Springer Nature Reports Growth in First Nine Months of 2024

Springer Nature AG & Co. KGaA announced significant progress in the first nine months of 2024, confirming its full-year outlook. The company's revenue increased by 6%, reaching €1.37 billion, primarily driven by gains in its Research segment, with an underlying 7% uplift in journals. Adjusted operating profits also surged, growing by 9% to €379 million. These achievements align with the goals set during Springer Nature's IPO.

CEO Frank Vrancken Peeters attributed the firm's success to strategic investments in technology and AI, which enhanced research publication and supported communities. The company published over one million articles related to the UN Sustainable Development Goals and launched new Nature titles. It aims to make half of its primary research open access in 2024.

Springer Nature has improved its financial leverage from 2.9x to 2.5x net debt/EBITDA by using IPO proceeds to reduce debt. This fiscal enhancement allowed the company to project its 2024 revenue between €1.82 billion to €1.85 billion and adjusted operating profit between €505 million to €520 million. CFO Alexandra Dambeck highlighted the focus on enhancing the product mix and operational efficiency.