Q1 operational performance encouraging as we look forward
During the first quarter MTG saw strong continued underlying growth from PlaySimple and Ninja Kiwi, with stabilization and early signs of recovery from InnoGames, who despite a significant YoY decline saw encouraging improvements in the second half of the quarter. Revenues were down 4% year on year in reported rates(-11% in constant FX) due to elevated comparison numbers in Q1 2022. Total marketing spend amounted to 41% of revenues in Q1, reflecting an improving marketing landscape in the second half of Q1. The group reported adjusted EBITDA of SEK 263 million in the period, with a
