Storytel publ : Interim Report January - June 2020 Storytel AB (publ)

 

· Streaming sales up 43% from Q2 2019 to 459 (320) MSEK 
· Subscriber base up 42% from Q2 2019 to 1,257,000 (897,500) on average 
· Net turnover increased to 554 MSEK from 402 MSEK in Q2 2019
· Earnings per share, after taxes amounted to -0.91 SEK, before and after dilution, compared to -1.20 SEK in Q2 2019 
· Renegotiated Term Loan from Swedbank, expanding the Revolving Credit Facility to 500 MSEK
· Issued a stock option programme for all employees together with a warrant programme for select Key Employees and Directors

Table 1: Key performance indicators for Streaming and Print Publishing 

  [][][][][][][][][][][][][][]
  Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020

Currency: SEK
000's
Streaming          
Total  Actual[8] Forecast[1]
Revenue 320,034 399,178 421,454 429,251 459,115 483,500
Contribution 29,407 53,043 58,977 92,611 100,493
Profit[2,8]
Contribution 9.2% 13.3% 14.0% 21.6% 21.9%
Margin
Avg. Paying 887,500 1,014,400 1,083,400 1,154,800 1,257,000 1,345,000
Subscribers[3]
ARPU[4] 120 131 130 124 122 120
(SEK/Month)
Streaming
Nordics[5]
Revenue 276,347 340,315 352,222 349,768 366,322 389,000
Contribution 70,443 109,563 115,689 113,476 107,176
Profit[2,8]
Contribution 25.5% 32.2% 32.8% 32.4% 29.3%
Margin
Avg. Paying 669,200 736,000 757,600 785,800 833,300 890,000
Subscribers[3]
ARPU[4] 138 154 155 148 147 146
(SEK/Month)
Streaming Non
-Nordics
Revenue 43,687 58,863 69,233 79,484 92,793 94,500
Contribution -41,036 -56,521 -56,713 -20,866 -6,684
Profit[2,8]
Contribution -93.9% -96.0% -81.9% -26.3% -7.2%
Margin
Avg. Paying 218,300 278,400 325,800 369,000 423,700 455,000
Subscribers[3]
ARPU[4] 67 70 71 72 73 69
(SEK/Month)
Print
Publishing[6]
Revenue 109,053 116,371 179,562 114,737 126,743
Contribution 28,830 33,327 65,592 41,678 44,147
Profit[7]
Contribution 26.4% 28.6% 36.5% 36.3% 34.8%
Margin

___________________________
1 Forecast means an approximation based on information available at the time the report was prepared.

2 Contribution Profit is defined as streaming revenue minus royalties to third-party publishers and rights holders, external production costs, transaction/payment costs and marketing costs. Storytel Reader and Ztory are not included in Streaming. 

3 Avg. Paying Subscribers means the average number of paying Storytel subscribers during the quarter. Stand-alone customers from Ztory are not included. For Family subscriptions, each standard stream (not so-called Kids Mode) is considered one paying customer. 

4 ARPU = Average Revenue Per User (Subscriber) per month. 

5 Storytel Norway is included in the figures @ 100%. In the consolidated accounts, Norway is reported in accordance with the principle of proportional consolidation.

6 Print Publishing refers to physical books and digital sales through channels other than Storytel. Internal revenue from Storytel has been eliminated. All publishing houses both inside and outside of Sweden are included. 

7 Contribution Profit is defined as revenue minus cost of goods sold, royalties to rights holders, distribution, sales and marketing costs. 

8 Storytel has chosen to voluntarily apply the capitalisation model instead of the expensing model regarding internally developed intangible assets. In this table, the development of our digital catalogue will be capitalised and no longer treated as an expense as of Q1 2020. 

 

Forthcoming reports

·
Interim Report Jan - Sept 2020 10 Nov 2020

 
This information constitutes inside information in accordance with the EU Market Abuse Regulation 596/2014 and is such information that Storytel AB (publ) is required to disclose. The information was provided by the above contact person at the time stated in this press release by the Company's news distributor Cision.

FNCA Sweden AB is the company's certified adviser. FNCA can be reached at [e-mail] or [phone].
 

Stockholm, 11 Aug 2020

 

Board of Directors, Storytel AB (publ)
 

For more information, please contact:

Jörgen Gullbrandson, Interim CFO: [phone]

Dan Panas, Head of Communications: [phone]

Storytel is Northern Europe's leading audiobook and e-book streaming service and offers unlimited listening and reading of more than 500 000 titles on a global scale. Our vision is to make the world a more empathetic place with great stories to be shared and enjoyed by anyone, anywhere and anytime. Storytel is a digital platform provider as well as a comprehensive publishing group. The streaming business area offers subscriptions for audiobooks and e-books under the Storytel and Mofibo brands. Storytel's publishing business area is carried out through the publishing houses Norstedts, Massolit, StorySide, Printz Publishing, People's Press, Rabén & Sjögren, B.Wahlströms, Gummerus Kustannus and Norstedts Kartor. Ztory - a subscribed digital read-all-you-can streaming service for newspapers and magazines, is part of Storytel since January 2019. Storytel operates in 20 markets around the globe and is headquartered in Stockholm, Sweden.

https://news.cision.com/storytel/r/interim-report-january---june-2020-storytel-ab--publ-,c3166522

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