Modern Times Group (MTG), the digital entertainment company, has published its Q4 2020 financial results report.
Net sales declined by 9 per cent to SEK 1,064 million (€105.7m) with a negative impact of foreign exchange rates of 6 per cent. Organic Net sales declined by 3 per cent.
“MTG continues to show solid operational performance and high profitability as we report our final figures for the full year and Q4 2020, a challenging but transformative year for the company,” said Group President and CEO Maria Redin writes in the report CEO Letter.
Maria Redin added: “While we were rocked when the pandemic hit society – and us as part of it – in February 2020, we quickly regained our footing thanks to the impressive and hard work from all our people within the group. We’ve remained focused and confident, while we’ve dared to turn every stone to ensure business continuity. As a result, we stand stronger as a group now than what we did one year ago.”
Full year conclusions: