Strong start to the year with continued solid growth
Readly AB presents a strong quarter with continued solid growth. The number of full-paying subscribers increased by 36.8 per cent to 397,071 (290,156) at the end of the quarter. Revenues increased with 32.0 per cent to SEK 101.9 million (77.2). Gross profit increased by 34.4 per cent to SEK 33.9 million (25.2), corresponding to a gross margin of 33.2 per cent (32.7).
- We started the year with a strong quarter with continued solid growth and we continue to deliver according to our strategy and in line with financial targets. All markets contributed with double-digit subscriber growth and the number of full-paying subscribers grew by 36.8 per cent. The strong development was mainly driven by continued successful execution on our partnership strategy and further optimisation of our marketing channels. We see great growth opportunities in our market, which is characterised by a very low degree of digital penetration, while demand for our services is driven by strong and long-term trends such as digitalisation, sustainability and consumer demand of more trustworthy sources, says Maria Hedengren, CEO of Readly
First quarter, January – March 2021
- Revenue for the period totalled SEK 101.9 million (77.2), an increase of 32.0 per cent.
- The number of full-paying subscribers (FPS) increased by 36.8 per cent to 397,071 (290,156) at the end of the quarter.
- Gross profit increased by 34.4 per cent to SEK 33.9 million (25.2), corresponding to a gross margin of 33.2 per cent (32.7).
- The gross contribution margin for the period was -16.1 per cent (5.0).
- Operating profit was SEK -56.9 million (-37.8), corresponding to an operating margin of -55.9 per cent (-49.0).
- Earnings per share were SEK -1.6 (-1.3) before and after dilution.
Presentation for investors, analyst and the media
Maria Hedengren, CEO and Johan Adalberth, CFO, will present the report and answer questions in an audiocast and conference call today, 6 May 2021, at 09.00 CET. The presentation will be held in English.
To listen to the conference by phone, please call:
SE: +46 8 505 583 52
UK: +44 3 333 00 90 32
US: +1 833 526 83 84
Follow the presentation live on:
Report and presentation will be available for download on https://corporate.readly.com/investors/financial-reports-and-presentations/
For more information, please contact:
Maria Hedengren, CEO
maria.hedengren@readly.com
Johan Adalberth, CFO
+46 72 727 50 70, johan.adalberth@readly.com
Rasmus Blomqvist, Head of Investor Relations
+46 70 233 53 67, rasmus.blomqvist@readly.com
This information is inside information that Readly International AB (publ) is obligated to make public pursuant to the EU Market Abuse Act. The information was submitted for publication, through the agency of the contact person set out above, at 07.30 CET on 6 May 2021.
About Readly
Readly is the European category leader for digital magazines. The company offers a digital subscription service, that lets customers have unlimited access to 5,000 national and international magazines - all in one app and at a fixed monthly fee. Readly has subscribers in 50 countries and content available in 17 different languages. In collaboration with around 900 publishers worldwide, Readly is digitizing the magazine industry. In 2020, revenues amounted to SEK 353 million. Since September 2020, the Readly share is listed on Nasdaq Stockholm Midcap. For more information, please visit https//corporate.readly.com.
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