Sweden · Delayed Price · Currency is SEK Modern Times Group MTG AB Earnings Call Transcripts
Fiscal Year 2026
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Q2 and H1 2026 saw robust organic growth, margin expansion, and high cash generation, led by strong performances in both Midcore and Casual segments. D2C initiatives reduced platform fees, while all major M&A commitments were resolved, enhancing financial flexibility.
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Q1 2026 saw record revenues, strong margins, and high cash flow, driven by standout performance in key titles and rapid AI and D2C adoption. Guidance for 2026 anticipates moderated growth due to seasonality and event pacing, with continued focus on efficiency and innovation.
Fiscal Year 2025
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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.
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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 generation and a positive outlook for Q4 and 2025. Guidance for organic growth and margins was reaffirmed.
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The company unveiled a two-district structure to drive growth, efficiency, and innovation, supported by the Plarium acquisition and a potential PlaySimple IPO. 2025 guidance targets 7–9% organic growth, 20–24% EBITDA margins, strong cash generation, and a SEK 400 million buyback. AI, synergies, and M&A support plans to double in size mid to long term.
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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.
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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
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Q4 and full year 2024 saw record sales, strong organic growth, and high profitability, driven by standout performances in Strategy & Simulation and Word Games. The Plarium acquisition is set to transform the group, while robust cash flow supports continued investment and share buybacks.
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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.
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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.
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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.