First Quarter Highlights
• Group net sales up 10% year on year to SEK 3,336 (3,042) million
• Group operating income up 15% year on year to SEK 688 (596) million with an operating margin of 21% (20%) when excluding SEK -454 million participation in non-cash intangible asset impairment by associated company CTC Media
• Total Group operating income of SEK 233 (596) million
• Total pre-tax profit of SEK 195 (583) million, and SEK 649 (583) million when excluding MTG’s SEK -454 million share in CTC Media’s asset impairment charge
• Net income of SEK 146 (397) million
• Basic earnings per share of SEK 2.19 (5.85)
• SEK 5 per share ordinary dividend proposed to AGM

Hans-Holger Albrecht, President and Chief Executive Officer, commented: “These results illustrate the benefits of operating a balanced broadcasting business, which combines content ownership and distribution, and generates an almost equal mix of subscription and advertising revenues from multiple channels in multiple territories. Despite the deterioration in the market environment, this successful model has delivered another quarter of double digit sales growth, a 15% increase in the Group’s underlying operating profitability and an operating margin of over 20%.”

“Our media house strategy and increased penetration levels in Scandinavia have enabled us to grow in declining markets, and we are selectively investing to take share in the emerging markets. We continue to adjust our operations to the challenging market conditions, but our position as the primary challenger in most of the markets where we operate provides opportunities to enhance our longer term potential and performance through the downturn. We have strong operating cash flows and our financial position is comfortable with low levels of borrowing and no debt maturities in 2009.”


The company will host a conference call today at 15.00 Stockholm local time, 14.00 London local time and 09.00 New York local time.

To participate in the conference call, please dial:
International: +44 (0) 20 7138 0825
Sweden: +46 (0) 8 5352 6439
US: +1 212 444 0481
The access pin code for the conference is 6332254

To listen to the conference call online, please go to www.mtg.se.

A replay facility will be made available for 7 days after the conference call.

To access the replay, please dial:
International: +44 (0) 20 7806 1970
Sweden: +46 (0) 8 5876 9441
US: +1 718 354 1112
The access pin code for the replay facility is 6332254#

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