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Annual Report 2011
After reporting period
The balance sheet
Research and development activities
Business area analysis
Media Houses Scandinavia
Media Houses International
Going concern assumption
Statement of corporate governance
Dividend and capital structure
Declaration on management salary
Highlights in 2011
Schibsted Media Group has delivered good results for 2011.
An increased rate of investment in 2011 linked to the rolling-out of the online classified business in new markets has adversely affected the profit. All costs related to launching new websites are expensed.
The online classified services did well in many countries in 2011 and Schibsted is focusing on creating further growth. Future growth will come through the development of revenue streams for established operations and by rolling out established concepts in new markets.
Developments in the advertising markets in Scandinavia were positive in the first half of 2011, followed by a somewhat weaker development in the second half of the year. Revenues from online advertising were good throughout the year. The trend for paper was somewhat weaker.
New austerity measures have been implemented to reduce the cost base in the Media House Scandinavia business area.
In May 2011 the merger between Schibsted ASA and Media Norge was closed.
The transition to digital media means a considerable decline in the circulation of the Group’s single-copy sales newspapers and efforts are continuously being made to develop products and new revenue streams together with at high focus on costs.
2011 was characterised by the increased use and popularity of smart phones and e-readers. The online newspapers have seen a large growth in the traffic of the mobile services and several of the Group’s newspapers have been launched for Ipad. The development of user-payment models for digitally distributed editorial products is an important priority for the Group.
The Board of Directors proposes allocating a dividend of NOK 3.50 (3.00) per share for the 2011 financial year.
Report in pdf format
2011 Report with financial statement
2011 Text report only
2011 Financial statement