“Record high profitability, solid customer intake, and robust cash flow generation. Our performance reinforces our confidence in achieving our mid-term targets, while we raise our guidance for 2025”, says Bodil Eriksson Torp, CEO Storytel Group.
Q3 Highlights
- Group revenue up 6% to 1,013 (954) MSEK, and 9% in constant exchange rates (CER).
- Streaming revenue up 4%, and 7% at CER.
- Publishing up 14%, and 16% at CER.
- Gross profit rose 6% to 460 (434) MSEK, for a margin of 45.4% (45.5%).
- Adjusted EBITDA increased by 26% to 224 (178) MSEK, for a margin of 22.1% (18.7%).
- Items Affecting Comparability (IACs) of 7 (-18) MSEK, related to long term incentive programs.
- Net profit for the period amounted to 138 (55) MSEK.
- Earnings per share amounted to 1.70 (0.67) SEK before dilution, 1.69 (0.67) SEK after dilution.
- Cash flow from operations before changes in working capital increased to 203 (148) MSEK.
Significant events after the period
- Raised 2025 adjusted EBITDA margin guidance to 18.0-19.5 percent (from 17.5-19.0).
- Appointed Stefan Wård as new CFO.
- Storytel’s streaming service launched in Estonia.
- New partnership with RDF Media to accelerate audiobook growth in Chile.
Financial summary
| MSEK | Q3 2025 | Q3 2024 | Change | Jan-Sep 2025 | Jan-Sep 2024 | Change |
| Group Revenue¹ | 1,013 | 954 | 6% | 2,925 | 2,770 | 6% |
| Streaming Revenue² | 884 | 852 | 4% | 2,600 | 2,498 | 4% |
| Publishing Revenue³ | 324 | 285 | 14% | 907 | 793 | 14% |
| Gross profit | 460 | 434 | 6% | 1,317 | 1,223 | 8% |
| Gross margin % | 45.4 | 45.5 | -0.1p | 45.0 | 44.1 | 0.9p |
| Operating profit | 152 | 87 | 74% | 289 | 110 | 161% |
| Adjusted EBITDA | 224 | 178 | 26% | 537 | 410 | 31% |
| Adjusted EBITDA margin % | 22.1 | 18.7 | 3.4p | 18.4 | 14.8 | 3.6p |
| EBITDA | 232 | 161 | 44% | 528 | 322 | 64% |
| Earnings per share, basic (SEK) | 1.70 | 0.67 | 154% | 2.45 | 0.72 | 240% |
| Earnings per share, diluted (SEK) | 1.69 | 0.67 | 152% | 2.43 | 0.72 | 238% |
| Cash flow from operations before changes in working capital | 203 | 148 | 37% | 430 | 283 | 52% |
| Cash flow for the period | 45 | 140 | -68% | -77 | 11 | -790% |
| Net Interest-Bearing Debt (NIBD) | 23 | 202 | -88% | 23 | 202 | -88% |
| NIBD/adjusted R12 EBITDA ratio | 0.03 | 0.40 | -92% | 0.03 | 0.40 | -92% |
| ¹ The adjustments from segment level to group level are 1) Removing Storytel Norway at 50%, 2) Removing internal publishing revenue from Net Sales and adding internal publishing revenue as cost reduction within Cost of Sales, 3) Costs related to central group overhead functions 4) Adding result from Norway in accordance with the equity method. See Note 5 to the financial statements for additional details. | ||||||
| ² Streaming revenue includes 50% of Storytel Norway’s revenue in line with Storytels ownership. | ||||||
| ³ Publishing revenue includes both external and group-internal revenue. | ||||||