Q1 2025 Investor Presentation

The Modern Times Group Q1 2025 investor presentation outlines a period of significant financial expansion, primarily driven by the strategic acquisition of Plarium. The company reported a 79% year-over-year increase in net sales in constant currencies, reaching SEK 2,557 million for the quarter. This growth is supported by a 6% organic sales increase, reflecting sustained performance across the company’s existing gaming portfolio.

Key operational metrics highlight the impact of the Plarium integration, which contributed to a shift in revenue streams and user development. The company maintained a healthy adjusted EBITDA margin of 24% for the quarter, despite increased investment in marketing to scale new and established titles. Cash flow remains a central pillar of the company’s financial health, with SEK 538 million generated from operations in Q1 2025 and a free cash flow of SEK 143 million after accounting for earnout payments. The company’s leverage ratio stands at 0.82x, supported by an LTM EBITDA of SEK 3,058 million.

The scope of the presentation covers the global gaming operations of the company, with a specific focus on the transition period following the February 1, 2025, consolidation of Plarium. The portfolio includes a diverse range of franchises, such as strategy, simulation, racing, and word games. Looking ahead, the company maintains a positive outlook for the full year 2025, projecting organic sales growth between 3% and 7% and an adjusted EBITDA margin in the range of 21% to 24%. Future performance is expected to depend on disciplined marketing investments, the successful scaling of new game titles, and continued geographical expansion efforts.