Storytel Group (STORY) investor relations material

Executive summary

• Achieved robust Q2 2025 performance with over 11% year-over-year subscriber growth to 2.55 million, strong engagement, and all-time-low churn, supporting solid EBITDA growth and cash generation for future investments.

• Strategic expansion outside the Nordics and into new customer segments contributed to growth, despite currency headwinds impacting ARPU.

• Integration of Publishing and Streaming units and the Bokfabriken acquisition unlocked value and boosted publishing segment performance.

• Launched a new in-app reading experience and set new financial targets for 2028.

• New Group Executive Management Team and recruitment of Chief People Officer to support 2028 strategy.

Financial highlights

• Group net sales increased 4% year-over-year to 958–1,028 MSEK; 8% growth in constant currency.

• Gross profit rose 6% to 434 MSEK, margin at 45.3%, up 0.9 percentage points.

• Adjusted EBITDA up 28% to 163 MSEK, margin at 17% (up from 13.8% last year); reported EBITDA up 46% to 161 MSEK.

• Cash flow from operations before working capital changes rose to 140–155 MSEK; cash and cash equivalents at period end: 485 MSEK.

• Net interest-bearing debt reduced to 115 MSEK, leverage ratio at 0.17.

Outlook and guidance

• On track to deliver full-year 2025 guidance; reaffirmed with revenue growth of 7–10% (CER), adjusted EBITDA margin of 17.5–19.0%, and subscriber base growth of 10%.

• New 2028 targets: revenue CAGR above 10% (CER), EBITDA margin above 20%, net debt/EBITDA below 1.5x.

• Strategic focus on strengthening the Nordics, accelerating non-Nordics growth, and expanding into adjacent markets.

• Expansion into 6–8 new markets planned, with incremental investments expected for H2 and beyond.

• Continued investments in locally relevant content, data, and AI for personalized user experience.