Viaplay delays results, again
November 29, 2023
Struggling international streamer Viaplay has again pushed back the release of its Q3 results as it continues restructuring negotiations.
The board decided to push back the publication of its Q3 2023 numbers to after close of trading on NASDAQ Stockholm on November 30th, as intense discussions continue with its largest shareholders, lenders and bondholders on recapitalisation of the Group. It had already delayed the results at the end of October.
Viaplay said then that it was considering the sale of some of its international operations as it refocused on the Nordic market and the Netherlands. The streamer said at the time that it would publish its Q3 results by November 29th at the latest.
As Viaplay’s stock tumbled earlier this year, France’s Canal+ stepped into take a 12 per cent stake, to be joined by Czech investment outfit PPF Group with a 6.3 per cent stake and Schibsted with a 10.1% stake. Viaplay had earlier announced plans to cut 25 per cent of its staff and consider a potential sale of the company following the departure of former CEO Anders Jensen and the appointment of former MTG CEO Jørgen Madsen Lindemann in his place.
Q2 results saw sales rise by 16 per cent to SEK4.6 billion (€410.3m) but operating income fell SEK6.5 billion to a SEK5.8 billion loss, leading Viaplay to downgrade its guidance and predictions about future streaming subscriber numbers.