Nent drives MTG to record Q3 sales and increased profits | Major Businesses | Business
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After a whole host of deals and corporate announcements, especially within its Nent business line, Nordic pay-TV provider MTG has revealed a rather successful third quarter of 2018.
Viaplay 22Oct2018

For the quarter ended 30 September 2018 the company reported record revenues of SEK 4.683 billion ($519.10 million), representing year-on-year growth pf 3%. This was the driver of operating income before IAC of SEK 328 million ($36.36 million) including SEK 7 million transaction costs related to its proposed split in 2019. The group reported total operating income of SEK 340 million ($37.69 million) including items affecting comparability of SEK 12 million, and total net income of SEK 192 million ($21.28 million) including net income from discontinued operations of SEK 2 million, a fall of a million SEK on a yearly basis, and total basic earnings per share of SEK 2.32, flat with the same time in 2017.

Nent Group was a star performer for MTG in the quarter, delivering its eighth consecutive quarter of higher sales and profits. Growth in Q3 2018, like others, was driven by streaming services in general, and Viaplay in particular. While the Viafree streaming service performed well, free-TV sales were though down at constant FX as were studios sales and profits. MTG stressed that it had a ‘healthy’ forward pipeline of contracted productions as it continued to invest in original local dramas and premium sports, in order to drive up subscription and consumption levels.

Going forward, MTG said it was set to make its previously announced split which would likely take place in the first quarter of 2019, and that it had also continued its work on a separate listing of Nent Group expected to take place in March 2019.