Modern Times Group MTG AB (STU:MRTA)
€ 6.505 0.01 (0.15%) Market Cap: 783.03 Mil Enterprise Value: 564.76 Mil PE Ratio: 0 PB Ratio: 0.66 GF Score: 68/100
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Q2 2024 Modern Times Group MTG AB Earnings Call Transcript

Jul 18, 2024 / 08:00AM GMT
Release Date Price: €7.17 (-4.14%)

Key Points

Positve
  • Strong profitability and cash flow generation in Q2 2024.
  • Adjusted EBITDA increased by 7% year over year to SEK426 million.
  • Operating margin improved to 30% in the quarter.
  • Successful localization of games leading to revenue growth in June.
  • High cash conversion rate of 66% for the rolling 12-month period.
Negative
  • Sales declined by 1% year over year in constant currencies.
  • Challenging market environment due to Google's transition to real-time bidding affecting ECPM levels.
  • In-app purchase trends remain highly competitive.
  • Daily active users (DAUs) decreased year over year and sequentially.
  • Tough comparisons for InnoGames due to exceptional performance in the previous year.
Anton Gourman
Modern Times Group MTG AB - Vice President - Communications and IR

Good morning, everyone, and thank you for joining our live stream for our second quarter 2024 results. This event is hosted by our Group President and CEO, Maria Redin; and our CFO Nils Mosko. After the presentation, there will be an opportunity to ask questions.

If you are watching through the live stream, please use the questionnaire feel free to submit your questions. If you are dialing in by phone, please follow the instructions of the operator when the presentation section of the call is over.

I now hand over to our CEO Maria. Maria, over to you.

Maria Redin
Modern Times Group MTG AB - Group President, Chief Executive Officer

Thank you, Anton, and welcome everybody to our Q2 results for this year. Looking at the quarter and our Q2 results, you can see that our Q2 results shows that we are progressing well to raise our guidance for the full year. We have had in the quarter a strong profitability and cash flow generation, and we have made sure to maintain

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