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.