Swedish audiobook company Storytel reported fourth quarter and full year 2023 results on Thursday. Full year sales were SEK3.49 million, up 9 percent. EBITDA was SEK150 million up from SEK(-68) million last year. Operating profit for the year was SEK(-742.3), compared to SEK(-400.5) million the year before. Streaming sales grew 12 percent to SEK3.24 million, or a 9 percent increase at constant currency. Fourth quarter and full-year profit was impacted by significant year-end writedowns of SEK672 million. The biggest, SEK465 million (or roughly $45 million at current exchange) was impairment charges on goodwill attributed to Audiobooks.com, acquired for $135 million. […]
