MTG reports mixed results

Modern Times group saw growth across the majority of its business during the second quarter, although sales were down in the Baltics.

In the Nordics, MTG added 11,000 net new premium IPTV subscribers during the quarter giving it a total of 167,000. The number of premium DTH customers remained stable at 666,000. The number of basic DTH subscribers was down 10,000 year-on-year to 45,000. Net sales from the Nordic pay-TV business were up 4% year-on-year to SEK1.1bn (€116m). MTG’s free-to-air TV business in Scandinavia saw sales up 13% to 1.1bn.

MTG’s emerging markets pay-TV business had 45,467,000 mini-pay TV subscribers at the end of June, up from 40,182,000 a year earlier. The number of premium DTH subscribers was up 20,000 year-on-year to 224,000. Net sales were up 3% year-on-year to SEK225m. The region’s free-to-air business saw sales down 5% to SEK582m, with sales down 12% in the Baltics to SEK131m.

MTG reported total net sales up 8% year-on-year to SEK3.9bn. Operating income was up 26% year on year to SEK603m.