Revenue up, profit down at Bonnier

Swedish publisher Bonnier Books’s revenue grew 7% to SEK7.4 billion (A$1b) in 2022, while earnings fell 39% to SEK385 million (A$54.3m), reports the Bookseller.

The drop in earnings was attributed to rising paper prices, among other factors. Results in the report by parent company Bonnier Group did not break out results by country, but the report did note that audio subscription service BookBeat now has more than 700,000 customers.

‘The overall picture for 2022, as well as for the start of 2023, means we are optimistic about the upcoming year, both in terms of the core business and investments in existing areas,’ said Bonnier Group CEO Erik Haegerstrand. ‘With our strong cash position, there are also many exciting opportunities for new investments and acquisitions.’

Category: International news