Operating profit after result from associates
Story House Egmont (formerly Egmont Publishing) has businesses in three areas: media, e-commerce and agencies. Revenue and operating earnings grew strongly in 2020, driven mainly by e-commerce and agencies.
Story House Egmont has a portfolio of nine majority- and minority-owned Nordic e-commerce companies which are experts in the outdoor, parenting, hobby, health & beauty, home & interior and kitchen categories, among others. 2020 was a very good year for e-commerce, with Covid-19 generating very strong demand for online retailers. The companies in the e-commerce portfolio grew by an average of 50%, with the portfolio’s total revenue climbing from EUR 363m in 2019 to EUR 537m.
Story House Egmont invested in Norwegian company Skitt Fiske, increased its holding in Sweden’s Jollyroom to 49% and reached agreement at the end of the year on the acquisition of Swedish e-commerce company Royal Design Group AB, which was completed early in 2021. The e-commerce portfolio also includes Outnorth, Fjellsport, Bageren och Kocken, NiceHair, Med24 and Garnius.
In the media area, Story House Egmont is behind popular magazines and digital titles both in the Nordic region and internationally. Despite a structural decline in the market for printed weeklies and magazines and Covid-19’s negative effect on the advertising market, the media business was able to deliver solid earnings with key markets like Sweden and Norway delivering strong results.
The children’s book business in the UK and Poland and parts of the German book business were sold during the year to HarperCollins.
Story House Egmont has majority or minority stakes in eight Nordic agencies – s360, KAN, Ingager, Markedspartner, Klintberg Niléhn, Core Content, Okto and Belong – which are leaders in areas such as performance marketing and posted substantial revenue growth and strong earnings in 2020.