Gaming, eSports continue to lift MTG
July 22, 2019
Modern Times Group (MTG) has published its Q2 financial results, saying it continues to deliver on its strategic direction with sales growth increasing with 14 per cent in both investment verticals eSport and gaming.
The Swedish media group reported eSports Owned & Operated (O&O) sales were up 15 per cent. Gaming sales were up by 19 per cent, delivering a record high adjusted EBITDA margin of 29 per cent.
The compnay saw total net income of SEK 1,419 million (€134.7m) including a capital gain of SEK 1,490 million.
“As we conclude and report the second quarter in 2019 we see strong improvements in both our esport and gaming verticals. We deliver a record high adjusted EBITDA margin of 29 per cent, and we continue to be one of the most active VC players in the landscape through our VC fund, with three new investments made in the quarter,” commented President and CEO Jørgen Madsen Lindemann.