Record year for Bonnier Books
Bonnier Books reported a record year for sales in 2021, according to Swedish parent company Bonnier Group, reports the Bookseller.
Bonnier Books’ 2021 sales totalled SEK 6.9 billion (A$1.04b), up from SEK 6.1 billion (A$920m) in 2020. This was due to ‘sharp growth’ in publishing and the performance of audiobook and ebook streaming service BookBeat. Bonnier Books had its most profitable year on record, recording EBITA (earnings before interest, taxes and amortisation) of SEK 573 million (A$86m), up from SEK 392 million (A$58.9m), despite ‘significant continued investments in BookBeat and losses from book stores’.
Bonnier Books also reported a ‘strong rise’ in physical book sales, particularly in children’s titles. ‘The success of children’s books was most apparent in Germany, and was one of the main reasons for the German publishing group’s record-breaking results this year, as it achieved its highest ever sales and profits for the second year in a row,’ Bonnier said.
Bonnier Books UK had a strong sales and profit performance ‘in a market where more books were being sold and at a higher price than for the past 10 years’, Bonnier said.
BookBeat’s sales rose from SEK 508 million (£40.2m) last year to SEK 690 million (£54.6m) in 2021, on the back of 38% growth in user numbers due to its expansion to Norway, Switzerland and Austria. Sales at Swedish online bookstore Adlibris were also up 3%.
For Bonnier Group as a whole, EBITA increased by SEK 500 million (A$75.5m).
Bonnier did not break out the results of local Australian publishing arm Echo.
Category: International news