MTG provides restated financials
- MTG publishes historic financial results based on reclassification of Czech, Baltic and African (excluding Trace) businesses as ‘discontinued operations’
- Restated figures for each quarter of 2016 and Q1 2017 now available to download at mtg.com, together with segmental figures for each quarter of 2015
MTG’s transformation from a traditional national broadcaster into a global digital entertainer accelerated during 2016 and included both acquisitions and disposals. As previously announced, the Czech, Baltic and African (excluding Trace) operations will now be reported as ‘discontinued operations’ in MTG’s Q2 results.
The table below shows the effects of the restatement on the income statement and earnings per share for 2016 and Q1 2017.
| Reported | Restated | Reported | Restated | |
| (SEKm) | Q1 2017 | Q1 2017 | FY 2016 | FY 2016 |
| Continuing operations | ||||
| Net sales | 4,228 | 3,704 | 17,299 | 14,999 |
| Operating income | 183 | 137 | 1 347 | 1 060 |
| Operating margin | 4.3% | 3.7% | 7.8% | 7.1% |
| Net income | 118 | 84 | 963 | 744 |
| Basic earnings per share (SEK) | 1.44 | 1.23 | 12.88 | 10.99 |
| Total operations | ||||
| Net income | 118 | 118 | -109 | -109 |
| Basic earnings per share (SEK) | 1.44 | 1.44 | -3.19 | -3.19 |
MTG has completed the sale of its shareholding in the Czech operations, and its free-TV and production businesses in Ghana and Nigeria. The divestments of the Baltic and Tanzanian businesses are awaiting regulatory approval. It has now been finalised that the sale of the Czech operations will result in a revised net capital gain of approximately SEK 90m, which will be reported in the ‘discontinued operations’ line of MTG’s Q2 2017 results to be published on 18 July.
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NOTES TO EDITORS
MTG (Modern Times Group MTG AB (publ.)) is a leading international digital entertainment group and we are shaping the future of entertainment by connecting consumers with the content that they love in as many ways as possible. Our brands span TV, radio and next generation entertainment experiences in esports, digital video networks and online gaming. Born in Sweden, our shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).
Contact us:
press@mtg.com (or Tobias Gyhlénius, Head of Public Relations; +46 73 699 27 09)
investors@mtg.com (or Stefan Lycke, Head of Investor Relations; +46 73 699 27 14)
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