Springer Nature confirms outlook, says it reduced debt after IPO

Springer Nature AG & Co KgaA

19/11/2024 06:26

Nov 19 (Reuters) - German publishing group Springer
Nature  SPGG.DE  said on Tuesday its organic revenue grew 6% in
the first nine months of the year, driven by a strong
performance of its Open Access and Nature titles, and confirmed
its full-year outlook.
    The Berlin-based publisher reported nine-month revenue of
1.37 billion euros ($1.45 billion) and said it had used proceeds
of 200 million euros from its IPO to repay outstanding debt,
reducing its financial leverage to 2.5x net debt/EBITDA.
($1 = 0.9447 euros)

 (Reporting by Paolo Laudani and Chiara Holzhaeuser in Gdansk;
editing by Milla Nissi)
 ((Paolo.Laudani@thomsonreuters.com;
chiara.holzhaeuser@thomsonreuters.com))