Mondo TV (MTV) Q2 2022 earnings summary

Executive summary

• Net profit attributable to the Group reached €4.3 million in H1 2022, up 52% year-over-year, driven by higher revenues and financial income, despite increased operating and production costs.

• Revenues rose 16% to €17.4 million compared to H1 2021, mainly due to new animated series completions and increased sales from subsidiaries.

• EBITDA increased 4% to €12.6 million, while EBIT remained stable at €4.2 million, reflecting higher amortization from investments in the content library.

• Net financial position worsened to a net debt of €12.5 million from €8.5 million at year-end 2021, due to significant investments in new productions.

• Share price at June 30, 2022 was €0.67, with a market capitalization of €31 million.

Financial highlights

• Revenues: €17.4 million (+16% year-over-year); EBITDA: €12.6 million (+4%); EBIT: €4.2 million (flat); Net profit: €4.3 million (+52%).

• Operating costs increased by €1 million to €6.5 million, mainly due to higher production and rights acquisition costs.

• Net financial income rose to €1.7 million (vs. €0.3 million in H1 2021), mainly from favorable exchange rates.

• Net financial debt increased to €12.5 million, reflecting ongoing investments in content.

• Equity increased to €85.3 million from €80.5 million at year-end 2021.

Outlook and guidance

• 2022 consolidated revenue guidance: €36.7 million (vs. €31.2 million in 2021); EBITDA: €30.2 million (vs. €24.4 million); Net profit: €6.8 million (vs. €5.5 million).

• Growth expected from new animated series, expansion in live-action content, and international licensing.

• Strategic focus remains on high-potential co-productions and internationalization.