The company in crisis is trying to turn its course.
Viaplay has run into problems due to, among other things, expensive sports rights. PASI LEISMA
Viaplay, a live streaming service listed on the Stockholm Stock Exchange, reported that it made a loss of 2.881 billion kroner in the last quarter of 2023. Write-downs explain a large part of the crushing losses.
Thus, the losses for the entire year 2023 rose to 9.747 billion Swedish kronor, which corresponds to more than 870 million euros.
Despite the losses, the B-series share of the company that creates new leather fell by 27.5 percent on Thursday at the price of SEK 1.02.
The company’s stock had hit bottom readings from the peaks of 2021, when the price of a series B share was around 160 kroner.
The company’s CEO Jørgen Madsen Lindemann according to the report, the business recovery progressed in the last quarter of the year.
– We accepted the sale of the UK operations, we will withdraw from the Baltic countries and North America and we will leave Poland by the middle of next year, Lindemann said in the press release.
In the future, Viaplay will focus on the Nordic countries and the Netherlands. The latter Lindemann called “a profitable business soon”.
Viaplay’s turnover in the last quarter of 2023 was 4.903 billion kroner. The organic growth of turnover compared to a year ago was 3.4 percent.
However, according to Lindemann, Viaplay’s Nordic sales decreased slightly.
Viaplay has raised its prices almost everywhere, including in Finland. Earlier, the company said that it has around 6.5 million subscribers worldwide. The company has fallen short of its goal of 100,000–200,000 subscribers, a significant part of which is due to the decrease in the number of Finnish subscribers.