Schibsted report loses for 20 minutes in Q1 2013
The free newspaper operations of Norwegian Media House Schibsted in France (20 Minutes) and Spain (20 Minutos) showed a loss (EBITDA) of 23 milljon NOK (€3 million) in Q1 of 2013 against a operating revenue of 68 million NOK (€9 million).
In 2012 the EBITDA for both operations was 48 million NOK (€6.3 million).
20 Minutes France had a revenue decline of 20 percent in Q1 2013, 20 Minutes Spain saw revenues declining by 23 percent.
In both countries cost reductions have been realized or are still in progess.