Viaplay Reveals Financial Insights and Transaction Costs

Viaplay's Significant Financial Moves

Just under a year ago, the streaming powerhouse Viaplay was saved by a recapitalization program involving billions aimed at ensuring the company's survival. This program also led to a near-total dilution of existing owners' shares.

Third Quarter Financial Overview

Viaplay has released its numbers for the third quarter this year. The quarterly report discloses the impacts of the 3.6 billion kronor rescue package and the associated transaction costs, which included consulting fees totaling 396 million kronor.

Financial advisors during the recapitalization process were Carnegie and Morgan Stanley, while Gernandt & Danielsson Law Firm provided legal counsel. A directed issue to new owners Canal+ and PPF was approved in an extraordinary general meeting on January 10.

• Viaplay is implementing several 'self-help measures' to stabilize.
• New investments focus on sports and reality programming.
• Viaplay saw a 6% organic sales growth in its core business.

Current Financial Standing

Despite a new share issue, the net debt remains significantly above one billion. CEO Jørgen Madsen Lindemann emphasized the goals to transform Viaplay Group into a successful, competitive, profitable, cash-positive, and shareholder value-creating enterprise.

In the third quarter, Viaplay reported revenues of 4.4 billion kronor, down from 4.5 billion during the same period last year, while adjusted earnings before interest and taxes showed a real improvement of minus 56 million kronor, significantly bettering last year's minus 321 million. Operating results turned positive at 2 million kronor.

These developments follow a challenging phase characterized by profit warnings, management changes, and the arrival of new major shareholders. Stay updated by downloading our app to never miss important news!