MTG reports strong Q1 with revenues up 11%, adjusted EBITDA up 51% and an operating margin of 27%
Our Q1 revenues grew by 11%, including a 1% uplift from currencies, to SEK 1,447 million, driven by PlaySimple’s established portfolio which now includes Word Search, the newly consolidated Snowprint and InnoGames’ successful live-ops. We reported a strong adjusted EBITDA of SEK 396 million and a margin of 27%. The performance was driven by the scale gained by PlaySimple in 2023, the lower cost base and growing browser revenues in InnoGames along with lower UA spending. Today, we also initiated our latest share repurchase program which will run until our 2024 AGM.Financial highlights Q1