MTG delivers full year guidance and outperforms a weak market in Q4
Organic revenues down 4 percent year on year in the fourth quarter, while market is expected to be down by almost 10 percent. Pro forma group sales up 5 percent for the full year. Marketing investments up from the third quarter but lower than originally planned, which reflected strict focus on healthy levels of return on UA spend. MTG therefore reported an adjusted EBITDA of SEK 299 million in the quarter, with a margin of 22 percent. Full year margin was also higher than expected at 25 percent. The group continues to have a strong balance sheet and bought back SEK 132 million worth of shares