Interim Report January - March 2026
Interim Report January – March 2026 Financial Data
Storytel Group reports strong subscriber growth and continued margin expansion in the first quarter 2026
2026-04-28 08:00:00
“Storytel Group entered 2026 with clear momentum, supported by robust subscriber growth, continued margin expansion, and strong cash flow generation”, says Bodil Eriksson Torp, CEO Storytel Group.
Q1 Highlights
- Net sales amounted to SEK 979m (953) for the period.
- Net sales growth of 7.9% in constant exchange rates (CER).
- Streaming net sales growth of 7.4% at CER. External Publishing net sales growth of 9.2% at CER.
- Adjusted EBITDA margin of 17.0% (14.1%), driven by improved profitability in both business areas.
- Operating profit increased 61% from SEK 55m to 88m.
- Net profit amounted to SEK 86m (19), with basic and diluted EPS of SEK 1.06 (0.20).
- Net debt amounted to SEK -220m (116), reflecting strong cash flow generation.
- New segment structure improving transparency into our international growth engine.
- Paying subscribers amounted to 2.74m (2.53), with net additions of +72k in the period, on track to exceed 3m in 2027.
- Nordic paying subscribers amounted to 1.34m (1.28), with net additions of +11k in the period.
- Europe paying subscribers amounted to 1.06m (0.94), surpassing 1m for the first time, driven by Poland and the Netherlands.
- Group ARPU (SEK/month) amounted to SEK 113 (120), decreased by 5.5%, with FX accounting for 85% of the decline.
Outlook 2026
Adjusted EBITDA guidance of at least SEK 870m for 2026.
Financial summary
| MSEK | Q1 2026 | Q1 2025 | Change | R12M | FY 2025 |
| Net sales | 979 | 953 | 3% | 4,049 | 4,023 |
| Net sales growth, %³ | 2.7 | 6.8 | -4.1pp | - | 5.9 |
| Net sales growth CER, %³ | 7.9 | 7.0 | 0.9pp | - | 9.2 |
| Organic growth CER, %³ | 7.5 | 6.8 | 0.7pp | - | 8.3 |
| Total Segment Streaming Net sales¹ | 877 | 862 | 2% | 3,533 | 3,518 |
| Total Segment Publishing Net sales² | 288 | 283 | 2% | 1,278 | 1,274 |
| Gross profit | 442 | 423 | 5% | 1,852 | 1,833 |
| Gross margin %³ | 45.2 | 44.4 | 0.8pp | 45.7 | 45.6 |
| Adjusted EBITDA³ | 166 | 135 | 24% | 780 | 748 |
| Adjusted EBITDA margin %³ | 17.0 | 14.1 | 2.9pp | 19.3 | 18.6 |
| EBITDA | 163 | 135 | 21% | 776 | 747 |
| EBITDA margin %³ | 16.6 | 14.1 | 2.5pp | 19.2 | 18.6 |
| Operating profit (EBIT) | 88 | 55 | 61% | 456 | 423 |
| EBIT margin %³ | 9.0 | 5.8 | 3.2pp | 11.3 | 10.5 |
| Net profit | 86 | 19 | 361% | 572 | 504 |
| Earnings per share, basic (SEK) | 1.06 | 0.20 | 430% | 7.12 | 6.26 |
| Earnings per share, diluted (SEK) | 1.06 | 0.20 | 428% | 7.08 | 6.22 |
| Cash flow from operating activities | 135 | 29 | 367% | 679 | 573 |
| Net Debt³ | -220 | 116 | - | -220 | -136 |
| Net Debt/adjusted R12 EBITDA ratio³ | -0.28 | 0.18 | - | -0.28 | -0.18 |
| End of period subscribers (thousands) | 2,737 | 2,532 | 8% | - | 2,666 |
| ARPU (SEK/month) | 113 | 120 | -6% | - | 118 |
¹ Streaming net sales includes 50% of Storytel Norway’s net sales in line with Storytel’s ownership and differ from IFRS consolidated figures See note 5 for more details.
² Publishing net sales includes both external and group-internal net sales. See note 5 Business Segments for more details.
³ Alternative Performance Measure (APM). See “Alternative Performance Measures” for definitions, purpose and reconciliation.