Sweden · Delayed Price · Currency is SEK Modern Times Group MTG AB Earnings Call Transcripts
Fiscal Year 2025
-
Record revenues and profits were achieved in 2025, driven by the Plarium acquisition and strong franchise performance, with organic growth exceeding guidance. Adjusted EBITDA margins and cash conversion were robust, and momentum remains strong into 2026, especially for RAID: Shadow Legends.
-
Q3 saw 15% organic revenue growth and a doubling of total net sales, driven by new games, live ops, and strong IP integrations. Adjusted EBITDA margin was 23%, with robust cash conversion and confidence in meeting raised 2025 guidance. Plarium and key franchises delivered strong results, while regulatory and market shifts present both challenges and opportunities.
-
The group is executing a buy-and-build strategy, integrating Plarium and forming two divisions to unlock synergies and drive growth. Updated 2025 guidance targets 7–9% organic growth and SEK 11.4–11.7 billion in revenue, with strong cash generation supporting M&A and a new share buyback. AI and direct-to-consumer initiatives are key levers for efficiency and margin expansion.
-
Q2 2025 saw revenues double year-over-year, driven by the Plarium acquisition and 9% organic growth. Adjusted EBITDA rose 50% to SEK 640 million, with strong performance across both casual and mid-core games. Full-year guidance for organic sales growth and margins was reiterated.
-
Q1 2025 saw 6% organic growth and a 77% revenue increase year-over-year, driven by the Plarium acquisition and strong performance in word and strategy games. Adjusted EBITDA margin reached 24%, with full-year guidance for 3–7% organic growth and 21–24% EBITDA margin.
Fiscal Year 2024
-
Record Q4 and full-year 2024 results were driven by strong game performance, increased user acquisition, and robust cash generation. The Plarium acquisition is set to close soon, positioning the group for further growth and integration synergies.
-
The acquisition adds top RPG and casual IPs, proprietary tech, and a talented team, nearly doubling revenue and EBITDA while maintaining strong cash flow and no dilution. Strategic synergies, global expansion, and robust risk management position the group as a leading mobile gaming company.
-
Q3 delivered SEK 1.4 billion in sales, up 1% sequentially but down 2% year-over-year, with strong performance from Warhammer 40,000: Tacticus and increased UA spend. Adjusted EBITDA was SEK 390 million and free cash flow reached SEK 334 million. Full-year guidance for sales growth and margin is reiterated.
-
Q2 2024 saw sales dip 1% year-over-year but Adjusted EBITDA rose 7%, with strong cash flow and margins driven by lower user acquisition spend. The outlook remains positive, with sequential growth expected in H2 and a continued focus on disciplined M&A and share buybacks.