Significant profit improvement for Bonnier Group 2024

Bonnier Group’s net sales increased to SEK 23,194 million. Operating profit exceeded two billion, the best in recent history, and amounted to SEK 2,124 million. The group has available net cash of SEK 6.0 billion, adjusted for lease liabilities and Bonnier Fastigheter’s net debt, an increase in net cash of SEK 0.9 billion compared to the previous year.

“Strong demand for news and books, not least in digital formats, has contributed to the higher operating profit, says Erik Haegerstrand, CEO of Bonnier Group. The recovery in property values ​​and good returns on investments in Bonnier Capital and liquidity management boosted this year’s result. Our strong balance sheet gives us great opportunities to invest in both existing and new businesses.”

The year in brief

Bonnier Books’ publishing businesses performed well for yet another year, reporting record sales of SEK 8,392 million and a stable profit level.
BookBeat achieved positive results while revenues increased by 21%. The German publishing operations once again had a good year and results in Sweden, Finland and the UK improved. The total operating profit amounted to SEK 684 million (763), which, adjusted for items affecting comparability, represents an improvement of SEK 176 million. Operating cash flow strengthened.

Bonnier News improved its results in 2024. The digital subscription business strengthened further during the year and digital revenues grew by 12% compared to 2023 through both an increased number of subscriptions and a higher average price. During the year, the focus on creating growth through +Allt subscriptions to Swedish private customers continued. The +Allt offering gives subscribers digital access to national news, more than 50 local media outlets and more than 100 magazines. At the end of 2024, more than 800,000 subscribers had access to +Allt.
Publicly traded Readly, where Bonnier News is the main owner and whose business consists of digital subscription revenues, improved its results significantly.
Total revenues increased by 4% to SEK 10,172 million. EBITA amounted to SEK 836 million, an improvement of SEK 146 million after adjustments for acquisitions.
During the year, the Finnish media group HSS Media with three titles in Ostrobothnia, Finland was acquired.

SF Studios’ operations developed positively during the year. Net sales decreased slightly while EBITA improved and amounted to SEK 52 million. The year ended with a successful launch of the film Jönssonligan kommer tillbaka, which became the Swedish Christmas film of the year; by the end of January it had been seen by over 235,000 movie theatre visitors.

Adlibris’ book sales via e-commerce to the Swedish public sector grew significantly in 2024. Total sales were unchanged compared to the previous year, while earnings decreased slightly. In 2024, Adlibris made significant investments in rebuilding the logistics facility in Morgongåva, north of Stockholm, with the latest technology for logistics automation.

Bonnier Fastigheter increased its operating profit due to acquired properties and increased rents. Positive changes in the value of the property portfolio of SEK 1,052 (-1,043) million strengthened the year’s earnings. Net sales increased to SEK 983 (876) million with an EBITA of SEK 761 (672) million.
Bonnier Fastigheter continued to grow through both acquisitions and its own project development. During the year, the company acquired 14 properties, partly due to the division of the JV company Hållbo AB, which has developed residential properties.
The office rental market is tentative, but Bonnier Fastigheter had a positive net leasing during the year. The total value of the property portfolio amounted to SEK 21,482 million, compared to SEK 18,609 million the previous year. The loan-to-value ratio has increased from 42% to 44%.

Bonnier Capital’s assets amount to a value of SEK 2,483 million. During the year, Bonnier Capital invested approximately SEK 700 million, of which SEK 440 million in Safe Life was the largest single investment. Positive value development for the holdings in Acast and Natural Cycles, among others, resulted in value increases of approximately SEK 400 million.

The Group’s net debt amounts to SEK 2.6 billion, excluding accounting liability for leased premises of SEK 1.2 billion. The debt has increased compared to the previous year as a result of investments within Bonnier Fastigheter. The investment business has also made acquisitions, but the current cash flows from the business have financed these. Bonnier Fastigheter’s liabilities amount to SEK 8.6 billion. The rest of the group has available net cash of SEK 6.0 billion, an increase of SEK 0.9 billion since the previous year.