MTG reported a 117% increase in net sales on a constant-currency basis for Q2 2025, primarily driven by the consolidation of Plarium and organic growth in key franchises.
02
Adjusted EBITDA grew 50% year-on-year to reach a trailing twelve-month total of SEK 2.1 bn, with the adjusted EBITDA margin improving to 22% from 20% in the prior year.
03
The company maintained a strong liquidity position in Q2 2025, generating SEK 280 m in free cash flow with an unlevered cash conversion rate of approximately 48%.
04
Key franchises including Word Games, Heroes of History, Warhammer 40k, Tacticus, and F1 Clash drove performance, with top titles achieving revenue growth rates between 5% and 18%.
05
CAPEX as a percentage of revenue decreased to 20%, contributing to the company's overall margin expansion during the quarter.
06
MTG reaffirmed its 2025 outlook, targeting 3–7% organic sales growth and an adjusted EBITDA margin range of 21–24%.
Insights
01
MTG reported a 117% increase in net sales on a constant-currency basis for Q2 2025, primarily driven by the consolidation of Plarium and organic growth in key franchises.
02
Adjusted EBITDA grew 50% year-on-year to reach a trailing twelve-month total of SEK 2.1 bn, with the adjusted EBITDA margin improving to 22% from 20% in the prior year.
03
The company maintained a strong liquidity position in Q2 2025, generating SEK 280 m in free cash flow with an unlevered cash conversion rate of approximately 48%.
04
Key franchises including Word Games, Heroes of History, Warhammer 40k, Tacticus, and F1 Clash drove performance, with top titles achieving revenue growth rates between 5% and 18%.
05
CAPEX as a percentage of revenue decreased to 20%, contributing to the company's overall margin expansion during the quarter.
06
MTG reaffirmed its 2025 outlook, targeting 3–7% organic sales growth and an adjusted EBITDA margin range of 21–24%.