Increased profit for Bonnier Group 2023

EBITA improved by SEK 437 million thanks to contributions mainly from Bonnier Books, Bonnier Fastigheter and SF Studios.
Net sales increased to SEK 22,851 million and EBITA amounted to 1,956 MSEK.

“Overall, we can put a good result in 2023 behind us”, says Erik Haegerstrand, CEO of the Bonnier Group. “Against the backdrop of the weakened economy, we are very satisfied. 2023, like the years before it, has been marked by uncertainty. It is a strength that the group consists of a number of different businesses and that Bonnier Group continues to have substantial funds available for new investments.”

The year in brief

Bonnier News’ revenue increased thanks to the acquisition of Readly. Advertising revenue is declining, but digital readership revenue continues to grow. The result was lower than the previous year.

Bonnier Books’ foreign operations continue to be successful and the audio book service BookBeat increases paying users by 28 %. The result in 2023 significantly better than last year.

SF Studios turns the previous year’s loss into a close to zero result.

Bonnier Fastigheter, thereal-estate operations‚ increases operating profit as a result of acquired properties and increased rents. The net result for the year is burdened by negative value changes in the property portfolio of SEK 1,043 million (SEK -848) million, due to increased yield requirements in the valuation.

Bonnier Capital’s investments amount to a value of SEK 2,602 million.

More about the companies

Bonnier Books shows a strong 2023. Turnover reaches another billion mark and amounts to SEK 8,034 million (SEK 7,416 million). The increase in revenue is attributed, among other things, to growth in the Bonnier Media Deutschland publishing group and the audio book service BookBeat. Bonnier Books UK and the Nordic publishers see another year of subdued autumn/Christmas sales, which affects the full-year outcome. However, Finnish Werner Söderström, the Danish publishers and Bonnier Norsk Forlag all reach their highest revenue levels ever. During the year, Jon Fosse, published by Albert Bonniers Förlag in Sweden, was awarded the Nobel Prize in Literature.

Bonnier Books’ total EBITA amounts to SEK 763 million (SEK 385 million).

Bonnier News delivers a stable result, despite an uncertain macro situation and challenging economic situation for both private and corporate customers. The turnover amounts to SEK 9,784 million (SEK 9,320 million), where the increase in revenue comes from acquisitions, the weakened Swedish krona and growth within the international B2B business. EBITA adds up to SEK 734 million (SEK 884 million), where the decrease compared to the previous year is mainly due to a weakened advertising market, which is partially offset by strong growth in digital subscription revenues and cost reduction through efficiencies. In 2023, an important milestone was reached when over half of Bonnier News’ total revenue comes from digital products and other growth areas such as events, education, and package distribution.

SF Studios. The Nordic cinema market has started to recover after the pandemic, which has led to good results for many films. Net sales amounts to SEK 1,677 million and EBITA SEK -3 million (SEK -75 million). SF Studios reports strong cash flows from operations.

Bonnier Capital has total investments of SEK 2,602 million. During 2023, Bonnier Capital invested approximately SEK 300 million in portfolio companies, mainly in Natural Cycles and Acast.

Adlibris also delivers positive results in 2023. EBITA for the year amounts to SEK 30 million, which is an increase in earnings by SEK 17 million compared to 2022. Adlibris continues to strengthen the margin, increase the efficiency of the logistics chain, improve the freight net and lower sales overheads.

During the year, Adlibris signed an agreement with partners to rebuild and improve the logistics facility in the community Morgongåva, to the north of Stockholm, with modern technology for logistics automation.

Bonnier Fastigheter had a stable operating result for the year 2023. Turnover increased to SEK 876 (704) million with an EBITA of SEK 672 (544) million. The increase is attributable to reduced rental vacancies and increased rental income as a result of price indexation.

The company strengthened its holding in Fastighets AB Hemmaplan, which owns Gottsunda and Rosengård Centrum, by acquiring an additional 15% in the company.

Bonnier Corp improved its results and sold a number of its magazines during the year. The company still owns the magazine Marlin and also runs event activities within outdoor life.

The group’s net debt amounts to SEK 1.0 billion excluding accounting debt for rented premises of SEK 1.3 billion. The debt has increased slightly compared to the previous year as a result of investments within Bonnier Fastigheter and completed acquisitions within the investment business. However, the current cash flows from operations have financed most of these.

Bonnier Fastigheter’s debts amount to SEK 6.1 billion. The rest of the group thus has available net cash of SEK 5.2 billion, an increase of SEK 434 million since the previous year.