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CHANGE AND OPPORTUNITIES IN THE DIGITAL TRANSFORMATION

ROLV ERIK RYSSDAL, CEO Eierskapskonferansen, Oslo 9. juni 2015 A HISTORY OF INNOVATIVE DIGITAL GROWTH

1839 VARIOUS INVESTMENTS BY SCHIBSTED GROWTH Schibsted Publishing House 2005 2006 2007 2009 2010 2013 2014 established

INTERNATIONAL EXPANSION OF ONLINE CLASSIFIEDS 1996 1966 2003 2006- Schibsted Schibsted Schibsted Christian Schibsted acquires acquires acquires with Family Aftonbladet Blocket

175 1839 2000 YEARS 2015

1860 1995 1996 2000 2006 2008 2009 2013 2014 2015 Schibsted Nett Tinius Trust Finn.no Schibsted Schibsted Schibsted JV with Schibsted Schibsted is founded founded established launched acquires majority Classified Media Growth Telenor acquires acquires Naspers in Spanish online Founded Established established Milanuncious, operations in classifieds Avito in Morocco, Hungary and sells Anuntis and jobs establishes a JV Romanian and site Infojobs with Naspers Portugal operations

1992 Tinius Nagell-Erichsen, the great-grandson Schibsted Listed on of founder Christian Schibsted, established Oslo Stock the Tinius Trust as the main shareholder in Exchange Schibsted (26.1%).

2 NEW B-SHARE PROVIDES STABLE, LONG-TERM OWNERSHIP AND ENABLES FURTHER GROWTH

■ The Tinius Trust owns 26,1 % of Schibsted Media Group. ■ The share split allow the Tinius Trust to remain in control and at the same time access new capital for growth. ■ Keeps financial flexibility and strength.

Oslo børs, 1. juni 2015

3 RAPID TECHNOLOGICAL SHIFTS WITH HUGE IMPACT ON OUR BUSINESS MODELS

MOBILE/SOCIAL/PERSONAL ■ Relevant personalized contents ■ Push anywhere, any time ■ Higher technology cost ■ New global platforms WEB ■ Unlimited contents, searchable ■ Immediate delivery, any time ■ Zero marginal cost, PRINT ■ low average cost ■ Physically limited contents ■ Slow delivery ■ High industrial costs

~1995 ~2010

4 BRAKE AND ACCELERATE THE PRINT-TO-WEB SHIFT WAS BRUTAL

400 MNOK Print stillingsrubrikk Aftenposten 350

300

250

200

150

100

50

0 2007 2008 2009 2010 2011 2012 2013 2014 2015

6 SAVING COSTS ENABLES NEW GROWTH

7 THE SECRET TO GAIN GROWTH IN SHIFTS: RESOURCE REALLOCATION

We have invested over 12bn NOK in our online classifieds business SCM valuation* Accumulated investments in SCM 2006-2014 [million NOK]

14 000 52bn NOK 12 000

10 000

8 000 Acquisitions Organic spending 6 000

4 000

2 000

0 * Barclays SOTP 2006 2007 2008 2009 2010 2011 2012 2013 2014 valuation for SCM Feb-2015. For Note: 2014 organic spending is a forecast based on extrapolating the first three quarters of the year. Acquisitions is based on publicly disclosed events. illustration purpose, only

8 DISRUPTION & INNOVATION BETTER TO DISRUPT THAN BEING DISRUPTED: WE HAVE DARED TO DISRUPT OURSELVES

1998 2000 Spun off Finn as a separate company VG Nett established as a separate company

2010 2013 2014 VG Mobil established as a separate company We acquired Shpock Omni launched in

10 INVESTING HEAVILY IN TECHNOLOGY AND DATA

OSLO HQ

STOCKHOLM BARCELONA LONDON

11 ADDING STRENGTH THROUGH ALLIANCES 2013 + 2014: ALLIANCE WITH TELENOR AND NASPERS

13 BUILDING FOR STRENGTH AND FOCUS

SCHIBSTED SCHIBSTED PUBLISHING NEW MEDIA GROUP LOCAL OWNERS NORGE SVERIGE

14 KEY TAKE-AWAYS LESSONS LEARNED

BE THE DISRUPTOR ■ And organize accordingly

DIGITALIZATION ENABLES COMPETITION ■ New, innovative players remove inefficiencies

QUICK ADAPTION ■ New competitive scenarios arise fast

TRADITIONAL STRATEGIC PLANNING ■ Does not work anymore

16 ORGANISATIONAL CONSEQUENCES

FLEXIBILITY ■ Be able to act on change and opportunities ■ Experimentation, testing ■ Speed, little prestige and hierarchy

ROBUST & FINANCIALLY SOUND ■ Have the ability to absorb dramatic and unforeseen changes or events

BUILD COMPETENCE ■ Always develop the existing workforce. ■ Add new competence (like tech or ADA)

17 LOOKING INTO THE FUTURE

THE DIGITAL TRANSFORMATION… ■ It’s here to stay – and it will accelerate ■ Everything will be affected

IT’S A GLOBAL GAME ■ Strong international competitors

LOGIN BECOMES ESSENTIAL ■ From anonymous to identified web

DATA WILL BE KEY ■ Relevant and personalized experiences

Source: Mary Meeker’s 2015 Internet Trends Report

18 THE FUTURE IS NOW