- We delivered another quarter with improved margins and increased revenue. For the third quarter in a row, we also show growth in the number of full-paying subscribers, despite lower costs for marketing. That, in combination with an increasingly attractive portfolio of magazines and newspapers, paves the way for future profitability, says
1 April -
- Revenue for the period totaled SEK million 167.4 (144.1), an increase by 16.2 per cent compared to the second quarter 2022.
- The number of full-paying subscribers (FPS) increased by 1.7 per cent to 454,745 (447,196) at the end of the quarter.
-
Gross profit increased by 35.6 per cent to
SEK 66.1 million (48.8), corresponding to a gross margin of 39.5 percent (33.8) . -
The gross contribution margin for the period was 26.7 per
cent (20.1) . -
Adjusted operating result (EBITDA) (excl. IAC) was
SEK -0.4 million (-19.7), corresponding to an adjusted EBITDA-margin of -0.2 percent (-13.7) . -
Adjusted operating result (EBIT) (excl. IAC) was SEK million -14.6 (-25.7), corresponding to an adjusted operating margin of -8.7 per
cent (-17.8) . -
Operating result (EBIT) was
SEK -20.9 million (-28.2), corresponding to an operating margin of -12.5 percent (-19.6) . -
Net financial items for the quarter amounted to
SEK 1.9 million (0.9), which consisted of exchange rate effects as well as a value adjustment of the earn-out consideration. -
Earnings per share were
SEK -0.5 (-0.7) before and after dilution.
1 Jan -
- Revenue for the period totaled SEK million 328.8 (287.9), an increase by 14.2 per cent compared to the first six months of 2022.
- The number of full-paying subscribers (FPS) increased by 1.7 per cent to 454,745 (447,196) at the end of the period.
-
Gross profit increased 27.7 per cent to
SEK 124.7 million (97.6), corresponding to a gross profit margin of 37.9 percent (33.9) . -
The gross contribution margin for the period was 24.0 per
cent (16.7) . -
Adjusted operating result (EBITDA) (excl. IAC) was
SEK -9.5 million (-51.3), corresponding to an adjusted EBITDA-margin of -2.9 percent (-17.8) . -
Adjusted operating result (EBIT) (excl. IAC) was SEK million -34.9 (-63.0), corresponding to an adjusted operating margin of -10.6 per
cent (-21.9) . -
Operating result (EBIT) was
SEK -54.3 million (-72.6), corresponding to an operating margin of -16.5 percent (-25.2) . -
Net financial items for the quarter amounted to
SEK 1.1 million (-0.4), which consisted of exchange rate effects as well as a value adjustment of the earn-out consideration. -
Earnings per share were
SEK -1.4 (-1.9) before and after dilution.
Significant events during the period
- On 3 April, the Board issued a notice for an extraordinary general meeting (EGM) on
26 April 2023 , at the request ofTidnings AB Marieberg in its capacity as largest owner, with the primary agenda item of electing a new Board. -
On 26 April, the EGM resolved, in accordance with
Tidnings AB Marieberg's proposal, that the number of Board members should be seven. Furthermore, it was resolved to, in accordance withTidnings AB Marieberg's proposal, electMikael Antonsson ,Carolina Brandtman ,Laurent Kayser ,Jan Lund ,Veronica Selin andJesper Wikberg as new Board members together with the existing Board member Malin Stråhle, and to electJan Lund as the new Chairman of the Board. It was resolved to dismiss the other current Board membersPatrick Svensk ,Nicolas Adlercreutz ,Stefan Betzold andNathan Medlock . -
On 8 May, it was announced that, following the completion of
Tidnings AB Marieberg's public offer to the shareholders inReadly , all previous members of the Nomination Committee have resigned from their duties in the Committee, and a new Nomination Committee has been appointed. The members of the Nomination Committee (exceptJan Lund who has been appointed in his capacity of Chairman of the Board) have been appointed based on the ownership structure as of31 March 2023. -
On
30 May 2023 , changes to the senior management team were announced.Mats Brandt stepped down as CEO and the Board decided to appointPhilip Lindqvist as the new CEO as of31 May 2023 . Mats will remain at the Board's disposal during his notice period of six months. -
The Annual General Meeting on 13 June resolved, in accordance with the proposal of the Nomination Committee, to re-elect the Board members
Jan Lund ,Mikael Antonsson ,Carolina Brandtman ,Laurent Kayser ,Veronica Selin , Malin Stråhle andJesper Wikberg .Jan Lund was re-elected as Chairman of the Board. -
On
27 June 2023 , the Board resolved thatReadly International AB (publ) initiate a process to have the company's shares listed on Nasdaq First North Growth Market and delisted from Nasdaq Stockholm, which is expected to be carried out during the fourth quarter of 2023. The company has also decided to cease with the publication of financial targets.
Significant events after the end of the period
- On
17 July 2023 , the Board issued a notice for an EGM to be held on10 August 2023 , with the primary agenda item to approve a publisher agreement withBonnier News AB andBonnier Publications International AS as well as an advertising agreement withBonnier News AB . -
On 10 August, the EGM resolved to approve the publisher agreement with
Bonnier News AB and Bonnier Publication International AS as well as the advertising agreement withBonnier News AB .
The report will be available for download on: https://corporate.readly.com/investors/financial-reports-and-presentations/
For more information, please contact:
This information constitutes inside information that
About
https://news.cision.com/readly/r/continued-revenue-growth-and-on-track-to-profitability,c3818899
https://mb.cision.com/Main/18245/3818899/2232682.pdf
https://mb.cision.com/Public/18245/3818899/862c484b0fd761cb.pdf
https://news.cision.com/readly/i/q2-readly-image,c3206680
(c) 2023 Cision. All rights reserved., source