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Modern Times Group (MTG) investor relations material
Modern Times Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record revenues and adjusted EBITDA in Q4 and full year 2025, driven by the Plarium acquisition and strong performance across key franchises, with organic growth of 9.4% for the year and 8% in Q4, exceeding guidance.
Implemented a new District model and transformation program from 2026, supporting mid-core and casual segments and targeting USD 20 million in annual savings.
Completed a pre-IPO study for PlaySimple, with preparations underway for a potential listing in India in 2026.
Four consecutive quarters of organic growth, with strong momentum entering 2026 and a clear strategy for continued growth.
Financial highlights
Q4 2025 net sales reached SEK 3,123 million, up 84% YoY, and full-year net sales were SEK 11,579 million, both at record levels and in the upper half of guidance.
Adjusted EBITDA was SEK 717 million in Q4 (23% margin) and SEK 2,648 million for the year, up 58% YoY, both at the top end of guidance.
Unlevered free cash flow was SEK 878 million in Q4 and SEK 1,723 million for the year, with a 66% cash conversion rate.
Net income was SEK -62 million for the year, with adjusted net income at SEK 1.4 billion and Adjusted EPS of SEK 11.33.
Outlook and guidance
Entered 2026 with strong momentum, especially for RAID: Shadow Legends and new game launches, and will provide 2026 guidance in Q1.
Ongoing transformation in the Midcore District expected to yield over USD 20 million in annual savings by end of 2026.
IPO of PlaySimple in India targeted for the second half of 2026, with majority ownership intended.
- TimeTickerHeadlineOpen
- 6 FebCPT
2025 results beat guidance; Sun Belt focus, asset sales, and share buybacks drive 2026 strategy. - 6 FebCRI
Q1 2025 saw record revenue, a return to profit, and strategic spin-offs for future growth. - 6 FebCRI
H1 2025 saw a return to profit, record revenues, and strong cash from major space projects. - 6 FebSCW
Q2 2025 revenue up 120% y/y, driven by record Asian contract and backlog growth. - 6 FebSCW
Revenue up 89% y/y, record backlog, and new strategy for European optical payload leadership. - 6 FebSCW
Q2 2024 revenue up 115% y/y, backlog nearly doubled, driven by major space contracts. - 6 FebSCW
Space segment drives 29% revenue growth, strong backlog and contracts support 2025 outlook. - 6 FebSCW
73% revenue growth, record backlog, and major space contracts drive expansion and investment. - 6 FebPENG
All proposals passed, with no questions raised and results to be filed on Form 8-K. - 6 FebSCW
Q1 2025 revenue surged 97% year-over-year, with strong backlog and new contracts secured.
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