Schibsted 2011 results

Screen shot 2012-04-07 at 8.34.23 PMThe combined French and Spanish editions of Schibsted’s free papers 20 Minutes/Minutos showed lower profits in 2011 than in 2010 according to the 2011 annual report of the Norwegian media house.

In France (50% owned) revenues were growing (from €52m to €61m) but the cost increaed because of the expanded distribution. Profit was €2.5m (€3.6m in 2010).

In Spain results were heavely affected by the  economic situation, revenues dropped from €26 to €23m while the operation lost €3.6m in 2011.

The 20 minutes website is the third news website in France. The Spanish website is the third newssite in the Sapnish speaking world.

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