Storytel falls as lack of guidance creates 'fears of clouded visibility'

Storytel AB (publ)

16/02/2023 09:18

** Shares in Storytel  STORYb.ST  fall 6.5% after the
Swedish audio and e-book streaming group reported results for
Q4, but omitted guidance for FY 2023 or Q1 2023
    ** DNB Markets ("buy") expects the shares to initially trade
down on fears of clouded visibility given the lack of guidance,
but expects the shares to recover during the day
    ** Given an upcoming CMD later this year, the company says
it will not be guiding specifically for 2023
    ** It adds that it is focused on maintaining the trend for
the past two quarters, "with break-even operating cash flows and
sustained positive EBITDA margins"    
    ** The broker points out that shares in Storytel on average
have moved about 17% up or down on the company's past four
quarterly earnings
    ** Today's losses wiped off SEK 253.6 mln from the company's
market cap
 (Reporting by Louise Breusch Rasmussen)
 ((Louisebreusch.rasmussen@tr.com))