Edition:
India

Nordic Entertainment Group Q2 Operatng Income Up At SEK 2,59 Bln


Wednesday, 22 Jul 2020 

July 22 (Reuters) - Nordic Entertainment Group AB ::INTERIM REPORT JANUARY-JUNE.Q2 SALES OF SEK 2,624M (3,566) WITH ORGANIC GROWTH OF -13% REFLECTING IMPACT OF COVID-19.ORGANIC SALES WERE DOWN 13% DUE TO VARIOUS IMPACTS OF COVID-19 ON OUR SUBSCRIPTION AND ADVERTISING REVENUES.VIAPLAY'S EXCEPTIONAL SUBSCRIBER INTAKE CONTINUED INTO Q2 WITH 206K PAYING SUBSCRIBERS ADDED.Q2 OPERATNG INCOME SEK 2,594 MILLION VERSUS SEK 434 MILLION YEAR AGO.VIAPLAY REVENUES WERE DOWN 4% DUE TO TEMPORARY PRICE REDUCTIONS THAT WE PROACTIVELY IMPLEMENTED AT AN EARLY STAGE OF CRISIS FOR OUR SPORTS CUSTOMERS.WE EXPECT OUR ADVERTISING SALES TO BE DOWN SUBSTANTIALLY LESS IN Q3 THAN IN Q2.Q2 NET INCOME (TOTAL OPERATIONS) SEK 2,515 MILLION VERSUS SEK 348 MILLION YEAR AGO.OUR OVERALL PERFORMANCE IN Q2 HAS DEMONSTRATED RESILIENCE OF BOTH OUR PRODUCTS AND PEOPLE, AS WELL AS RELEVANCE OF OUR STREAMING STRATEGY.OTHER SUBSCRIPTION REVENUES WERE DOWN 34% DUE TO DECONSOLIDATION OF VIASAT CONSUMER, AS WELL AS TEMPORARY SPORTS PACKAGE PRICE REDUCTIONS BY THIRD PARTY DISTRIBUTION PARTNERS. 

Company Quote

439.4
-0.6 -0.14%
26 Nov 2020