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Regulatory press release

Interim Report January – June 2021

Highlights

Financial

  • Streaming sales up 19% from Q2 2020 to 545 (459) MSEK, +22% with constant exchange rates
  • Subscriber base up 29% from Q2 2020 to 1,626,900 (1,257,000) on average
  • Net turnover increased to 641 (554) MSEK in Q2 2021
  • Earnings per share, after taxes amounted to -2.04 (-0.91) SEK in Q2 2021, before and after dilution

Other

  • Held the Annual General Meeting of Shareholders on May 4
  • Signed agreement to acquire the Finnish publishing house Aula & Co AB
  • Entered into a partnership with Spotify making Storytel’s catalogue available on the Spotify platform by linking the two accounts

Highlights After the End of the Quarter

  • Revised the forecast for FY 2021
    • From 2.1 –  2.2 million subscribers EOY to 1.95 – 2.0 million subscribers EOY
    • From 2,400 –  2,500 MSEK in streaming revenues to 2,250 –  2,300 MSEK in streaming revenue
    • From 0 – 5% negative EBIDTA margin to 6 – 8% negative EBITDA margin

Table 1: Key Performance Indicators for Streaming and Books

TSEK Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021
Streaming Total1 Forecast
Revenue 459,115 490,234 503,449 517,075 545,451 586,000
Contribution Profit 100,493 113,663 107,074 97,592 105,933
Contribution Margin 21.9% 23.2% 21.3% 18.9% 19.4%
Avg. Paying Subscribers 1,257,000 1,360,300 1,442,000 1,540,600 1,626,900 1,723,000
ARPU 122 120 116 112 112 113
Streaming Nordics1
Revenue 366,322 394,453 399,639 401,834 423,323 451,000
Contribution Profit 107,176 125,534 134,166 119,418 127,010
Contribution Margin 29.3% 31.8% 33.6% 29.7% 30.0%
Avg. Paying Subscribers 833,300 902,000 926,000 957,500 983,600 1,033,000
ARPU 147 146 144 140 143 146
Streaming Non-Nordics
Revenue 92,793 95,781 103,810 115,240 122,128 135,000
Contribution Profit -6,684 -11,872 -27,092 -21,826 -21,078
Contribution Margin -7.2% -12.4% -26.1% -18.9% -17.3%
Avg. Paying Subscribers 423,700 458,300 516,000 583,100 643,300 690,000
ARPU 73 70 67 66 63 65
Books
Revenue 126,743 150,391 197,346 125,189 149,962
Contribution Profit 44,147 63,667 81,774 52,852 66,479
Contribution Margin 34.8% 42.3% 41.4% 42.2% 44.3%

1. Storytel Norway is included in the figures @ 100%. In the consolidated accounts, Norway is reported in accordance with the principle of proportional consolidation.

The full report can be found as attachment.

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 Global PR & Communications: +46 70 186 52 90

This information is such that Storytel AB (publ) is obliged to disclose in accordance with the EU Market Abuse Regulation (EU nr 596/2014). The information was provided, through the agency of the above contact person, at the time stated in this press release, by Cision.

FNCA Sweden AB is the company’s certified adviser. FNCA can be reached at info@fnca.se or +46 8 528 00 399.

About Storytel

Storytel is one of the world’s largest subscribed audiobook and e-book streaming services and offers listening and reading of more than 500 000 titles on a global scale. Our vision is to make the world a more empathetic and creative place with great stories to be shared and enjoyed by anyone, anywhere and anytime. Storytel’s streaming business is conducted under the brands Storytel and Mofibo. Storytel’s publishing business area is carried out through the audiobook publisher StorySide and acclaimed Nordic publishing houses such as Norstedts, People’s and Gummerus. Storytel operates in 25 markets around the globe and is headquartered in Stockholm, Sweden.