Q3 2007 - Results for Period Ending 30 September 2007

Q3 2007 - Results for Period Ending 30 September 2007

FINANCIAL RESULTS FOR THE THIRD QUARTER AND NINE MONTHS ENDED 30 SEPTEMBER 2007

Stockholm, 23 October 2007 - Modern Times Group MTG AB (publ.) (“MTG” or “the
Group”) (The OMX Nordic Exchange Large Cap market: MTGA, MTGB) today announced
its financial results for the third quarter and nine months ended 30 September
2007. 


THIRD QUARTER HIGHLIGHTS

•  Group net sales up 15% year on year to SEK 2,612 million

•  Group operating income up 13% year on year to SEK 279 million, excluding SEK
137 million of associated company income

•  Viasat Broadcasting net sales up 16% year on year to SEK 2,022 million and
operating income of SEK 400 million 

•  Net income of SEK 292 million (SEK 529 million including SEK 241 million
non-cash gain arising from CTC Media IPO)

•  Basic earnings per share of SEK 4.39 (7.82)


YEAR TO DATE HIGHLIGHTS

•  Group net sales up 12% year on year to SEK 8,083 million

•  Group operating income up 9% year on year to SEK 1,006 million, excluding SEK
410 million of associated company income

•  Viasat Broadcasting net sales up 12% year on year to SEK 6,272 million and
operating income of SEK 1,417 million 

•  Net income of SEK 970 million (SEK 1,183 million including SEK 241 million
non-cash gain arising from CTC Media IPO)

•  Basic earnings per share of SEK 13.88 (16.98)


Hans-Holger Albrecht, President and Chief Executive Officer, commented: “The
Group's sales growth in the quarter and for the year to date demonstrated that
we are comfortably on track with our five year strategic goals. Margins
reflected the investments that we are making in both our existing and new
businesses, a number of which impacted the reporting period for the first time.
We gained audience and market share in the majority of our markets, and also
added more net subscribers to the Viasat platform than in recent quarters. The
launch of new channels; the repackaging of our Nordic pay-TV offering;
increasing penetration in Russia; the establishment of the joint venture in
Ukraine; and the new agreement signed with Canal Digital in Norway, are all
strategic developments intended to enable us to continue to grow sales at double
digit percentage rates and further improve profitability levels moving forward.”

“We commenced the share buy-back programme at the end of the quarter, which
confirms our ongoing commitment to optimizing the Group's capital structure,
whilst maintaining the flexibility to continue to expand our operations. Cash
flow generation is healthy and our return on capital employed has remained at
over 30%. The Group is therefore well-positioned to take advantage of investment
opportunities and structural market changes as they arise.” 


For further information, please visit www.mtg.se, email
investor.relations@mtg.se, or contact:
Hans-Holger Albrecht, President & CEO	 tel: +46 (0) 8 562 000 50
Mathias Hermansson, Chief Financial Officer	 tel: +46 (0) 8 562 000 50
Matthew Hooper, Investor & Analyst Enquiries	 tel: +44 (0) 7768 440 414
Bert Willborg, Press Enquiries		 tel: +44 (0) 791 2280 850

The information in this Interim Report is that which  Modern Times Group MTG AB 
is required to disclose under the Securities Exchange and Clearing Operations
Act and/or the Financial Instruments Trading Act. It was released for
publication at 13.00 CET on October 23, 2007.



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-to-air and satellite premium pay-TV operator in
Scandinavia and the Baltics, and also operates channels in the Czech Republic,
Russia, Hungary, Slovenia and the Balkans. Viasat channels are broadcast in a
total of 24 countries and reach 100 million people. MTG is also the biggest
shareholder in Russia's largest independent television network (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 the OMX Nordic
Exchange Large Cap market (‘MTGA' and ‘MTGB').