Good morning. I would like to welcome you to the presentations of the quarterly financial results for the fourth quarter. I know that those of you who follow us on webcast, and I will try to speak clearly. We have an agenda which is slightly longer than what we normally have. That is because we have invited Christian from FINN to tell us a bit about what's happening in the company and the plans going forward. There's a lot of interest in it. Tron and I will go through our regular items, and I will go straight to the point. In classifieds, we see a continued positive growth for our websites, both for the larger established sites and also for the new ventures.
I have said repeatedly that we don't have, that sometimes when I present, I say we don't have many news, but today we do have. In classifieds, that is the acquisitions of Milanuncios, which is a large and interesting website that has grown significantly the last few years, and also a merger in Morocco. I will be coming back to that. Investments in new ventures are still at a high level. This is a conscious and focused effort because we feel that we see positive growth from the investments. We also see that in media houses, we invest a lot in digital transition, not only in VG and Aftonbladet, which are clear market leaders, but also in the other parts. The trend is the same for print.
It's still under pressure, but there's a good cost control, while at the same time investing in new products. If we look at the key figures... margins before investments is at a sound level, and you can see that there is this good growth in online classifieds performance. It grows by more than 20%. For the media houses, the level of the financial results is also at a good level, more or less level with last year's. This shows the breakdown of revenues and profits. Earlier this year, someone asked me when Schibsted would achieve 50% of total revenues for digital services, and I answered that it would happen in the course of 2014. It happened during the last quarter of 2013.
If you look at this increase, it was a 42% quarter-on-quarter. It is a strong growth. This simply is also a sign of the digital transformation that we are in the midst of and which will continue. Next, I would like to go into some more details on classifieds. For classifieds, we report a strong growth. The large websites deliver strong results on revenues and achieve the revenue growth of 15%. Spain, well, I believe that we do see some indications of a pickup in the Spanish economy, but it is a large country and the macroeconomic situations have been more severely hit than others. Therefore we report the figures, you know, exclusive of Spain and also including Spain, 15% and 20%, relatively speaking.
We also see a healthy traffic volume for many other sites. If we look at FINN, we see that FINN reports a very strong financial result, good growth in the top line and also a strong growth because they have a very good cost control. Not all parts are going the same, but what we do see a declining trend on is recruitment advertisements, and this continues into the new year. Therefore, we expect that the macroeconomic development will be weaker this year in Norway than in previous years. Because FINN is so large, it will have an impact on FINN, particularly when it comes to recruitment advertisements. The developments and also the strategic developments will continue.
Part of the private listings on FINN will be turned into a free model, we believe that that will be important for those who will also increase volumes and traffic. In the short term, it will also have a negative impact on the financial reports, not far from the figure that you see here. I feel certain that this is the right thing to do for the long-term development of FINN, Christian will be coming back to this later in the presentation. Blocket reported a strong growth, the fourth quarter in 2013.
It develops well. Sometimes I've been there, I've been blaming the weather for declining activities, and now I have to be honest, the weather has probably also been a benefit for Blocket because sometimes if you have a very cold winter, then they just leave their cars and don't put them up for sales. This mild winter is probably something that Blocket has benefited from. We see also a slight volume improvement, because if you buy a new car, then you will on the Blocket, you will also sell your car on Blocket. We've also had the new verticals that I mentioned before. We see an interesting development. We have now come to almost 50% of all real estate objects, that is, houses and flats are listed on Blocket. When it comes to recruitment ads, Blocket has been one of several players.
Recently they have also finalized the acquisition of Stepstone in Sweden. With the combined efforts of Blocket, Stepstone and jobs, we believe that the future looks good. leboncoin also concluded 2013 on a positive note. What I think is particularly positive is that the organization is able to deal with the growth and continues to develop its website and grow volume. Therefore we also see that the number of new ads keep rising. I'll also note that leboncoin has achieved a very strong position in display ads in the French market and that's also helped them in the fourth quarter. We've also seen a good improvement in the car market. We're also preparing for the for the real estate market because agreement expires at the end of the year. Also in Spain, Milanuncios. Oh, sorry, Anuntis.
We completed the acquisition last year and then we have Segundamano, Fotocasa and Coches, and then we have InfoJobs. There is another site in Spain which has developed strongly over the past few years called Milanuncios. It's a new entrepreneurial website, a good programmer that has built up this website. They only have a handful of personnel, but they have done what we have done to build up traffic in the early phase. Not that much about monetization. Therefore he has been able to build up a website that has reached a critical size. This site consists mainly of classifieds, but it also has a part of contact sites. We haven't bought this one, so this will be divested. We have targeted the classified site.
We have entered into an agreement with him, and he has such a strong confidence in it that he wants to come with us in the new venture. Therefore it is... He will then get the amount of cash that you see here, but also that the founder will get a 10% of the shares. If we see this in conjunction with the other websites and positions that we have in Spain, we think that Spain is looking to be a very interesting ventures. Of course, we have to look at the macroeconomic developments. We believe that there are interesting indications and that we can build sound positions here. We continue to invest in emerging markets, and we have established a joint venture with Telenor. It's up and running at the moment and has come off to a good start.
Investments continue at a relatively high level, which I will also be coming back to in a minute. I would like to say that we see what we do in other emerging markets. In Morocco we have been present for a while fighting with another player. This other player is owned by Avito. Avito is the company that operates the large classified site in Russia. They've also tried to set up operations in other markets, Morocco being one of them. Both parties have agreed that it will be sensible and practical to join forces. It's still in an early phase. Morocco is an emerging market and therefore we have made an agreement with them which entails that we will take over 51% stake in the company.
They have rigged the company in such a way that it is well financed for future growth after the transaction. I believe that this would also mean that we are looking at interesting opportunities when the site is up and running. All right. What about investments? People have asked questions. I mean, you're spending a lot of money on investments, what can you show for it? I've seen that They are also subject to competitions, we're showing new ads, they can report good growth. Here you see Brazil, also in other selected sites, the number of listings continue, that is important in an early phase. A lot of questions that are put to us concern Brazil, therefore, I would like to show you this statistics from an independent source.
If you look at the two bottom ones, we are the dark line, and OLX, our competition, which is the light blue graph. Here you see a good development for both sites. In recently, the official metrics show that we are slightly ahead, and of course, we are satisfied to note this. I will move on to comment on Media House performance. For the Media Houses, the same macro trends continue. Print advertising declined in the whole Norwegian and Swedish market last year, and there is no indications of this changing. The important thing is, of course, to develop new sources of income. Schibsted has made substantial investments. I see that we have achieved some growth, both when it comes to advertising revenue and not least, payment products.
If we look at the digital flagships, VG and Aftonbladet, they still report strong performances. Both have leading positions in their markets. They have also grown in mobile solutions. I spoke to Tori and he said that they have made all the time high traffic reported 1.2 million apart from Sundays, VG TV. Once, the mobile phones are put on, then we can see the increase in volume. Also, Aftonbladet reports a very strong growth. For the large subscription-based papers and houses, we see that the margin is lower than before, but cost control is good and there's a lot of emphasis on product development on print, but particularly on digital.
If we look at what happened in the last quarter of 2013, we see that all the subscription based papers have paid online subscriptions. You've probably noted that. Also we see Bergens Tidende ended the last years of new, more, new paid digital subscriptions than they started the year with. I will be coming back to Web TV, but we also made an acquisition in Sweden last year in personal finance, and it's doing well. This is not the largest activity, this first growth investment. At Hitta, we have initiated some measures. We have reorganized the company, and it's very good, and I would like to encourage everyone to try it. We've also made an investment in the so-called Prêt d'Union, peer-to-peer lending club in France.
Also, it seems to be moving along positively. I mentioned investments in big data, et cetera, earlier. On SPiD, we continue to roll out the system on new sites, and the next one that we will be rolling it out to is Blocket. I note that we've already achieved a large number of users and also when it comes to credit card solutions. We see that once they connect the credit card systems, the increase for buying is up. This increases the interest in our services, but it also creates us data that we can use to create even better and improved products and services. We have also said that it is important to build up competencies, advanced data analytics. If we're going to break it down, it's all about these things that you see here.
Churn is what we used to call the hole in the bag in Aftenposten. How many subscribers do we lose a year? Why do we lose them? It's the same here. What kind of behavior does people display and how can we use it? What can we do in terms of conversion? This is increasingly important because many of the people who are fighting for subscription and advertising money, especially US companies, they are very good at user data, and we are building our competencies in this area. Therefore, we have said that this will also have an impact on our financial results this year. I believe that this is required and very good investment for us. Similarly, I would like to leave you by commenting on our TV ventures.
Web TV is growing fast these days, and we also see that advertising is also increasing here. The interest in advertising there is increasing. Also the Sweden and Norway Web TV have grown. The market and advertisers are interested in increasing their investments there. All the big houses cooperate in VGTV, and it is developing very strongly. We have many formats that are interesting, and the same thing is happening in Sweden. We see that we need to go along. We need to invest in building up staff, and it is increasingly interesting. We see that there is great enthusiasm, good growth, and I believe that this will also result in a very interesting product development for us.
It will mean that we will be investing some money this year, but this will probably be the area that grows fastest in Norway the next year. That was what I interested in saying first, but I would like to give the floor to Christian Printzell Halvorsen. You are the head of FINN, and you've been in charge for more or less five years, and he will go into further details about the future and how they see the future. Thank you. Those who followed us at the Capital Markets Day this autumn heard my ideas of future development for FINN, especially what that we will be using advanced data analytics like Rolf mentioned.
One thing that we have been working on in the autumn and also into the new year is plans for how we will build up the Marketplass 2.0, the marketplace for the future in Norway. Before I comment on the strategic direction, I would like to say that FINN has continued to maintain a strong position in Norway. It did not change last year. Actually, we strengthened our position both when it comes to use, especially when it comes to mobile solutions. We more or less doubled the use and visits last year, but also the revenue per capita. This gross merchandise value on FINN, that is the value of goods advertised on FINN. Last year, it totaled almost NOK 600 billion, and this is a very sizable amount.
I would like you to note this because it's also reflected in some of the actions that we've taken, especially when it comes to mobile phone solutions. We sat down, and when we started to see what we wanted to do going forward, it was based on the strong position that we had, and we discussed what we could do in order to strengthen our position further to create tomorrow's marketplace. What we decided was that the next generation of marketplaces needs to be more social and need to engage people more, and that we wanted to increase the engagement around FINN as a marketplace. This doesn't mean that we will be forgetting the success formula so far. We will continue with today's marketplace.
The strong focus that we've had on mobile developments in the last few years, we will be going forward full speed. If you're going to develop good mobile services, we also need to simplify our services, remove barriers, for example, through mechanisms such as SPiD. That is also part of the developments in our marketplace. Going forward, we will also be introducing 2 completely new elements. That we've so forth only had at pilot projects. We've tried and failed a bit. One thing is social mechanisms. The world is increasingly social and sociable, and people like to create networks and communicate. They know. We know that they communicate when they trade on FINN and that it creates engagement.
They talk about the house they bought, they talk about the car they bought, and we wanted to facilitate for social engagement around our services. The last circle is what we have called a recommended content, and this is mainly driven by advanced data analytics. In future, we will not only offer you what you are searching for, but also understand your user patterns so well that we will also be offering products and services that you didn't even know existed on FINN. We are saying that we will be offering you relevant content in the right context. It is based on the same mechanisms that we use for targeted advertising.
I thought that I would go through some examples of these, our new mobile services, how we intend to simplify the services, and also what we mean when we talk about social services or sociable services. FINN launched new mobile services in August of last year, both mobile web services and apps. We've seen a strong growth both in terms of traffic and revenues for that matter since then. We are very satisfied with the launch we did in August. I showed you this on the Capital Markets Day, I thought that it might be good to repeat some of the principles that we've used, because they are mainly based on the circles that you saw on the previous slide.
We developed these mobile services on a change in user patterns. We see that when you use your mobile phones, you have less time than when you're sitting at your desk in front of your PC. We need to speed up the service. You don't have time to spend a lot of time searching if you're waiting for the tube or tram for 2 minutes. Therefore, we have also driven the development for recommended and personalized content. So far it's fairly focused. We don't always hit it spot on. This is what we will be working on going forward. We see that people will be using all the devices like iPads, phones and PC or laptops at the same time. We need to personalize the searches so that you can move freely between the channels.
That is also an important area for us to explore. When we make these contents more personalized, it also creates opportunities for creating more sources of revenues. We will also be thinking of how we can explore this more going forward. All right, social network effects. We have so far only seen the start of it. As I said, by way of introduction, we know that our contacts engage people, and now we want to invest heavily in creating more product features that support the social interaction and similar things. We also know that having profiles, as you see at the top personal profiles here, may help increase the confidence in our website.
The people feel safer if you know who you're trading with, whether that be a business or a personal, especially if it's a business or positive feedback and recommendations. We know that consumers have greater confidence in what other people say about a business or a trader than what they say themselves. We want to also create a follow feature that you can follow a business or follow a trader. We have started, already there are more than 80,000 followers of certain businesses. We know that communication is important in trading.
We've seen it at FINN, and we've seen it in other markets, and this is something that we will attach great importance to in the future, that you should be able to communicate easily with the one you're trading with, but also that you should be able to share contents with your friends. We have already created some mechanisms to increase control, and that means that we also have a better control on fraud attempts, et cetera. The last arena that we are working on is creating arenas for local or interest-based trading. We see that there are many people who would like to trade in their local areas or if they have, for instance, a particular interest or hobby, and we would like to facilitate for such communities.
As a basis for the social communication, identity is an important foundation, and the core feature is SPiD, which is now a Schibsted Payment ID and payment profile. We are applying it to Finn both as an identity mechanism so that we can use it as a basis for the profiles, the identity profiles and also for payment systems. Where we are today, where you can pay for your Finn ad through a SPiD account. In the future, you will also be able to pay for the products you shop. You don't have to bring cash. For instance, if you want to trade with someone on Finn, you can pay through a peer-to-peer payment solution. This will probably be introduced in the second half of this year.
When we're able to create an identity across the various sites in FINN, we also see that it will help us generate more targeted and focused products, and we can more easily personalize the products compared to what we're doing today. That is important if we have recommended contact as one of our strategies for the future. Rolv Erik mentioned initially that we have chosen to turn parts of the FINN torget, the general items for private sellers into a freemium model. We believe that this is a good and long-term strategy, both to reinforce the position we already have and to come into contact with new target groups, but that we can use this also to increase volume and drive users and move them to other verticals and other business models.
We envisage that this will help us increase the listings volumes by making the FINN generalist torget free. Also that people are, you know, also interested in having an environmentally aware profile. We believe, you know, that you should recycle things secondhand uses. Therefore, we believe that this platform will strengthen this trend, but that it will also lay a foundation for new business models. When we increase the listing volume, our traffic will also increase, and the content will also, as I've said repeatedly, help drive traffic to other verticals where we have great opportunities for monetize our products and services. The knowledge that we have about our users, the data we have will also increase through these strategies, and that would also help us to create more personalized services.
Peer-to-peer payments will also increase if our volume increases. We will then have other mechanisms for making money than simply through the ads. Like Rolv Erik said, it has certain impacts on our revenue flow. In the short term, 3%, it will be 3% of our revenue, but we believe that these strategic measures will have a greater impact on the future. We believe that we will do a gradual introduction of the new pricing model, the freemium model, in the first half of 2014. We intend to do some experimenting along the way to test various free products and services models in Norway. At the moment, we're thinking that this will particularly be for the private seller market because this FINN torget consists of a business part and a private part.
The basic classifieds listings will be free, but any add-on products will have to be paid for. We also believe that it will increase our listing volume by somewhere in the region of 3-5-fold. If we go back to the recommended contents element, why is this so important? Historically, FINN has mainly focused on advertisements or classifieds, and the premise has been that it is the users who come to the ad and find what they're looking for. What we do see is that the consumer patterns is changing, among other things, are driven by social media and other things where content is delivered to you without you having to search for it.
What we are in the process of doing is to turn this model upside down, that not only will the users come to the ads and classifieds, but the classifieds will also be coming to the users. We know that we have a lot of content at FINN, but we know that there are many users who are either not able to look up and find the content that they are interested on or are not able to do so. If we can help them find relevant content that they didn't even know existed, then I believe that there is a pot of gold at the end of the rainbow. This is basically at the core of this feature. Advanced data analytics is a foundation for this.
I have already mentioned examples for how this can be used, I would like to show you an example of a commercial product where this has a potential, and that is in the recruitment market. Currently the situation is that perhaps only 20% that actively go out to hunt for a job. We know that 80% may accept the new positions if the right opportunity comes along. Therefore, we would like to show our ads to this proportion too. If, for instance, today, you post a vacant position on FINN, and then we have Sarah, who's actively hunting for a new job that searches for it. Tomorrow we have Liv, who is not actively hunting for a new job. By using SPiD, we can create a profile of her across the Schibsted universe.
If, for instance, she reads Aftenposten, then she will probably find a relevant ad that may interest her and that she may apply for. This will also cover other needs. This was some of the examples, but by way of conclusion, I would like to mention that we have decided to consolidate our initiatives under personal finance services under the FINN umbrella. Why have we done this? That brings me back to the figure that I said later. The gross merchandise value, it totals close to NOK 600 billion during a year. We know that a lot of these products either have to be funded or financed or insured.
This fact, along with the fact that FINN is an excellent traffic engine and has the ability to drive such traffic, and also because FINN has already good established or developed relations with banking and financing over some years, then this can strengthen this element under our umbrella. Therefore we will merge the penger.no and Lendo under FINN. Our ambition is to build a broad portfolio of personal finance services which will help consumers to make good financial decisions. The first wave, so to speak, of services have already been launched. Housing loans, Lendo concerns consumer loans. We have car loans and energy, electricity services.
We will be aiming to create a similar market base as the one we have in Sweden, because FINN, penger.no and Lendo will have estimated revenues in 2014 of over NOK 100 million. I would also like to say that this is in an early phase compared with the sites in Sweden. Therefore we must be prepared to make further investment in it earlier. To sum up, FINN has fantastic positions and we're building up tomorrow's marketplace. On the top of this platform, we believe that simpler, more mobile services, more social mechanisms, more recommended contents driven by advanced data analytics. We're also working to improve and develop peer-to-peer payments to build up the freemium model. We will be consolidating everything concerned with personal finance services under FINN, and this is part of the initiatives that we are launched. Thank you.
Thank you very much. All right. Next is to go through the figures. The fourth quarter is a strong quarter for us. We report continued growth in revenues, but it's particularly good growth in classifieds and also relatively stable performance in the media houses. As you can see, we report a 15% growth in classifieds and also margins that are on par with the situation in the past few years. If we disregard the investments that we charge to our income statements, and FINN, Blocket, and leboncoin are of course those that account for the major investments. The media houses, you see here, slightly up in there in Norway and Sweden, but overall speaking, we're satisfied with the trend.
If we compare Q4 of 2013 with 2012, we see that it is primarily classifieds that report strong growth, but we've also increased investments so that we have increased investments by NOK 168 million. If we compare the profits NOK 501 Q4 2012 with the same quarter, the previous years. We have good cost control in Schibsted, and if we look at the developments in costs over the quarters, we see that there is a currency effect. Most people have seen that euros and Swedish krona strengthened during the autumn. We've also invested in growth companies that account for a substantial amount, but we've also seen that we have reduced costs in more traditional operations.
If we look at the income statement quarter on quarter, for the fourth quarter, we see that we increased investments charged to operating expenses by NOK 168 million. We have made some depreciations. IFRS means that we need to make a continuous assessment of what is the fair value, and therefore, we have also reported an impairment loss. We've also seen that there are some positive financial impacts to the joint ventures. In terms of performance of the financial items, we report a strong result, and we also believe that taxes is more or less the same because we don't have any tax deductions that we plan. We are conservative when we invest in new markets, only those that we see a future for. All right.
What are the special items in the Q4? We have impairment loss. We have restructuring costs of NOK 141 million. Sweden is particularly the one that accounts for most of the restructuring costs of Spain, and the Norwegian also for some. We also have NOK 1,536 million of gains, mainly the share sale of shares. We'll talk about Brazil, but we've also reduced the ones from the collaboration with Singapore. Sweden, we've also achieved NOK 130 million in gains for the sale of a premises or building in Bergen, and we're very satisfied with the price we achieved. We also have a stable, strong financial positions.
We have net interest bearing debt vis-à-vis EBITDA at 0.6% the end of Q4, and that will also go up a bit as a result of payment of dividends and investments. We have a normalized CapEx of NOK 400 million-NOK 500 million. It was slightly higher in the second half of last year as a result of Aftenposten moving into VG's premises, and we needed to do some refurbishment there. We also have a strong underlying cash flow, as you can see from the key financial figures, and that is we have we're comfortable with the debt level. We said that we should have net interest bearing debt of between 1-2 relative to EBITDA. Our dividend that has been proposed for 2013 is unchanged at NOK 3.50 per share.
We, the target is to have a payout ratio in the ratio between 25%-40% of cash flow. There's Payment is slightly above this range, but the board has nevertheless found it important to keep a stable dividend level. We have reported the EBITDA for online media and the media houses, it's becoming increasingly more integrated and therefore we also need to show that through our reporting. Necessarily, we will show revenues, we will not necessarily split the financial results between the media houses. Within classifieds, we have also entered into a joint venture with Telenor and 701. We will report it through the IFRS.
The consolidated figures will be one line, but we will also be showing these figures restated in the material that we will provide to investors and analysts. We also increased our ownership share in Ailen. The done deal, it's doing well, and we have gone from a stake of 15%, 50.1% in 2011, and we will increase this holding to 90% at what we believe is on favorable conditions. I will then give the floor to Rolf Erik to take us through the outlook. Thank you, Trond, and I will do that relatively quickly. As for classifieds, we believe that there will be a continued strong growth. The Milanuncios acquisition in Spain, we believe is very interesting. We believe that it will also give us some good opportunities for these websites going forward.
We will continue our relatively high investment level and focus on the countries that we are now established in. Christian has taken us through FINN strategies and plans. I believe that this is an interesting future for FINN. If we can achieve the targeted volume growth, then we will also see an impact on the effects. What I cannot comment too much about is, of course, the macroeconomic situation in Norway. The media houses, but also for classifieds, then especially recruitment advertisements, are important there, but we've seen a declining trend at the beginning of this year in recruitment advertisements. We will be driving product development both in print, but particularly to digital services. The Norwegian macroeconomic developments will have an impact. As I said, recruitment showed a decline at the beginning of the year.
This is more or less what I would like to say when it comes to the outlook. I open the floor for Q&As. Thank you. Martin, Danske Bank. Hi, gains through the joint venture with Telenor. Can you say why you have increased the fair value assessment? Well, this is technical matter. It has to do with IFRS. This is in Asia where we had a 50% stake. We have now reduced this to one-third and we achieved a gain from this. We have also discussed this under IFRS. Should we then write up our stake to a real value? This would have to do in 2014, it's very technical, very complicated, there is no changes to the underlying value. All right, thank you. Back to FINN.
Very interesting, the strategies for tomorrow's online classifieds. You are launching this now, can you also tell us a bit about how you intend to drive this onto the rest of the portfolio if you see the desired results? We continuously collaborate and also transfer expertise between the websites. Some of these websites are very advanced when it comes to this, we exchange information on a continuous basis. We are already doing this. Also EUR 34 million in the quarter in investments. Is that all what Schibsted has reported and stated in the council? Is it also what Telenor has contributed? This was closed in the beginning of December, that we will split after that.
You also see what we reported in our statements. We don't intend to provide any further guidance when it comes to online classifieds. Also Spain, I think it was interesting to see the last acquisition. Can you tell us to which extent this overlaps with the existing business in Spain? What are your thoughts around this? Milanuncios has developed, as Blocket sites tend to do, that they are big on this type of services and also when it comes to cars. In these areas, there is substantial overlap, and we will have to come back to the integration at a later point. There are excellent or there are good collaboration opportunities. Terje, maybe you would like to comment on this. Please stand up so that the camera can see you. There is surprisingly little overlap between Milanuncios and our Blocket site.
All right, Alessandro, follow up with the question to Martin. We see a reversion of the gains that you did in connection with SnT, could we then expect to see a loss in 2014? Actually, this is a change. The rules will change between 2013, 2014, how you deal with this type of partnerships, that is a tripartite collaboration. The write up that we did in 2013 will be reduced in 2014, against the equity as a result of the rules. It will be done against equity. All right. Question 2. Blocket reported a strong 40% underlying growth. Can you tell us a bit more about what's driving that trend? Blocket reported a strong quarter in several areas.
Blocket was a combination of both price growth, volume growth and generally healthy adverts markets. There were fluctuations from 1 quarter to another, but the 4th quarter was particularly strong growth for Blocket. Thank you. I have some more questions. SPiD. A while ago, I got the impression that SPiD's peer-to-peer opportunities were slightly different than what one envisaged 2 years ago or last years ago because there was a strong competition for payment solutions in the market. Maybe you now have changed your view on SPiD's peer-to-peer solutions. Can you comment also about the need for investments in SPiD? Does that also include a platform for peer-to-peer payments? The amount that is roughly a rough estimate has to do with the overall build above competency, not only for SPiD, but also advanced data analytics.
That means that we hire, data specialists and also to build up the platform and also, some other elements. We work to establish a long-term peer-to-peer solutions, and we hope to be able to introduce that to FINN.no at the limited. Can you tell us what you paid for that stake, apart from saying that you increased your stake from 50.1 to 90%? We don't want to say that. We believe that in view of the earnings in Ireland, we believe that we're happy with the price. Was that the same price that you acquired the 50.1% stake? Well, actually, we don't want to give any details. This is a relatively small acquisitions. If we look at Schibsted's overall activities, we don't want to be too specific. Last questions.
I see that prices for extra features was increased in January, and some bump ups, the increase was rather substantial. Can you tell us a bit about how many users there are that actually buy additional features? leboncoin is gradually adjusting its prices, and they also change its prices from the first of January, where they change the mix of categories. We also see a strong, good development of traffic, and we don't see any particular effect of the price adjustments. This happens on a gradual basis, and therefore, we would like to see. I would like to emphasize that what we do on the large sites is, of course, that we want to take a long-term perspective. We don't want to change things.
We also said that at the Capital Markets Day, we don't want to be too aggressive on our measures. Some questions that we have received through webs. The first question is that, can you tell us the possibilities for real estate in France? You said that you started up a new channel before Christmas. What do you do now in this year? To ensure the transformations from 31st of December and how do you work to, towards the real estate agents and also how do you ensure that they don't develop along P3 collaboration? We have already taken some measures, and it is possible for them to contact us. But the pace will be rather moderate this year, and we'll see what happens. I also have a question that concerning Milanuncios.
Will we see this acquisition as a sign of a strategy change where you will be working more in collaboration with competitors rather than compete with them? What's happening in Brazil? In Spain, we make an acquisitions, and the founder would like to continue to be part of the team because he believes in the developments. Those services complement our own in a very good way, and therefore, we don't see this as a change in strategy. Another question here. On the other income and expenses, you said that NOK 128 million was provision related to refocusing of online classifieds in France. What does this mean? Well, we made some provisions for restructuring the French operations to position leboncoin going forward, but I will not be going into details about what these provisions are for.
Last questions here is that they've asked for a clarification on FINN NOK 40 million in negative impact because they offer some free services when it comes to classifieds. Is this a 2014 effect? Yes. Christian has said that we will know more during the year. Mikkel Nølh, Carnegie, could you please comment on the developments in Aftonbladet, a strong growth in EBITDA? Again, Aftonbladet. Well, the advertisement market, the classified market is rather strong in Sweden. We report particularly strong result on online mobile. As VG, they also do very well on Web TV. This is more about actually taking positions rather than seeing an impact on the financial performance. We see the same for print, we also pursue an aggressive product development on Web TV.
We've also see fluctuations from one quarter to another in terms of advertisement and classifieds. It is important that they further develop the leading positions that they have in this area. We have also received an online question. The strengthening of Bom Negócio positions vis-a-vis competitors. What have been the drivers for the strengthening of the position in Brazil? We have been satisfied with the trend all along. When it comes to Bom Negócio and we see that if we spend time on marketing, then we received good profits again. We're happy with it. One question from SEB. You say that you expect the listings to increase by 3 to 5 fold if through this freemium model. Will this also have an impact on more registered SPiD subscribers and FINN subscribers?
We believe that we will have more subscribers on FINN. More people will subscribe, then more people will also be logging in. You will also see this even though it's free? Yes, because you have to be logged on to FINN if you want to post an ad. That will be the same under the new model. Good. All right. There doesn't seem to be any more questions. I think that we have exceeded the time that we have set aside. I would like to thank you for following us and for your attention.