Brief: Modern Times Group Q4 Adjusted EBITDA At SEK 193 Mln

Modern Times MTG AB

14/01/2021 13:19

Jan 14 (Reuters) - Modern Times Group MTG AB  MTGb.ST :
    * MTG RELEASES TRADING UPDATE FOR Q4 2020
    * DURING Q4 2020, NET SALES AMOUNTED TO SEK 1,064 MILLION
AND
ADJUSTED EBITDA AMOUNTED TO SEK 193 MILLION
    * ORGANIC REVENUE DEVELOPMENT OF ESPORT SEGMENT EXCEEDS
GUIDANCE
PROVIDED FOR 2H 202
    * GROUP ADJUSTED EBITDA IS IN LINE WITH PROVIDED GUIDANCE
    * MTG'S FOCUS ON FURTHER M&A ACTIVITIES CONTINUE, IN LINE
WITH
COMPANY'S BUY & BUILD STRATEGY
    * COMPANY IS IN ONGOING NEGOTIATIONS FOR A NEW ACQUISITION
OF 100
PERCENT OF SHARES IN A MOBILE GAMES DEVELOPER
    * ESL GAMING IS, AND EXPECTS TO BE, IN DISCUSSIONS WITH
PARTNERS
REGARDING ESPORTS SERVICE PROJECTS
    * MTG HAS ENTERED INTO A NON-BINDING LETTER OF INTENT WITH
PROSPECTIVE SELLERS, PURSUANT TO WHICH INITIAL PURCHASE PRICE
(IN EVENT OF AN ACQUISITION) WOULD AMOUNT TO APPROXIMATELY
SOMEWHERE BETWEEN USD 130-150 MILLION
    * IT IS NOT CERTAIN THAT ESL GAMING WOULD BE ABLE TO REACH
FINANCIAL AND OTHER TARGETS FOR PROJECTS OR AT ALL

Source text for Eikon:  ID:nWkrb9x1nB 
Further company coverage:  MTGb.ST 

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