Brief: Storytel Q2 Streaming Sales Up At SEK 545 Million

Storytel AB (publ)

06/08/2021 07:25

Aug 6 (Reuters) - Storytel AB (publ)  STORYb.ST :
    * INTERIM REPORT JANUARY - JUNE 2021
    * Q2 STREAMING SALES SEK 545 MILLION VERSUS SEK 459 MILLION
YEAR
AGO
    * Q2 SUBSCRIBER  BASE 1,626,900 FROM 1,257,000 YEAR AGO
    * Q2 NET TURNOVER SEK 641 MILLION VERSUS SEK 554 MILLION
YEAR AGO
    * Q2 GROUP REVENUE SEK 730 MILLION VERSUS SEK 617.6 MILLION
YEAR
AGO
    * Q2 PRETAX LOSS SEK 132 MILLION VERSUS LOSS SEK 72.6
MILLION YEAR
AGO
    * SUBSCRIBER BASE IS FORECASTED TO AVERAGE 1,723,000
SUBSCRIBERS
IN Q3 2021
    * WE NOW REVISE OUR FULL-YEAR GUIDANCE TO 2.25–2.30 BSEK IN
STREAMING REVENUE (20–22% STREAMING REVENUE GROWTH)
    * SUBSCRIBER BASE IS EXPECTED TO END THE YEAR AT 1.95–2.00
MILLION
PAYING SUBSCRIBERS
    * ALSO ADJUSTS EBITDA MARGIN FROM 0–5% NEGATIVE MARGIN TO
6–8%
NEGATIVE EBITDA MARGIN.
    * LOWERED EBITDA MARGIN IS MAINLY ATTRIBUTABLE TO INCREASED
MARKETING INVESTMENTS TO BUILD AWARENESS IN MARKETS SUCH AS
POLAND, THE NETHERLANDS AND FINLAND
    * WE ARE CONFIDENT THAT THE YOY GROWTH IN Q4 WILL BE
SIGNIFICANTLY
HIGHER THAN IN THE FIRST THREE QUARTERS, A TREND THAT WE BELIEVE
WILL CONTINUE INTO 2022
    * MARKETING INVESTMENTS ARE EXPECTED TO BOOST SUBSCRIBER AND
REVENUE GROWTH IN Q4 2021

Source text for Eikon:  ID:nWkr1rY9hb 
Further company coverage:  STORYb.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))