Interim report
Page 1
● 5 year strategy on track 31 % organic sales growth and 21 % Viaplay subscriber growth ● 2021 Q2 ● 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 international Viaplay subscriber target upgraded from more than 250k to 500k 31 % organic sales growth with reported sales of SEK 3,072m ( 2,624m including SEK 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 ) including SEK -50m impact of Viaplay International expansion . Operating income up 98 % on an underlying basis when excluding SEK 33m contribution from the Viasat Consumer business in Q2 2020 Total reported operating income of SEK 179m ( 2,594 ) including ACI of SEK 9m ( 54 ) and previously announced IAC of SEK -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 of SEK 3.41 ( 2.20 ) Net income from total operations of SEK 92m ( 2,515 ) , with EPS of SEK 1.18 ( 37.34 ) Financial overview ( 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 ) ¹ Operating income Net income , continuing operations Net income , discontinued operations² ) Net income , total operations Basic earnings per share ( SEK ) Adjusted net income from continuing operations ³ ) Adjusted earnings per share from continuing operations ( SEK ) ³ ) Q2 2021 3,072 31.3 % 244 9 253 -74 179 87 5 92 1.18 n nordic entertainment group 266 3.41 Q2 2020 2,624 -12.6 % 156 54 210 2,383 2,594 2,517 -3 2,515 37.34 148 2.20 H1 2021 6,054 23.2 % 407 57 463 -74 390 242 -4 238 3.15 497 6.58 H1 2020 5,994 -6.9 % 375 54 429 2,383 2,813 2,673 -2 2,671 39.67 305 4.53 Full year 2020 12,003 0.1 % 978 100 1,077 2,109 3,186 2,869 -643 2,226 33.06 957 14.21 1 ) The divestment of the NENT Studios UK content distribution business in June resulted in a capital loss of SEK -74m , which is reported within Items affecting comparability . The Q2 2020 IACs included a capital gain of SEK 2,383m arising from the combination of the Viasat Consumer and Canal Digital businesses . The Viasat Consumer business was consolidated until the beginning of May 2020 , and contributed with sales of SEK 238m and operating income of SEK 33m in Q2 2020. Please see page 17 for details . 2 ) Discontinued operations comprise NENT Group's non - scripted , branded entertainment and events businesses . Splay One was divested in April and the sale of the remaining businesses is expected to be completed in Q3 or Q4 2021. 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 20 for details . Alternative performance measures used in this report are explained and reconciled on pages 16-20 .