced ongoing efforts to simplify its portfolio by exiting operations that are not considered core. 

Consequently, the company will initiate processes to exit the comparison service Lendo Group (Lendo, Compricer, Mybanker), e-commerce price comparison service Prisjakt, its skilled trades marketplaces (Mittanbud, Servicefinder, Remppatori, and 3byggetilbud.dk), as well as the Jobs marketplaces in Sweden and Finland. Schibsted Marketplaces also plans to divest a majority of its venture portfolio.

Christian Printzell Halvorsen, CEO of Schibsted Marketplaces, comments: “When I took over as CEO, I committed to simplifying our organisation and sharpening our focus. The actions we’ve announced today are decisive steps in that direction, significantly contributing to our ongoing journey of streamlining our organisation and our portfolio. We have a tremendous opportunity to build on our strong market positions, and these steps will enable us to concentrate on our four verticals, where we see the greatest potential for growth and long-term value creation. We expect to initiate sales processes for these entities in the next 9 months.”  

Within the Jobs vertical, Schibsted Marketplaces will focus on strengthening its leading position in Norway. As part of this focus, Schibsted Marketplaces will close Blocket Jobs and JobbSafari in Sweden, and is exploring options for exiting its Finnish job marketplace, Oikotie Jobs.

As the next steps, the company will present an update on the strategic and financial objectives at the Capital Markets Day on 19 November, focusing on growth and value creation.

Oslo, 23 October 2024

SCHIBSTED ASA