Brief: Viaplay Group Says Group Organic Sales Growth 7%

Viaplay AB (publ)

01/12/2023 05:48

Dec 1 (Reuters) - Viaplay Group AB (publ)  VPLAYb.ST :
    * QTRLY GROUP ORGANIC SALES GROWTH 7% WITH REPORTED NET
SALES OF
SEK 4,536 MILLION
    * VIAPLAY - MORE THAN 30% REDUCTION IN THE SIZE OF OUR
WORKFORCE
    * WE WILL EXIT THE BALTIC AND POLISH MARKETS BY SUMMER 2025
    * WE HAVE NOW REACHED AGREEMENT TO SELL OUR UK OPERATION
    * NEGATIVE CASH EFFECT OF EXITING THESE LOSS-MAKING
OPERATIONS
WILL BE APPROXIMATELY SEK 2.2 BILLION OVER THE COMING YEARS
    * VIAPLAY GROUP - REACHED AGREEMENT TO SELL PAPRIKA STUDIOS
CONTENT PRODUCTION BUSINESS, SUBJECT TO SHAREHOLDER APPROVAL
    * NOW EXPECT FULL YEAR OPERATING LOSSES BEFORE ACI AND IAC
OF
APPROXIMATELY SEK 1.0 TO 1.15 BILLION
    * OUR FULL YEAR 2023 SALES EXPECTATIONS ARE UNCHANGED
    * SALES AND PROFITABILITY EXPECTATIONS FOR OUR CORE
OPERATIONS IN
2024 ARE UNCHANGED
    * VIAPLAY - EXPECTATION THAT MARGINS WILL THEN GRADUALLY
RISE IN
THE FOLLOWING YEARS TOWARDS THE LONG-TERM OBJECTIVE OF
DOUBLE-DIGIT EBIT MARGINS
    * HAVE RESET OUR YEAR END SUBSCRIBER TARGET

Source text for Eikon:  ID:nWkrcfmx6v 
Further company coverage:  VPLAYb.ST 

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