Readly International AB (publ) reports full-year profitability for the first time, underpinned by significant revenue growth, improved margins and free cash flows. In the fourth quarter, revenues grew by 7.2 per cent to SEK 182.8 million (170.6), adjusted operating profit (EBIT) was SEK 11.8 million (9.2) and free cash flow was SEK 21.3 million (-1.2). For the full year, revenues increased by 9.4 per cent to SEK 725.3 million (663.2), with underlying growth of 16.1 per cent when adjusted for VAT, currency effects, and divestments. Annual gross profit reached SEK 292.4 million (250.3), with an improved gross margin of 40.3 per cent (37.7). Full year adjusted operating margin (EBIT) was 5.1 per cent (-4.4). Adjusted for divestments, the number of FPS decreased 1.9 per cent to 427,227 (435,562) and was in line with expectations following this year's price increases.
- In 2024, Readly achieved full-year profitability for the first time with an adjusted EBITDA margin of 8.7 per cent (2.4) and positive free cash flow of SEK 58.4 million (-59.9). This milestone underscores the scalability of our business and with it, Readly demonstrates the viability and profitability of the all-you-can-read business model. As we look ahead our focus remains on product development and balanced growth while maintaining solid profitability. With an efficient and driven team, we are ready to build on this success and move forward with high ambitions, says Philip Lindqvist, president and CEO of Readly.
1 October - 31 December 2024
1 January - 31 December 2024
Significant events during the period
On 18 October the Board announced the decision to remove the dividend policy and proposed an extra dividend of SEK 1.75 per share.
The Extraordinary General Meeting on 25 November resolved, in accordance with the proposal of the board of directors, an extra dividend of SEK 1.75.
Significant events after the end of the period
There are no significant events after the end of the period.
The year-end-report 2024 will be available for download on: https://corporate.readly.com/investors/financial-reports-and-presentations/
For more information, please contact:
Linnéa Aguero, Head of PR & Communications, +46 725 03 32 31, linnea.aguero@readly.com
This information constitutes inside information that Readly International AB (publ) is obliged to publish in accordance with EU Market Abuse Regulation 596/2014. The information in this press release has been published by the above contact person, at the time specified by the Company's news distributor Cision at the time of publication of this press release.
About Readly
Readly is a European category leader for digital magazines and newspapers. The company offers a digital subscription service where customers have unlimited access to 8,000 national and international titles - all in one app and at a fixed monthly fee. Readly has subscribers in 50 countries and content available in 17 different languages. In collaboration with around 1,000 publishers worldwide, Readly is digitising the newspaper and magazine industry. In 2024, revenues amounted to SEK 725 million. The Readly share is listed on Nasdaq First North Growth Market and FNCA Sweden AB is the company's Certified Advisor. For more information, please visit https://corporate.readly.com