Interim report
Page 1
2021 Q1 n nordic entertainment group 5 year strategy on track - 16 % organic sales growth and 25 % Viaplay subscriber growth • Viaplay paying subscribers up 25 % YoY to 3,147k ( 2,510 ) with at least 650k paying subscribers to be added in 2021 • • . 16 % organic sales growth with reported sales of SEK 2,982m ( 3,370m including SEK 723m contribution from subsequently deconsolidated Viasat Consumer business ) 33 % growth in operating income before associated company income ( ACI ) and items affecting comparability ( IAC ) when excluding SEK 96m contribution in Q1 2020 from subsequently deconsolidated Viasat Consumer business Total reported operating income of SEK 210m ( 219 ) including SEK -36m impact of Viaplay international expansion and SEK 47m ( 0 ) of ACI • Net income from continuing operations of SEK 155m ( 156 ) • • • Adjusted net income from continuing operations of SEK 231m ( 158 ) with adjusted EPS of SEK 3.16 ( 2.35 ) Net income from total operations of SEK 145m ( 157 ) , with EPS of SEK 1.99 ( 2.33 ) Successful completion of share issue to raise SEK 4.35 billion for Viaplay expansion and enhanced financial flexibility Financial overview 1 ) ( SEKm ) Continuing operations Net sales Organic growth Operating income before ACI and IAC Associated company income ( ACI ) Operating income before IAC Items affecting comparability ( IAC ) " ) Operating income Net income from continuing operations Net income from discontinued operations 2 ) Net income from total operations Basic earnings per share ( SEK ) Adjusted net income from continuing operations³ ) Adjusted earnings per share from continuing operations ( SEK ) ³ ) Full year Q1 2021 Q1 2020 2020 2,982 3,370 12,003 15.9 % -1.8 % 0.1 % 219 978 100 219 1,077 2,109 210 219 3,186 163 47 210 ཙ , ཙ , ཙ 155 156 2,869 -10 1 -643 145 157 2,226 1.99 2.33 33.06 231 158 957 3.16 2.35 14.21 Items affecting comparability in 2020 included a capital gain of SEK 2,383m and a non - cash impairment charge of SEK -275m . The capital gain arose from the combination of the Viasat Consumer and Canal Digital businesses in Q2 2020. The Viasat Consumer business was consolidated until the beginning of May 2020 , and contributed sales of SEK 723m and operating income of SEK 96m in Q1 2020. The impairment charge related to the UK studios distribution business and was made in Q4 2020. Please see page 16 for details . 2 ) Discontinued operations comprise NENT Group's non - scripted , branded entertainment and events businesses . Please see note 4 for details . This report refers to NENT Group's continuing operations unless otherwise indicated . 3 ) Adjusted net income and earnings per share from continuing operations exclude items affecting comparability and the amortisation of acquisition - related intangibles within NENT Group and Allente . Please see page 19 for details . Alternative performance measures used in this report are explained and reconciled on pages 15-19 .