· MTG reporting record sales in the fourth quarter of 15 %, with an adjusted EBITDA of SEK 84 million
· Esport sales increased by 15 %, with Owned & Operated (O&O) growing by 21 %
· Strong sales growth for the gaming vertical with ARPDAU increasing by 14 percent in constant currencies compared with corresponding period last year
· Portfolio companies InnoGames and Kongregate to introduce nine new mobile first titles spanning four gaming genres to to the market during 2020
STOCKHOLM, February 6th 02.00pm CET, 2020 — Modern Times Group MTG AB (MTG) today publishes its Q4 2019 and full year financial results. MTG delivers record sales in the fourth quarter while making progress on its strategy to become even more commercial and product relevant in esport and gaming.
“Throughout 2019, we have continued to develop our business verticals - esports and gaming - with an emphasis on becoming even more commercial and product relevant. As a result, we have seen both increased sales to record high levels, and improved operational performance.” says President and CEO Jørgen Madsen Lindemann in the report CEO letter.
“From a strategic and product perspective, additional important milestones have been achieved: we have launched the ESL Pro Tour format attracting the best teams in the world, added and grown mobile esport and landed new publisher relationships including a new multi-year agreement with Blizzard” President and CEO Jørgen Madsen Lindemann continues.
Q4 and full year 2019 financial report highlights follow below. For the full below see attached file or www.mtg.com.
Record sales driven by esport and gaming in Q4 2019
- Esports sales were up 15 percent, with O&O growing by 21 percent, supported by investments into sport games and one additional Master property compared with Q4 2018
- Strong sales growth for the gaming vertical, supported by a continued operational recovery in Kongregate and solid development for InnoGame’s Forge of Empires. ARPDAU increased by 14 percent in constant currencies compared with corresponding period last year
- MTG VC fund invested SEK 14 million in two growth companies
Q4 2019 financial highlights
- Net sales growth of 15 percent to SEK 1,163 (1,009) million
- Adjusted EBITDA of SEK 84 (43) million, including adjustments for Items Affecting Comparability of SEK 98 (-18) million, impairment of own capitalized costs of SEK 93 (4) million, Long-term incentive (LTI) programs of SEK 11 (4) million and M&A transaction costs of SEK 5 (12) million
- EBITDA of SEK -123 (40) million, of which SEK 11 million due to the impact of IFRS 16
- Operating income (EBIT) of SEK -206 (-18) million
- Net income from continuing operations of SEK -207 (-66) million
- Basic earnings per share of -3.08 (-1.25)
- Total net income of SEK -367 (478) million
- Cash flow from operations of SEK -34 (594) million
Financial calendar 2020
|Financial report Q1
|| April 28th 2020
|Capital Markets Day
|| April 28th 2020 08.30am-12.00pm ET
|Annual General Meeting
|| May 18th 2020, 01.00pm-03.00pm CET
|Financial report Q2
|| July 23th 2020
|Financial report Q3
|| November 4th 2020
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MTG AB will hold a conference call at 03.00pm CET that will be hosted by President & CEO Jørgen Madsen Lindemann and CFO Maria Redin.
Dial in details:
||+46 850 692 180
||+44 844 571 8892
||+1 631 510 7495
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The access pin code for the call is 863 81 58
To listen to a streamed webcast of the conference call visit:
This information has been published in accordance with the EU Market Abuse Regulation and/or the Securities Markets Act or the Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 02.00pm CET February 6th 2020.
For more information:
Lars Torstensson, EVP Communications & Investor Relations
Direct: +46 (0)702-734 879, lars.torstensson (at) mtg.com
Oliver Carrà, Public Relations Director
Direct: +46 708 666 433, oliver.carra (at) mtg.com
Reach us: firstname.lastname@example.org
Download high-resolution photos: Flickr
Follow: mtg.com / Twitter / LinkedIn
About MTG AB
MTG (Modern Times Group MTG AB (publ.)) (www.mtg.com) is a strategic and operational investment holding company in esports and gaming entertainment. Born in Sweden, the shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).