Q4 and Full Year 2009 Report

Q4 and Full Year 2009 Report

11 February 2010 - Modern Times Group MTG AB (publ.) (“MTG” or “the Group”)
(Nasdaq OMX Stockholm's Large Cap market: MTGA, MTGB) today announced its
financial results for the fourth quarter and full year ended 31 December 2009.


Fourth Quarter Highlights
•	Net sales up 6% year on year to SEK 4,076 (3,845) million - up 4% year on year
at constant exchange rates
•	Free-TV Scandinavia net sales up 7% year on year to SEK 1,160 (1,083) million
- up 4% year on year at constant exchange rates  
•	Net growth of 21,000 Nordic premium pay-TV subscribers quarter on quarter - up
9% year on year to 823,000
•	Operating income up year on year to SEK 624 (615) million when excluding
associated company income and non-recurring items
•	Operating income of SEK -2,627 (746) million including SEK 101 (131) million
of associated company income and SEK -3,352 (-) million of non-recurring items
primarily relating to Nova Televizia goodwill impairment
•	Pre-tax profit of SEK -2,722 (647) million
•	Net income of SEK -2,845 (528) million
•	Basic earnings per share of SEK -43.36 (7.50)

Full Year Highlights
•	Net sales up 8% year on year to SEK 14,173 (13,166) million - up 3% year on
year at constant exchange rates
•	Operating income of SEK 1,654 (1,947) million when excluding associated
company income and non-recurring items
•	Operating income of SEK -1,428 (3,671) million including SEK 270 (651) million
of associated company income and SEK -3,352 (1,074) million of non-recurring
items
•	Pre-tax profit of SEK -1,625 (3,610) million
•	Net income of SEK -2,008 (2,927) million
•	Basic earnings per share of SEK -30.86 (43.25)
•	Board of Directors to propose increased annual dividend payment of SEK 5.50
(5.00) per share

Hans-Holger Albrecht, President and Chief Executive Officer, commented: “We have
continued to generate healthy sales growth and reported our highest ever fourth
quarter and full year sales in 2009, despite the economic recession and
declining advertising markets across Europe. Furthermore, our underlying
operating profits were also up year on year in the fourth quarter to record
levels, which reflects our ongoing focus on balancing selective investments in
the long term development of the business with low cost, efficient operating
structures. As previously announced, we have written down the value of some of
our emerging market assets, but the underlying performance was better than we
expected and better than the results reported by peer group companies.

“The results clearly illustrate the benefits of operating an integrated
broadcasting business model. Not only have we grown our audience shares over the
past year by selectively investing in programming and adding new channels, but
we have also increased our market shares and enhanced the competitive
positioning of the integrated Viasat media house across our operating
territories. The Scandinavian free-TV, Nordic pay-TV, Emerging Market pay-TV and
Internet Retailing businesses all delivered sales growth and higher profits in
2009 than in 2008, whilst our emerging market free-TV businesses were profitable
again on a combined basis in the fourth quarter. The Scandinavian free-TV
operations in particular reported accelerated sales growth in the quarter,
whilst our Nordic premium pay-TV subscriber base grew by 9% in 2009.

“This operating performance, our healthy cash flows, and our strong and flexible
financial position have together enabled us to propose an increased annual
dividend payment, which demonstrates our commitment to delivering total
shareholder returns.”
 

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 7136 2052
Sweden:	+46 (0)8 5051 3785
US:		+1 212 444 0481
The access pin code for the conference is 6430880

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 7111 1244
Sweden:	+46 (0)8 5051 3897
US:		+1 347 366 9565
The access pin code for the replay facility is 6430880#
***

For further information, please visit www.mtg.se, or contact:

Hans-Holger Albrecht, President & Chief Executive Officer
Mathias Hermansson, Chief Financial Officer
Tel:       		+46 (0) 8 562 000 50
 
Investor & Analyst Enquiries
Matthew Hooper / Oscar Hyléen 	
Tel: 			+44 (0) 7768 440 414 / +46 (0) 707 620 024
Email:   		investor.relations@mtg.se 
                                                                                
   
Press Enquiries
Bert Willborg	
Tel: 			+44 (0) 7912 280 850
Email:   		bert.willborg@mtg.se

Modern Times Group is a leading international entertainment broadcasting group
with the second largest geographical broadcast footprint in Europe. MTG's Viasat
Broadcasting is the largest free-TV and satellite premium pay-TV operator in
Scandinavia and the Baltics, and also operates free-TV channels in the Czech
Republic, Hungary, Slovenia, Bulgaria and Ghana. MTG's TV assets are broadcast
in a total of 30 countries and have 125 million viewers. MTG is also the major
shareholder in Russia's largest independent television broadcaster (CTC Media -
Nasdaq: CTCM), and the number one commercial radio operator in the Nordic and
Baltic regions.

Modern Times Group MTG AB Class A and B shares are listed on Nasdaq OMX
Stockholm's Large Cap market (‘MTGA' and ‘MTGB').

The information in this Interim Report is that which Modern Times Group MTG AB
is required to disclose under the Securities Markets Act. This information was
released for publication at 13.00 CET on 11 February 2010.