Ahead of the spin-off of its Nordic Entertainment Group, MTG has reported record sales of SEK 4,674 million, the seventh consecutive Q1 where there has been organic growth of 5%.
“Nordic Entertainment delivered another quarter of higher sales and profits, even though we had tough comps from last year and the Winter Olympics on rival channels and services. Viaplay continues to be the main driver of the growth but almost all of our markets and products grew their sales,” said Jørgen Madsen Lindemann, President & Chief Executive Officer. “9% organic growth and 73% profit growth clearly show the potential of this Group. Now we are preparing to split MTG in two in order to accelerate the speed of development and drive shareholder value. We have created two unique businesses that are leaders in their fields and very well positioned for the future.”
Net sales were up 26% on a reported basis to SEK 4,674m (3,704), and up 9% on an organic basis.
In the soon to be split Nordic Entertainment Group, sales were up 6% amid continued growth in online service Viaplay, TV channels Viafree and the Swedish Radio business. TV audiences were down in Sweden and Denmark, but increased in Norway.
Pay-TV sales increased by 7% as new subscribers joined Viaplay, and MTG felt positive effects from earlier price increases.
While DTH subs continued to fall, there was growth within third-party subscriptions.
