Mondo TV (MTV) Q1 2023 earnings summary

Executive summary

• Q1 2023 results align with the new industrial plan, showing a return to profit for the parent company and improved financial stability.

• Group production value fell 67% year-over-year to €3.1M, reflecting planned investment reduction.

• Parent company posted a net profit of €0.15M, reversing the prior year's loss.

Financial highlights

• Consolidated EBITDA was €1.1M, down from €6.9M in Q1 2022 due to lower revenues.

• Group EBIT was negative at €-0.1M, compared to €2.6M in Q1 2022.

• Group net loss was €0.2M, versus a €2.1M profit in Q1 2022 and a €69.3M loss for FY 2022.

• Net financial position improved to €10.0M net debt from €12.2M at year-end 2022, mainly due to Atlas bond conversion.

• Group equity rose to €17.3M from €14.1M at year-end, driven by bond conversion and period results.

Outlook and guidance

• Full-year 2023 is expected to close with a profit of around €1M.

• Parent company production value for 2023 is projected at €5.9M.