Modern Times Group MTG AB (MTG) is a publicly listed company. Its Class A and Class B shares are listed on Nasdaq OMX Stockholm’s Large Cap list under the symbols MTGA and MTGB. The Company’s registered office is located at Skeppsbron 18, P.O. Box 2094, SE-103 13 Stockholm, Sweden. The Company’s registration number is 556309-9158.
Operations
Modern Times Group is an international entertainment broadcasting group with the largest geographical broadcast footprint in Europe. MTG's Viasat Broadcasting is the leading free-TV and pay-TV operator in Scandinavia and the Baltics and has broadcasting operations in Bulgaria, Czech Republic, Hungary, Slovenia, Russia, Ukraine and Ghana. Viasat’s free-TV and pay-TV channels and pay-TV platforms attract a total of 125 million viewers in 31 countries. MTG is the major shareholder in Russia’s largest independent television broadcaster - CTC Media (Nasdaq: CTCM).
MTG is the largest commercial radio operator in the Nordic region and the Baltic countries. MTG Radio owns the largest commercial radio broadcasting networks in Sweden and Norway, and has an equity stake in the largest commercial radio broadcasting network in Finland, as well as radio stations and networks in the Baltic countries and MTG Radio’s stations reach over three million listeners every day.
The Group’s Online business area includes the leading Nordic entertainment internet retailer CDON.COM, as well as Gymgrossisten.com, Nelly.com, and Bet24.com.
The Modern Studios business area comprises companies that produce and license a wide range of content, including the Strix Television TV production company.
Business Review
Despite the negative effects of the global economic recession and declining advertising markets, the Group reported 8% year on year net sales growth and record sales in 2009. We invested selectively during the year in order to increase our audience and market shares, but cut back on all non-essential expenditure and focused on further improving our already efficient operating structure.
Our reported results for 2009 were negatively impacted by SEK 3,352 million of non-recurring costs (discussed in detail below), but our underlying operating result clearly illustrates the benefits of operating an integrated broadcasting model with complementary revenue streams. Our Scandinavian Free-TV and Nordic and Emerging Markets Pay-TV businesses were all profitable for the year, as were our Radio, Online and Modern Studios segments.