Storytel-Q2-2019

Interim Report January – June 2019 Storytel AB (publ)

Click here to watch the quarterly video with CEO Jonas Tellander and CFO Sofie Zettergren.

  • Streaming sales up 34% from Q2 2018, to 320 (239) MSEK
  • Net turnover increased to 402 from Q2 2018, (338) MSEK
  • Earnings per share, after taxes amounted to -1.20 (-1.25) SEK
  • Subscriber base up 43% Y/Y to 887,500 (621,200) on average
  • Storytel launched its 17th  market, Germany
  • Storytel Stock Option Program launched

Table 1: Key performance indicators for Streaming and Print Publishing 

Currency: SEK 000’s        Q2 2018        Q3 2018        Q4 2018        Q1 2019         Q2 2019        Q3 2019
Streaming Total Forecast1
Revenue 239,139 279,979 291,315 295,994 320,034 395,000
Contribution Profit2 25,045 22,063 30,444 31,372 29,407
Contribution Margin 10.5% 7.9% 10.5% 10.6% 9.2%
Paying Subscribers 621,200 720,900 768,700 834,300 887,500 1,005,000
ARPU3 (SEK/Month) 128 129 126 118 120 131
Streaming Nordics4
Revenue 218,714 253,081 259,256 258,288 276,347 338,000
Contribution Profit2 57,986 62,327 82,645 75,329 70,443
Contribution Margin 26.5% 24.6% 31.9% 29.2% 25.5%
Paying Subscribers 530,200 595,400 616,300 645,500 669,200 732,000
ARPU3 (SEK/Month) 138 142 140 133 138 154
Streaming Non-Nordics
Revenue 20,424 26,898 32,059 37,706 43,687 57,000
Contribution Profit2 ?32,941 ?40,264 ?52,200 ?43,957 -41,036
Contribution Margin ?161.3% ?149.7% ?162.8% ?116.6% -93.9%
Paying Subscribers 91,000 125,500 152,400 188,800 218,300 273,000
ARPU3 (SEK/Month) 75 71 70 67 67 70
Print Publishing5
Revenue 115,898 116,252 170,435 107,316 109,053
Contribution Profit6 41,889 40,140 54,681 32,775 28,830
Contribution Margin 36.1% 34.5% 32.1% 30.5% 26.4%

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1 “Forecast” means an approximation based on information available at the time the report was prepared.
2 Contribution Profit is defined as streaming revenue minus royalties to third-party publishers and rights holders, in-house production costs, transaction costs and marketing costs. Storytel Reader and Ztory is not included in Streaming.
3 ARPU = Average Revenue Per User (Subscriber) per month.
4 Storytel Norway is included in the figures @ 100%. In the consolidated group accounts, Norway is reported in accordance with the principle of proportional consolidation.
5 Print Publishing refers to physical books and digital sales through channels other than Storytel. Internal revenue from Storytel has been eliminated. All publishing houses in Sweden and outside of Sweden are included.
6 Contribution Profit is defined as revenue minus cost per unit sold, royalties to rights holders, distribution, sales and marketing costs.

Forthcoming reports

  • Interim Report Jan – Sept 2019 12 Nov 2019
  • Year-End Report 2019 20 Feb 2020
  • Annual Report 2019 2 April 2020
  • Interim Report Jan – Mar 2020 12 May 2020
  • Interim Report Jan – June 2020 11 Aug 2020
  • Interim Report Jan – Sept 2020 10 Nov 2020

FNCA Sweden AB is the company’s certified adviser. FNCA can be reached at info@fnca.se or +46 8 528 00 399.
 
Stockholm, 13 Aug 2019
Board of Directors, Storytel AB (publ)

For more information, please contact:

Jonas Tellander, CEO: +46 70 261 61 36
Sofie Zettergren, CFO: +46 70 509 98 08
Dan Panas, Head of Communications: +46 70 186 52 90

This information is information that Storytel AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at the time set out in this press release.

About Storytel

Storytel is Northern Europe’s leading audiobook and e-book streaming service and offers unlimited listening and reading of more than 200 000 titles on a global scale. Our vision is to make the world a more empathetic place with great stories to be shared and enjoyed by anyone, anywhere and anytime. Storytel is a digital platform provider as well as a comprehensive publishing group. The streaming business area offers subscriptions for audiobooks and e-books under the Storytel and Mofibo brands. Storytel’s publishing business area is carried out through the publishing houses Norstedts, Massolit, StorySide, Printz Publishing, People’s Press, Rabén & Sjögren, B.Wahlströms and Norstedts Kartor. Ztory – a subscribed digital read-all-you-can streaming service for newspapers and magazines, is part of Storytel since January 2019. Storytel operates in 17 markets around the globe and is headquartered in Stockholm, Sweden.