In the fourth quarter alone, the company lost 2.9 billion.
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The large deficits continue for the crisis-stricken TV and streaming company. It shows the fresh the quarterly report.
The result after tax for the whole of 2023 ended at minus 9.747 billion Swedish kroner.
By comparison, Viaplay had a profit of 323 million in 2022.
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The recent figures for the fourth quarter are not pleasant reading either.
The result after tax ended at minus 2.881 billion Swedish kroner. At the same time, revenues increased slightly from the same time last year, to 4.9 billion.
Crisis
Viaplay is in major financial problems, something that became seriously known last summer.
Towards the end of last year, the Viaplay share collapsed on the Stockholm Stock Exchange. The company had then come up with figures for the third quarter, and at the same time presented plans for a restructuring of debt and the acquisition of billions in fresh money.
The company presented blood-red figures throughout 2023.
The big losses in the fourth quarter are not even the worst of last year. In the second quarter, losses after tax totaled SEK 5.9 billion.
– Will take time
Viaplay CEO Jørgen Madsen Lindemann states in the quarterly report that the quarterly results were in line with the update they came up with in January, and that they are now sticking to their targets for 2024.
– The recently completed restructuring process is part of the transformation of Viaplay Group, which is ongoing and will take time.
– Now we can fully focus on the many operational improvements that need to be made for the business, the Viaplay manager further states.
Several steps have been taken by the company recently to scale down and focus on the Nordic region. Depreciation in the markets they withdraw from is an important part of the costs in the fourth quarter.
– We have entered into an agreement on the sale of our British operations, withdrawing from the Baltics and North America, and we will be out of Poland by the middle of next year, according to Lindemann.
Viaplay expects SEK 17.2–17.8 billion in revenue for its core operations in the Nordics, the Netherlands and Viaplay Select.
Viaplay’s total revenue in 2023 was NOK 18.6 billion.
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2024-02-22 06:31:56
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