MTG studios Snowprint, InnoGames and Playsimple drove record Q4 revenue and 27% margins at the roll-up group. Hutch and Ninja Kiwi revenue declined.
The Swedish firm said it is in the process of completing its $620m acquisition of Raid: Shadow Legends maker Plarium, which it expects will double group revenue.
Ahead of that, though, MTG revealed its Q4 and full-year 2024 results:
Q4 highlights:
- Net sales increased by 8% YoY to SEK 1,693m (~$155m), representing 9% organic growth and 6% in constant currencies
- UA spend of SEK 677m (~$62m), 40% of revenue. That’s up from SEK 600m (~$55m) a year ago, which was 38% of revenue
- Adjusted EBITDA up by 4% YoY to SEK 455m (~$42m) with an adjusted EBITDA margin of 27%
Full year 2024 highlights:
- Net sales increased by 3% to SEK 6,015m (~$550m)
- UA spend of SEK 2,222m (~$203m), 37% of revenue
- Adjusted EBITDA of SEK 1,666m (~$152m), up by 8% with an adjusted EBITDA margin of 28%
MTG also broke out performance by studio:
- PlaySimple revenues “were up significantly from Q3 2024” thanks to Crossword Jam and Word Search Explorer localisation and new game launches.
- InnoGames reported higher sales both YoY and from Q3 2024, driven by Forge of Empires live ops. New title Heroes of History is showing “encouraging early momentum”
- Snowprint revenue almost doubled YoY in Q4 thanks to Warhammer 40,000: Tacticus live ops. A desktop edition is coming this year
- Hutch saw lower revenues as it reshuffled its execs, with cofounder Shaun Rutland moving to executive chairman. MTG Group CPO Oliver Bulloss is interim coCEO until the role is filled permanently
- Ninja Kiwi’s revenues were down. Bloons Card Storm was soft launched in October, and there are two more games incoming: team battle arena game Fightland and SAS Zombie Assault 4 follow-up Zombie Assault: Resurgence
MTG group president and CEO Maria Redin said of the Plarium acquisition: “This is a transformative deal that adds one of the world’s best evergreen midcore titles to our offering. Plarium also has state-of-the-art tools for marketing and monetizing games.”
“The acquisition will enable us to take a significant leap towards fulfilling our mission to become a leading gaming group with relevant scale,” she continued. “It also propels us toward a unified ecosystem of industry-leading tools, empowering game makers to drive performance and growth.”
