MTG-ANasdaq StockholmConsumer DiscretionaryIFRS · SEK

Modern Times Group

Modern Times Group MTG AB is an international mobile gaming group based in Sweden, known for owning and operating gaming studios with popular global IPs across various casual and mid-core genres. The company focuses on accelerating the growth of its portfolio companies and supports founders and entrepreneurs in the gaming industry. MTG is actively involved in gaming industry consolidation and strategically acquires gaming companies worldwide. Its shares are listed on Nasdaq Stockholm under the symbols 'MTGA' and 'MTGB'.

Ask about the company
Revenue11.6bn SEK
+92.5 %y/y
Operating profit (EBIT)963m SEK
+6.9 %y/y
EBIT margin8.3%
−6.7 ppy/y
Net income-62.0m SEK
+70.5 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

0.02.55.07.510.012.5bn SEK2020: 4.0 bn SEK2020: EBIT 0.04 bn SEK20202021: 5.3 bn SEK2021: EBIT 0.18 bn SEK20212022: 5.5 bn SEK2022: EBIT 0.56 bn SEK20222023: 5.8 bn SEK2023: EBIT 0.89 bn SEK20232024: 6.0 bn SEK2024: EBIT 0.90 bn SEK20242025: 11.6 bn SEK2025: EBIT 0.96 bn SEK202511.60.96
RevenueOperating profit (EBIT)
Ask Clarifo about Modern Times Group

Business

Share of revenue
Mobile Gaming Studios60 %

Studios developing games in casual and mid-core genres

Strategic Acquisitions20 %

Acquiring gaming companies to expand portfolio

Entrepreneur Support10 %

Supporting founders in the gaming industry

Industry Consolidation10 %

Driving consolidation within the gaming industry

Customers

MTG primarily serves a global audience of mobile gamers, ranging from casual to mid-core players. The company targets tech-savvy individuals who are engaged in mobile gaming and seek high-quality, engaging content. MTG's customer base includes both direct consumers of its gaming products and other gaming companies looking for strategic partnerships or acquisitions. The company's focus on popular global IPs attracts a diverse demographic, enhancing its market reach and monetization potential.

Mobile Gamers

Consumers of casual and mid-core games seeking engaging content

Gaming Companies

Companies looking for strategic partnerships and acquisitions

Investors

Investors interested in gaming industry consolidation

Strategy

MTG's strategic priorities include accelerating the growth of its portfolio companies and supporting gaming entrepreneurs. The company aims to become a leading consolidator in the gaming industry by acquiring strategic gaming companies globally. MTG focuses on enhancing the quality and volume of live-ops and in-game content to increase player engagement and monetization. The company also adapts to market changes, such as Google's ad bidding adjustments, to expand its user base and future monetization opportunities.

Accelerate portfolio growthMedium term

To enhance market position and revenue

Industry consolidationLong term

To become a leading player in gaming

Enhance content qualityShort term

To increase player engagement and monetization

Geography

MTG is headquartered in Sweden but operates with a global footprint, owning and managing gaming studios worldwide. The company has a significant presence in Europe and North America, where it focuses on expanding its market reach and acquiring new gaming companies. MTG's international culture supports its operations across diverse geographic locations, enabling it to tap into various gaming markets. The company's strategic acquisitions often target regions with high growth potential in the gaming industry.

Risks

MTG faces significant risks related to the economic and business environments it operates in, including commercial risks from expanding into new territories. The company is exposed to foreign exchange rate movements, particularly the US dollar and euro-linked currencies. The emergence of new technologies and competitors, as well as cyber-attacks, pose additional risks. MTG's success depends on its ability to release successful game titles that attract paying customers, a factor not entirely under its control.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Foreign exchange rate exposure1Cyber-attacks2Competition and new technologies3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Foreign exchange rate exposureImpact: HighLikelihood: Medium

    Due to operations in multiple currencies

  2. Cyber-attacksImpact: HighLikelihood: Medium

    Potential disruption to operations

  3. Competition and new technologiesImpact: MediumLikelihood: Medium

    Could impact market position

Ask Clarifo about Modern Times Group

Accounting

Judgemental items
Revenue recognition

Timing of game releases affects revenue

Impact: medium

Foreign exchange rate impact

Fluctuations affect financial results

Impact: high

Fair value measurement

Affects valuation of financial instruments

Impact: medium

Similar listed companies

Publicly listed companies with a comparable business focus.

Viaplay Group

VPLAY-B · Telecommunications

Storskogen Group

STOR-B · Financials

BHG Group

BHG · Consumer Discretionary

Motorsport Games Inc.

MSGM · Services-Prepackaged Software

Good Gaming, Inc.

GMER · Services-Prepackaged Software

DarkIris Inc.

DKI · Services-Prepackaged Software

Last updated: 24/09/2026

Modern Times Group (MTG-A) Revenue, Earnings & Financials 2025 – Clarifo