Mondo TV (MTV) Q2 2023 earnings summary

Executive summary

• Reported a net loss of €1.19 million for H1 2023, compared to a net profit of €4.33 million in H1 2022, mainly due to a sharp decline in revenues and the exit of Mondo TV Studios from consolidation.

• Revenues fell 79% year-over-year to €3.72 million, reflecting the strategic exit from the Asian market and a focus on Western markets.

• EBITDA dropped to €2.06 million from €12.56 million year-over-year, with EBIT turning negative at -€0.26 million.

• The sale of Mondo TV Studios was finalized post-period, expected to improve future cash needs and cost efficiency.

Financial highlights

• Revenues: €3.72 million (H1 2023) vs €17.38 million (H1 2022), down 79%.

• EBITDA: €2.06 million (H1 2023) vs €12.56 million (H1 2022).

• EBIT: -€0.26 million (H1 2023) vs €4.23 million (H1 2022).

• Net loss: -€1.19 million (H1 2023) vs net profit of €4.33 million (H1 2022).

• Net financial position improved to -€8.48 million from -€12.23 million at year-end 2022.

• Group equity increased to €16.03 million from €14.09 million at year-end 2022, mainly due to Atlas bond conversion.

Outlook and guidance

• 2023 budget targets a consolidated net profit of about €1 million, with a strategy focused on cost reduction, lower investments, and leveraging the existing library.

• The new business plan (2023–2027) excludes China and Russia, aiming for €22 million in production value and €3 million net profit by 2027.

• The exit of Mondo TV Studios is expected to reduce cash needs and improve cost efficiency.