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"Storytel continued its transformation journey and delivered yet another strong quarter to conclude 2023", says Johannes Larcher, CEO, Storytel.
Financial Highlights Q4
Table 1 Key Performance Indicators
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TSEK Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 YTD 2022 YTD 2023
Streaming
Total
Revenue 742,283 742,081 798,881 842,407 858,209 2,887,763 3,241,579
Revenue 742,374 742,081 798,881 842,407 858,209 2,848,329 3,241,579
excl
Russia
Adjusted 304,594 317,067 344,949 366,414 373,795 1,210,037 1,402,226
Gross
profit
Adjusted 41.0% 42.7% 43.2% 43.5% 43.6% 41.9% 43.3%
Gross
margin
Gross 304,594 317,067 344,949 366,414 246,503 1,174,469 1,274,934
profit
Avg. Paying 2,036' 2,041' 2,055' 2,144' 2,201' 2,046' 2,111'
Subscribers
(thousands)
ARPU 122 121 130 131 130 118 128
(SEK/month)
Streaming
Nordics[1]
Revenue 498,336 496,630 543,765 571,625 573,674 1,919,046 2,185,694
Adjusted 184,767 200,992 227,364 241,027 243,380 740,789 912,764
Gross
profit
Adjusted 37.1% 40.5% 41.8% 42.2% 42.4% 38.6% 41.8%
Gross
margin
Gross 184,767 200,992 227,364 241,027 186,564 717,199 855,947
profit
Avg. Paying 1,132' 1,125' 1,122' 1,169' 1,183' 1,100' 1,150'
Subscribers
(thousands)
ARPU 147 147 162 163 162 145 158
(SEK/month)
Streaming
Non
-Nordics
Revenue 243,947 245,451 255,117 270,782 284,535 968,717 1,055,885
Revenue 244,038 245,451 255,117 270,782 284,535 929,284 1,055,885
excl
Russia
Adjusted 119,828 116,075 117,585 125,387 130,415 469,248 489,462
Gross
profit
Adjusted 49.1% 47.3% 46.1% 46.3% 45.8% 48.4% 46.4%
Gross
margin
Gross 119,828 116,075 117,585 125,387 59,939 457,271 418,986
profit
Avg. Paying 904' 916' 933' 975' 1,018' 946' 961'
Subscribers
(thousands)
ARPU 90 89 91 93 93 85 92
(SEK/month)
Books
Revenue 193,069 130,083 128,668 139,970 170,946 646,572 569,667
Adjusted 85,141 68,472 67,525 65,098 94,799 329,641 295,894
Gross
profit
Adjusted 44.1% 52.6% 52.5% 46.5% 55.5% 51.0% 51.9%
Gross
margin
Gross 85,141 68,472 67,525 65,098 85,015 329,641 286,110
profit
Group
total[2]
Revenue 866,663 796,293 851,070 895,758 946,099 3,200,382 3,489,220
Adjusted 322,377 315,501 333,183 351,869 387,221 1,248,713 1,388,954
Gross
profit
Adjusted 37.2% 39.6% 39.1% 39.3% 40.9% 39.0% 39.8%
Gross
margin
Gross 322,377 315,501 333,183 351,869 245,593 1,213,145 1,247,326
profit
1) Streaming revenue includes all of Storytel Norway's revenue.
2) In the consolidated accounts, Storytel Norway is reported in accordance with the equity method. As a result, the Streaming revenue listed in Table 1 is higher than in the consolidated statement of accounts in order to provide a more accurate figure for average revenue per subscriber. Please see Note 5 for additional details.
FNCA Sweden AB is the Company's Certified Adviser.
The information was provided, through the agency of the above contact person, at the time stated in this press release, by Cision.
For more information, please contact:
Mattias Frithiof, Head of Investor Relations, Storytel Group
Tel: +46 76 535 26 74
Email:
Malin Lindborn, Head of Communications, Storytel Group
Tel: +46 735 33 17 70
Email:
About Storytel
Storytel is one of the world's largest audiobook and e-book streaming services and offers more than one million 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.
The streaming business within the Storytel Group is conducted under the brands Storytel, Mofibo and Audiobooks.com. The publishing business is managed by Storytel Books, and by the audiobook publisher StorySide. The Storytel Group operates in over 25 markets, with focus on ten core markets: the five Nordic countries, the Netherlands, Turkey, Poland, Bulgaria, and the USA. The headquarters are located in Stockholm, Sweden.