ReportModern Times Group
Annual Report 2019: Shaping the Future of Entertainment
103 pages~250 min full read
Key insights
7 takeaways · ~3 min read- 01MTG's 2019 strategy focused on profitable growth in esports and gaming, driven by the ESL Pro Tour launch, Kongregate's revised strategy, and Innogames' mobile revenue optimization.See it on page 9
- 02MTG divested Nova Broadcasting Group in Bulgaria for EUR 185 million (SEK 1,917 million) in January 2019 and Zoomin in October 2019, to focus on its core esports and gaming verticals.See it on page 25
- 03MTG announced annual savings, redundancy costs, and impairment charges in 2019 as part of a strategic review and evaluation of its gaming portfolio.See it on page 95
- 04MTG's esports vertical, comprising ESL and DreamHack, saw external sales of SEK 1,712 million in 2019, up from SEK 1,515 million in 2018, but reported an EBIT loss of SEK -430 million.See it on page 31
- 05The gaming vertical generated SEK 2,531 million in external sales in 2019, an increase from SEK 2,296 million in 2018, with an EBIT of SEK 269 million.See it on page 32
- 06Negotiations for a strategic joint venture with HUYA Inc. for China esport expansion and an investment in ESL, initially agreed upon in September 2019, were mutually terminated in January 2020.See it on page 25
- 07MTG's total borrowings were reduced to zero by December 31, 2019, from SEK 3,679 million at the end of 2018, with previous borrowings transferred to Nordic Entertainment Group.See it on page 79
Summary
Corporate responsibility and sustainability priorities are covered in MTG’s Annual Corporate Responsibility Report, published 19 S EGMENTAL PERFORMANCE 31 Other Group Information 34 Financial Policies and Risk Management 36 Governance and Responsibilities 41 Internal Control Report 101 ALTERNATIVE PERFORMANCE It’s impossible to reflect on 2019 without first commenting on the split of MTG into two companies in March – Nordic Enter- tainment and new MTG.
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