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Storytel Interim Report Q4, 2023

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STOCKHOLM, Feb. 15, 2024 /PRNewswire/ — “Storytel continued its transformation journey and delivered yet another strong quarter to conclude 2023”, says Johannes Larcher, CEO, Storytel.

Financial Highlights Q4

Fourth quarter 2023 compared to the fourth quarter 2022

Streaming revenue up 16% to 858 (742) MSEK; or 14% at constant exchange rates (CER)Group revenue increased by 9% to 946 (867) MSEK Adjusted Gross profit up 20% to 387 (322) MSEK, equaling a margin of 40.9% (37.2%) Gross profit was down 24% to 246 (322) MSEKAdjusted EBITDA increased by 62% to 86 (53) MSEK, equaling a margin of 9.1% (6.1%) EBITDA was -12 (36) MSEKAdjusted Operating profit of -8 (-32) MSEK, and -680 (-50) MSEK including IACsBasic and diluted earnings per share amounted to -9.34 (-1.30) SEKCash flow from operations before changes in working capital amounted to -25 (12) MSEKOperational cash flow amounted to 47 (12) MSEK

January – December 2023 compared to the period January – December 2022

Streaming revenue grew 12% to 3,242 (2,888) MSEK; or 9% at constant exchange ratesGroup revenue increased by 9% to 3,489 (3,200) MSEK, or 10% when excluding Russia Adjusted EBITDA increased by 169% to 248 (92) MSEK, equaling a margin of 7.1% (2.9%) EBITDA was 150 (-68) MSEKBasic and diluted earnings per share amounted to -10.63 (-5.68) SEKCash flow from operations before changes in working capital amounted to 96 (-116) MSEKOperational cash flow amounted to 90 (-139) MSEK

Other Highlights Q4

Storytel recognized Items Affecting Comparability (IACs) of 672 MSEK, following the sharpened focus on profitability. Of these IACs, 465 MSEK relate to non-cash impairment charges on goodwill attributed to Audiobooks.com  Storytel launched a strategic partnerships with the Dutch telecom operator KPN, which has already been driving meaningful subscriber acquisition in The Netherlands

Highlights after the end of the quarter

Storytel announced an efficiency optimization initiative that will be implemented during the first quarter of 2024, including a 13% reduction in workforceStorytel upgraded its mid-term targets to reach group revenues of around 4.5 BSEK in 2026 with a streaming revenue CAGR of 10-12%, an adjusted EBITDA margin of above 15%, and an operational cash flow of above 10% of revenue In 2024, Storytel expects to deliver group revenue growth around 10% with an adjusted EBITDA margin of above 12% and operational cash flow above 7% of revenueStorytel Books and Nextory reached an agreement to distribute Storytel Books’ titles on Nextory’s platform as of 1 February 2024Storytel extended the existing revolving credit facility (RCF) until 2 April 2025 and reduced the facility to 750 MSEK, at otherwise unchanged terms 

Table 1 Key Performance Indicators
 

TSEK

Q4 2022

Q1 2023

Q2 2023

Q3 2023

Q4 2023

YTD 2022

YTD 2023

Streaming Total

Revenue

742,283

742,081

798,881

842,407

858,209

2,887,763

3,241,579

Revenue excl Russia

742,374

742,081

798,881

842,407

858,209

2,848,329

3,241,579

Adjusted Gross profit

304,594

317,067

344,949

366,414

373,795

1,210,037

1,402,226

Adjusted Gross margin

41.0 %

42.7 %

43.2 %

43.5 %

43.6 %

41.9 %

43.3 %

Gross profit

304,594

317,067

344,949

366,414

246,503

1,174,469

1,274,934

Avg. Paying Subscribers (thousands)

2,036′

2,041′

2,055′

2,144′

2,201′

2,046′

2,111′

ARPU (SEK/month)

122

121

130

131

130

118

128

Streaming Nordics1

Revenue

498,336

496,630

543,765

571,625

573,674

1,919,046

2,185,694

Adjusted Gross profit

184,767

200,992

227,364

241,027

243,380

740,789

912,764

Adjusted Gross margin

37.1 %

40.5 %

41.8 %

42.2 %

42.4 %

38.6 %

41.8 %

Gross profit

184,767

200,992

227,364

241,027

186,564

717,199

855,947

Avg. Paying Subscribers (thousands)

1,132′

1,125′

1,122′

1,169′

1,183′

1,100′

1,150′

ARPU (SEK/month)

147

147

162

163

162

145

158

Streaming Non-Nordics

Revenue

243,947

245,451

255,117

270,782

284,535

968,717

1,055,885

Revenue excl Russia

244,038

245,451

255,117

270,782

284,535

929,284

1,055,885

Adjusted Gross profit

119,828

116,075

117,585

125,387

130,415

469,248

489,462

Adjusted Gross margin

49.1 %

47.3 %

46.1 %

46.3 %

45.8 %

48.4 %

46.4 %

Gross profit

119,828

116,075

117,585

125,387

59,939

457,271

418,986

Avg. Paying Subscribers (thousands)

904′

916′

933′

975′

1,018′

946′

961′

ARPU (SEK/month)

90

89

91

93

93

85

92

Books

Revenue

193,069

130,083

128,668

139,970

170,946

646,572

569,667

Adjusted Gross profit

85,141

68,472

67,525

65,098

94,799

329,641

295,894

Adjusted Gross margin

44.1 %

52.6 %

52.5 %

46.5 %

55.5 %

51.0 %

51.9 %

Gross profit

85,141

68,472

67,525

65,098

85,015

329,641

286,110

Group total2

Revenue

866,663

796,293

851,070

895,758

946,099

3,200,382

3,489,220

Adjusted Gross profit

322,377

315,501

333,183

351,869

387,221

1,248,713

1,388,954

Adjusted Gross margin

37.2 %

39.6 %

39.1 %

39.3 %

40.9 %

39.0 %

39.8 %

Gross profit

322,377

315,501

333,183

351,869

245,593

1,213,145

1,247,326

1) Streaming revenue includes all of Storytel Norway’s revenue.

2) In the consolidated accounts, Storytel Norway is reported in accordance with the equity method. As a result, the Streaming revenue listed in Table 1 is higher than in the consolidated statement of accounts in order to provide a more accurate figure for average revenue per subscriber. Please see Note 5 for additional details.

FNCA Sweden AB is the Company’s Certified Adviser.

The information was provided, through the agency of the above contact person, at the time stated in this press release, by Cision.

For more information, please contact:
Mattias Frithiof, Head of Investor Relations, Storytel Group
Tel: +46 76 535 26 74
Email: mattias.frithiof@storytel.com

Malin Lindborn, Head of Communications, Storytel Group
Tel: +46 735 33 17 70
Email: malin.lindborn@storytel.com

About Storytel
Storytel is one of the world’s largest audiobook and e-book streaming services and offers more than one million titles on a global scale. Our vision is to make the world a more empathetic and creative place, with great stories to be shared and enjoyed by anyone, anywhere and anytime.

The streaming business within the Storytel Group is conducted under the brands Storytel, Mofibo and Audiobooks.com. The publishing business is managed by Storytel Books, and by the audiobook publisher StorySide. The Storytel Group operates in over 25 markets, with focus on ten core markets: the five Nordic countries, the Netherlands, Turkey, Poland, Bulgaria, and the USA. The headquarters are located in Stockholm, Sweden.

The following files are available for download:

https://mb.cision.com/Public/11546/3928898/8a8e21977b576421.pdf

Year-end report 2023 – Storytel AB publ – Feb 15 2024

View original content:https://www.prnewswire.co.uk/news-releases/storytel-interim-report-q4-2023-302062763.html

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TESSAN Showcased New Charging Products at CES 2025, Enhancing Its Role in Modern Life and Travel

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LAS VEGAS, Jan. 11, 2025 /PRNewswire/ — At CES 2025, TESSAN showcased its relentless pursuit of technological innovation and enhanced user experience, engaging with a diverse audience to reinforce its commitment to being a dependable companion in users’ lives and travels. The event was a vibrant platform for interaction, where TESSAN not only presented its latest advancements but also connected with media, social influencers, and attendees through various engaging activities.

The exhibition garnered substantial media attention, with TESSAN being interviewed by various outlets. In acknowledgment of its innovative contributions, TESSAN received an award from SlashGear, a leading technology media platform known for its in-depth reviews and news on tech, cars, gaming, and science since 2005. The event’s excitement was further amplified by social media influencers, who explored the exhibition and shared their experiences with their followers, significantly enhancing the reach and impact of TESSAN’s innovations.

A highlight of the event was the interactive “What’s Your Next Journey?” activity, which invited attendees to participate for a chance to win an exclusive poster of the American singer-songwriter Rachael Yamagata, who recently partnered with TESSAN to inspire travelers.

Central to the exhibition were TESSAN’s latest products that underscored the brand’s commitment to innovation and user-centric design. The Travel Adapters, with its lightweight, compact, and multifunctional design, was a standout. Designed for global use, it caters to frequent travelers, ensuring seamless connectivity across different countries. The 140W Universal Travel Adapter, in particular, captured significant attention as an essential tool for global connectivity.

The Charging Station was another focal point, offering multi-device charging capabilities, rapid charging technology, and safety features. Suitable for both home and office environments, it meets the needs of users with multiple devices. The 100W Charging Station, a 9-in-1 powerhouse, exemplifies this by charging multiple gadgets simultaneously at lightning speed, appealing to busy individuals and tech enthusiasts alike.

Additionally, the Smart EV Charger demonstrated TESSAN’s commitment to sustainable and efficient solutions. Compatible with various electric vehicle models, it provides a convenient and eco-friendly charging option for EV users.

TESSAN’s diverse product range embodies the brand’s vision and core values, aiming to be a reliable companion in both daily life and travel. By prioritizing simplicity and convenience, TESSAN designs products that eliminate complexity and meet modern efficiency needs. Innovation is key, with advanced technologies like GaN (Gallium Nitride) enhancing performance and compatibility. Sustainability is also central to TESSAN’s mission, as demonstrated by eco-friendly practices and partnerships with ClimatePartner and One Tree Planted. Notably, TESSAN has launched an initiative to plant 10,000 trees across the U.S. and beyond, reinforcing its commitment to environmental sustainability and climate action.

Beyond product innovation, TESSAN enhances its impact through strategic collaborations. A notable partnership with globe-acclaimed photographer and adventurer Mattias Klum underscores the brand’s reliability. Additionally, TESSAN has teamed up with Rachael Yamagata to launch a global initiative aimed at uncovering travelers’ stories and inspiring exploration of the unknown.

As TESSAN continues to innovate and expand its product offerings, it remains dedicated to meeting the evolving needs of users worldwide. The brand invites everyone to join in its journey of exploration and discovery, promising more high-quality products that enhance connectivity and enrich lives.

About TESSAN

TESSAN, a trusted partner in charging solutions, is committed to enriching experiences both at home and during travel. The brand offers a wide array of products, including multifunctional power strips, travel adapters, wall extenders, and smart home devices. Supported by a robust R&D and production team, TESSAN develops innovative socket products for users across the globe. With the trust of over 20 million users, TESSAN empowers their journeys from home to every destination, promoting environmentally conscious electricity usage.

For more information, visit www.tessan.com or the TESSAN Amazon store, and follow TESSAN on Facebook, Instagram, and YouTube.

CONTACT: Derien Lin, derien@tessan.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/tessan-showcased-new-charging-products-at-ces-2025-enhancing-its-role-in-modern-life-and-travel-302347816.html

SOURCE TESSAN

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Docking Drawer to Revolutionize Appliance Garage Safety at KBIS 2025

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Docking Drawer, the leader in in-drawer outlet solutions, is set to showcase its newly configured Safety Interlock Outlets for appliance garages at the Kitchen & Bath Industry Show (KBIS) in Las Vegas this February 2025.

SAN RAMON, Calif., Jan. 11, 2025 /PRNewswire-PRWeb/ — Docking Drawer’s Unwavering Dedication to Safety

“At Docking Drawer, we’re not just creating products; we’re setting new standards for safety and functionality.”

When it comes to safety, no one in the industry matches the focus and innovation of Docking Drawer. Their Safety Interlock Outlets for appliance garages bring a unique, forward-thinking solution to an often-overlooked area in kitchen design. These safety outlets automatically de-energize an appliance garage power source when the cabinet door is closed, ensuring that appliances are safely powered off when contained inside the cabinet.

Docking Drawer is also the only company dedicated to creating in-cabinet electrical solutions that meet the strict code requirements of the Canadian marketplace. Their Safety Interlock Outlets are designed to make in-cabinet electricity compliant in Canada while offering consumers in all regions an additional layer of safety for in-cabinet power.

Advanced Limit Switch Technology

Docking Drawer’s Safety Interlock Outlets for appliance garages utilize an advanced Limit Switch system, designed to work seamlessly with power outlets concealed by a cabinet door. This intuitive feature detects when the cabinet door is closed, instantly cutting power to the connected outlet and all powered appliances.

Now Compatible with Any Appliance Garage Door

An updated Limit Switch feature now offers different switch options to accommodate all appliance garage door types, including traditional cabinet doors, pocket door setups, and more. The newly designed Limit Switch now offers two functions to choose from:

Power Off When Limit Switch is Depressed: This state is ideal for traditional cabinet doors, where closing the door depresses the switch to cut power safely.Power On When Limit Switch is Depressed: This state is perfect for pocket doors, where the door being pushed back upon opening activates the switch, turning the power on.

Customizable Connectivity

The flexibility of Docking Drawer’s solutions also allows for connecting multiple limit switches to a single safety outlet or vice versa, offering customization options to adapt to the unique demands of any project.

“At Docking Drawer, we’re not just creating products; we’re setting new standards for safety and functionality,” states Scott Dickey, founder of Docking Drawer. “Our Safety Interlock Outlets represent the culmination of our dedication to innovation and empowering homeowners and professionals with safer, more organized spaces—even beyond the kitchen and bathroom.”

Join Us at KBIS 2025

Don’t miss the opportunity to experience the future of kitchen safety. Visit Docking Drawer at KBIS 2025 in Las Vegas this February to see firsthand how their Safety Interlock Outlets are revolutionizing appliance garage safety.

About Docking Drawer:

Founded in 2014, Docking Drawer offers a full array of ETL Listed electrical solutions. From our core in-drawer outlets developed specifically for use inside the drawer to our family of safety interlock outlets which add peace of mind to in-cabinet electrical setups, our products are designed to create more organized, functional and safer spaces.

Media Contact

Paul Hostelley, Docking Drawer, 1 530-362-5055, paul@dockingdrawer.com, dockingdrawer.com

View original content:https://www.prweb.com/releases/docking-drawer-to-revolutionize-appliance-garage-safety-at-kbis-2025-302347293.html

SOURCE Docking Drawer

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More than 85 Governments to Gather in Riyadh to Lead Global Action on Minerals at Fourth Future Minerals Forum

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RIYADH, Saudi Arabia, Jan. 11, 2025 /PRNewswire/ — Over 85 governments from key mineral-producing and consumer nations, including 16 countries from the leading G20 economies, and 50 ministers and 13 vice ministers – have confirmed they will join the 2025 FMF Ministerial Roundtable on January 14, 2025.

The Ministerial Roundtable, a multi-stakeholder, government-led initiative, is the traditional opener of FMF, spurring international action to increase investment in mineral supply and build capacity in the Super Region of Africa, Western and Central Asia, and other supply regions. It is set to be the largest and most senior gathering of mineral resources officials in the world

Discussion will cover progress made over the past year on the three Ministerial Roundtable initiatives:

Development of an International Critical Minerals FrameworkEstablishment of Centers of Excellence to build capacity in sustainability (Morocco), talent development (South Africa), and technology innovation (Saudi Arabia).Advancements in Certification Systems to ensure responsible mineral sourcing.

His Excellency Khalid Al-Mudaifer, the Vice-Minister for Mining Affairs of Saudi Arabia’s Ministry of Industry and Mineral Resources, emphasizes that, “The meeting is an important step towards achieving sustainable development in the minerals sector globally. It is an ideal platform for delivering solutions, developing legislation on best practices in the field of sustainable mining, and exploring ways to invest in mining projects to achieve economic and social development in producing countries.”

Joining him are high-profile leaders, including ministers from supplier and financing like Brazil, South Africa, DRC, India, Egypt, Italy, Nigeria, Qatar, Pakistan, Kazakhstan, Uzbekistan, Malaysia, Thailand, Morocco, Indonesia, France, USA and the United Kingdom, discussing opportunities for global cooperation.

 “This year, discussions will seek to enhance collaboration between governments, industry, and communities to drive more investment in minerals, and development through value addition in supplier countries. We want to support the pressing need for sustainable mining practices, resilient supply chains, and value-driven partnerships in the minerals industry.”

Importantly, the outcomes of the Ministerial Roundtable are not confined to the event itself but form an ongoing, year-round program. Regional Coordination Groups will continue to drive the implementation of key initiatives.

“FMF is emerging as the largest global hub for minerals collaboration and action – no other platform brings together government ministers and senior industry leaders at this scale.” Al-Mudaifer concluded.

 

SOURCE Future Minerals Forum

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