Schibsted 2008 annual report

Norwegian publisher Schibsted still believes in free newspapers:

Today, free newspapers are the most read newspapers in 12 European countries. After online newspapers, free newspapers have been the fastest-growing segment in the European advertising market during the past 10 years.

In France, Schibsted’s 20 Minutes’ (owned for 50%) total operation (including online) was making a “sound operating profit” of €700,000 (1.4% of revenue) in 2008. Schibsted claims to have captured advertising market share from Metro in France. The company employs 149 people.

20 Minutos Spain (80% ownership), on the contrary, made the first loss since 2004. The operating loss (EBITA) was €5.7m. The Spanish operation employs 243 people.

Also the Baltic operations suffered according to the annual report although it doesn’t break out data for the 15min (Lithuania) and Linnaleht (Estonia, 50%) free dailies.

In Russia Schibsted owns (66.7%) the Moi Rayon free weeklies in Russia with editions in St. Petersburg and Moscow.

Comments are closed.