Interim Report January – March 2021
Highlights
Financial
- Streaming sales up 20.5% from Q1 2020 to 517 (429) MSEK, +26.5% with constant exchange rates
- Subscriber base up 33.4% from Q1 2020 to 1,540,600 (1,154,800) on average
- Net turnover increased to 615 (513) MSEK in Q1 2021
- Earnings per share, after taxes amounted to -1.15 (-0.64) SEK in Q1 2021, before and after dilution
- Successfully completed a directed share issue and raised 1,171 MSEK before transaction costs
Other
- Launched in Israel and opened stores in Saudi Arabia and Egypt
- Signed agreement to acquire a majority stake in the Swedish publishing house Lind & Co AB
Highlights After the End of the Quarter
- Performed a directed share issue of 343,394 new class B shares in conjunction with the closing of Lind & Co on April 1
- Held the Annual General meeting with Shareholders on May 4
Table 1: Key Performance Indicators for Streaming and Books
| TSEK | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | Q1 2021 | Q2 2021 |
| Streaming Total1 | Forecast | |||||
| Revenue | 429,251 | 459,115 | 490,234 | 503,449 | 517,075 | 545,000 |
| Contribution Profit | 92,611 | 100,493 | 113,663 | 107,074 | 97,592 | |
| Contribution Margin | 21.6% | 21.9% | 23.2% | 21.3% | 18.9% | |
| Avg. Paying Subscribers | 1,154,800 | 1,257,000 | 1,360,300 | 1,442,000 | 1,540,600 | 1,625,000 |
| ARPU | 124 | 122 | 120 | 116 | 112 | 112 |
| Streaming Nordics1 | ||||||
| Revenue | 349,768 | 366,322 | 394,453 | 399,639 | 401,834 | 422,000 |
| Contribution Profit | 113,476 | 107,176 | 125,534 | 134,166 | 119,418 | |
| Contribution Margin | 32.4% | 29.3% | 31.8% | 33.6% | 29.7% | |
| Avg. Paying Subscribers | 785,800 | 833,300 | 902,000 | 926,000 | 957,500 | 982,000 |
| ARPU | 148 | 147 | 146 | 144 | 140 | 143 |
| Streaming Non-Nordics | ||||||
| Revenue | 79,484 | 92,793 | 95,781 | 103,810 | 115,240 | 123,000 |
| Contribution Profit | -20,866 | -6,684 | -11,872 | -27,092 | -21,826 | |
| Contribution Margin | -26.3% | -7.2% | -12.4% | -26.1% | -18.9% | |
| Avg. Paying Subscribers | 369,000 | 423,700 | 458,300 | 516,000 | 583,100 | 643,000 |
| ARPU | 72 | 73 | 70 | 67 | 66 | 64 |
| Books | ||||||
| Revenue | 114,737 | 126,743 | 150,391 | 197,346 | 125,189 | |
| Contribution Profit | 41,678 | 44,147 | 63,667 | 81,774 | 52,852 | |
| Contribution Margin | 36.3% | 34.8% | 42.3% | 41.4% | 42.2% | |
1. Storytel Norway is included in the figures @ 100%. In the consolidated accounts, Norway is reported in accordance with the principle of proportional consolidation.
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.