Egmont makes progress in 2023

Egmont recorded revenue of EUR 2,377m, EBITDA of EUR 284m and EBIT of EUR 84m in 2023. Revenue grew by EUR 74m, or 3%, but by 12% in local currency. This was the third consecutive year of revenue growth. Operating profit (EBIT) grew by 4%.

The year brought substantial cost inflation, a global decline in the production of computer games, films and series, a dwindling advertising market and considerable additional costs from the introduction of VAT on TV news in Norway. Egmont was also affected negatively by the depreciation of the Norwegian and Swedish currencies.

Despite these challenges in the market, Egmont had a good year in terms of its output of films, TV, computer games, books and magazines. TV 2’s streaming service in Norway reached record numbers of customers, licences at the educational publishers rose to their highest-ever levels, the digital agencies delivered strong results, and the computer games companies had more than 3.5m users per month on their own games, while e-commerce saw improved earnings in a challenged market.