5 year strategy on track - 31% organic sales growth and 21%
Viaplay paying subscribers up 21% YoY to 3,287k (2,716) with 140k subscribers added QoQ, of which 113k were Nordic subscribers and 27k were international subscribers. 2021 year end internationalViaplay subscriber target upgraded from more than 250k to 500k31% organic sales growth with reported sales of
SEK 3,072m (2,624m includingSEK 238m contribution from subsequently deconsolidated Viasat Consumer business)Operating income before associated company income (ACI) and items affecting comparability (IAC) up 56% to
SEK 244m (156) includingSEK -50m impact ofViaplay International expansion. Operating income up 98% on an underlying basis when excludingSEK 33m contribution from the Viasat Consumer business in Q2 2020Total reported operating income of
SEK 179m (2,594) including ACI ofSEK 9m (54) and previously announced IAC ofSEK -74m (2,383 capital gain arising from the merger to create Allente joint venture)Net income from continuing operations of
SEK 87m (2,517)Adjusted net income from continuing operations of
SEK 266m (148) with adjusted EPS ofSEK 3.41 (2.20)Net income from total operations of
SEK 92m (2,515), with EPS ofSEK 1.18 (37.34)
Financial overview | |||||||
Full year | |||||||
(SEKm) | Q2 2021 | Q2 2020 | H1 2021 | H1 2020 | 2020 | ||
Continuing operations | |||||||
Net sales | 3,072 | 2,624 | 6,054 | 5,994 | 12,003 | ||
Organic growth | 31.3% | -12.6% | 23.2% | -6.9% | 0.1% | ||
Operating income before ACI and IAC | 244 | 156 | 407 | 375 | 978 | ||
Associated company income (ACI) | 9 | 54 | 57 | 54 | 100 | ||
Operating income before IAC | 253 | 210 | 463 | 429 | 1,077 | ||
Items affecting comparability (IAC)1) | -74 | 2,383 | -74 | 2,383 | 2,109 | ||
Operating income | 179 | 2,594 | 390 | 2,813 | 3,186 | ||
Net income, continuing operations | 87 | 2,517 | 242 | 2,673 | 2,869 | ||
Net income, discontinued operations2) | 5 | -3 | -4 | -2 | -643 | ||
Net income, total operations | 92 | 2,515 | 238 | 2,671 | 2,226 | ||
Basic earnings per share (SEK) | 1.18 | 37.34 | 3.15 | 39.67 | 33.06 | ||
Adjusted net income from continuing operations3) | 266 | 148 | 497 | 305 | 957 | ||
Adjusted earnings per share from continuing operations (SEK)3) | 3.41 | 2.20 | 6.58 | 4.53 | 14.21 |
President & CEO's comments
"The momentum that we have established continued into the second quarter of our five-year strategy period, and we are well on track to reach our goals. 21%
The launch of
Other subscription revenues (33% of sales) were up 30% YoY on an organic basis when excluding last year's contribution from the Viasat Consumer business. This reflected the growth in revenues from Allente in particular, as well as the low comp from last year.
Advertising revenues (31% of sales) were up 28% YoY on an organic basis, as advertising spending continued to recover from the lows in Q2 2020. We estimate that our overall Nordic TV and radio advertising market share was up, and demand levels continue to be high.
Revenues for the continuing studios businesses (2% of sales) were up 19% YoY on an organic basis, with the
Our EBIT before ACI and IAC was up 98% when excluding last year's contribution from the Viasat Consumer business but including our investments in the international expansion of
Our joint venture Allente is on track to deliver the
We are moving ahead quickly with our expansion in the Nordics and internationally, as well as executing on new opportunities as they arise. We are investing in more and more original local content, as well as securing key acquired content for many years to come. In addition to the launches in the US and
We are learning a lot through the pandemic and establishing flexible new ways of working that will serve us well as our offices gradually re-open. It has undoubtedly further accelerated consumer adoption of streaming services and we are, as always, totally focused on delivering the best customer experiences in the most sustainable way for all of our stakeholders.
President & CEO
Shareholder information
2021 Annual General Meeting
The AGM resolved to re-elect Board members
The AGM resolved to implement a long-term incentive plan for 2021, and that
The AGM approved the remuneration to the Board and auditor, in accordance with the Nomination Committee's proposal, and resolved to adopt new updated guidelines for the remuneration of the senior executives, in accordance with the Board's proposal.
The AGM resolved to authorise the Board to resolve on repurchases of no more than 10%, at any time, of all shares issued by
Financial calendar
Publication of Q3 interim report 26 October 2021
Publication of Full year report 8 February 2022
Webcast and video message from the CEO
A teleconference and webcast will be held at 09.00
To participate in the conference call, please dial:
US: +1 646 741 3167
The access code for the call is 8549677.
Click here to see the video message from the CEO
Contact us
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Notes to editors
https://news.cision.com/nordic-entertainment-group/r/q2-2021-interim-report-january-june,c3388196
https://mb.cision.com/Main/16563/3388196/1447396.pdf
https://news.cision.com/nordic-entertainment-group/i/nent-group-q1-2021-video-message-from-the-ceo,c2937795
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