
Shares in Schibsted SCHA.OL drop 7% after the Norwegian media group reported a miss on Q4 EBITDA line
Q4 EBITDA came in at NOK 337 million ($30.07 million), which J.P.Morgan and Jefferies say was 14% below consensus
"A difficult quarter of results with a mix of transition pains, selective investments and signalled competitive pressures," Jefferies notes
The broker says the misses in ReCommerce and Mobility can probably be attributed to the miss on advertising revenue due to the separation from Schibsted Media
JPM notes that the company has not provided an outlook for 2025, highlighting caution on market conditions and ongoing effects of the business separation and simplification, and says this could keep the shares in check
The stock is on track for its worst day since May 2024, if losses hold
($1 = 11.2067 Norwegian crowns)