Swedish audiobook company Storytel announced financial results for the second quarter. Sales grew 4 percent to SEK958 million, or 8 percent at constant currency, due to “healthy growth in the Streaming segment due to strong growth in subscriber intake and a solid development in the Publishing segment.” Bokfabriken, which Storytel acquired in Q1, contributed SEK10.6 million. Operating profit was up 75 percent to SEK82 million and EBITDA grew 46 percent to SEK161 million. “We have delivered a robust financial performance, driven by a high subscriber intake, solid EBITDA growth and strong cash generation giving us the strategic possibility to invest […]
