Interim Report January – September 2021

Highlights (July – September)

Financial highlights

  • Streaming sales up 19% from Q3 2020 to 583 (490) MSEK, +20% with constant exchange rates
  • Subscriber base up 27% from Q3 2020 to 1,724,000 (1,360,300) on average
  • Storytel Books sales up 20% YoY in Q3 2021, EBIT margin 24.7% (16.1%), driven by strong organic growth and the acquisition of Lind & Co.
  • Net turnover including Streaming and Books increased by 17.3% from Q3 2020 to 714 (609) MSEK
  • Earnings per share, after taxes amounted to -0.92 (-0.38) SEK in Q3 2021, before and after dilution

Other highlights

  • An Extra General Meeting was held on September 23. Stefan Blom was elected chairman of the Board and Joakim Rubin, representing EQT was elected new director of the Board. Nils Janse stepped down from the Board, and the rest of the Board remained the same.
  • Completed the acquisition of the Finnish publisher Aula & Co, strengthening Storytel’s position on the Finnish market.

Highlights After the End of the Quarter

  • Storytel joined the UN Global Compact, the world’s largest sustainability initiative, emphasizing the company’s commitment to investing in, and making a meaningful contribution to, a resilient society.

 

Table 1: Key Performance Indicators for Streaming and Books

TSEK Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021
Streaming Total1           Forecast
Revenue 490,234 503,449 517,075 545,451 583,084 604,000-608,000
Contribution Profit 113,663 107,074 97,592 105,933 94,655
Contribution Margin 23.2% 21.3% 18.9% 19.4% 16.2%
Avg. Paying Subscribers 1,360,300 1,442,000 1,540,600 1,626,900 1,724,000 1,789,000-1,796,000
ARPU 120 116 112 112 113 113
         
Streaming Nordics1          
Revenue 394,453 399,639 401,834 423,323 447,199 459,000-461,000
Contribution Profit 125,534 134,166 119,418 127,010 135,684
Contribution Margin 31.8% 33.6% 29.7% 30.0% 30.3%
Avg. Paying Subscribers 902,000 926,000 957,500 983,600 1,024,000 1,044,000-1,047,000
ARPU 146 144 140 143 146 147
         
Streaming Non-Nordics          
Revenue 95,781 103,810 115,240 122,128 135,885 145,000-147,000
Contribution Profit -11,872 -27,092 -21,826 -21,078 -41,030
Contribution Margin -12.4% -26.1% -18.9% -17.3% -30.2%
Avg. Paying Subscribers 458,300 516,000 583,100 643,300 700,000 745,000-749,000
ARPU 70 67 66 63 65 65
         
Books          
Revenue 150,391 197,346 125,189 149,962 180,116
Contribution Profit 63,667 81,774 52,852 66,479 83,436
Contribution Margin 42.3% 41.4% 42.2% 44.3% 46.3%

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:
Andreas Lindblom, Head of FP&A and Investor Relations: +46 72 506 14 22
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 700,000 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 Förlagsgrupp, People’s and Gummerus. Storytel operates in 25 markets around the globe and is headquartered in Stockholm, Sweden.