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Modern Times Group (MTG) investor relations material
Modern Times Group CMD 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Strategic direction and transformation
Pursues a buy-and-build strategy, acquiring studios with evergreen games and strong financials, resulting in a global footprint and over 90 live games entertaining 9 million daily users.
Transformation includes integration of Plarium, creation of Midcore and Casual Districts, and a new district-based structure to unlock synergies and value, with implementation from January 2026.
Evolving brand and internal culture, engaging employees in rebranding and reinforcing commitment to growth and entertainment relevance.
Plans to expand the gaming village by welcoming new studios and potentially adding a third district.
Maintains disciplined M&A, capital allocation, and value creation, with a tenfold revenue growth track record over eight years.
Financial guidance and performance
2025 guidance: organic growth of 7–9%, total reported revenue of SEK 11.4–11.7 billion, and adjusted EBITDA margin of 21–24%.
Medium-term targets: organic growth of 3–7%, EBITDA margin above 24%, and unlevered cash conversion over 60%.
Achieved over 2x revenue and ~3x adjusted EBITDA since 2021, driven by capital recycling, strong cash generation, and minimal equity dilution.
Strong cash generation with SEK 14 billion generated since 2022, SEK 4 billion returned to shareholders, and SEK 10 billion invested in M&A.
Announced a SEK 400 million share buyback program running until 15 May 2026.
Business developments and operational initiatives
Midcore District leverages shared services, proprietary tech, and unified analytics/marketing platforms, targeting over USD 20 million in annualized cost savings by end of 2026.
Focus on evergreen titles like Raid: Shadow Legends and Forge of Empires, with long-term engagement and high monetization; new games pipeline aims for 2–4 soft launches per year.
Casual District, led by PlaySimple, is scaling through operational excellence, AI-driven platform, and localization, with ~60% revenue and ~145% DAU growth since acquisition.
AI adoption has reduced art creation time by up to 50%, increased code writing speed by 10%, and enabled rapid localization and marketing asset production.
Direct-to-consumer initiatives, including web stores and proprietary platforms, are expanding to reduce platform fees and improve margins, with DTC share of revenues growing.
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