While the most severe impact from Covid-19 will likely be seen in Q2, we view the current valuation as attractive as it only reflects the ownership in Adevinta and Finn. We see several potential catalysts to unlock Schibsted’s stub value, including acquisitions for Schibsted/ Adevinta, and a sell-down of its Adevinta ownership stake plus strong cash flow potential once the crisis abates – and stronger growth prospects within Distribution (packages and food delivery).
07 May 2020
Q1: Look beyond near-term weakness
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Q1: Look beyond near-term weakness
Schibsted Asa Class A (XPG:FRA) | 0 0 0.0%
- Published:
07 May 2020 -
Author:
Henriette Trondsen -
Pages:
15
While the most severe impact from Covid-19 will likely be seen in Q2, we view the current valuation as attractive as it only reflects the ownership in Adevinta and Finn. We see several potential catalysts to unlock Schibsted’s stub value, including acquisitions for Schibsted/ Adevinta, and a sell-down of its Adevinta ownership stake plus strong cash flow potential once the crisis abates – and stronger growth prospects within Distribution (packages and food delivery).