Mondo TV (MTV) Q3 2022 earnings summary

Executive summary

• All key financial indicators increased year-over-year for the nine months ended September 30, 2022, with strong growth in revenue, EBITDA, EBIT, and net profit at both consolidated and parent company levels.

• Revenue growth was driven by progress in parent company productions, completion of "Disco Dragon" by Mondo TV France, and the sale of a live fiction to RAI by Mondo TV Studios.

Financial highlights

• Consolidated value of production reached €30.2M (+18% vs. €25.6M in 9M 2021); EBITDA €20.8M (+15%); EBIT €6.8M (+13%); net profit €6.8M (+50%).

• Parent company value of production was €23M (+33%); EBITDA €20.1M (+35%); EBIT €6.3M (+7%); net profit €6.4M (+33%).

• Operating costs increased to €9.4M (from €7.5M), mainly due to higher production and rights acquisition costs.

• Net financial position worsened to net debt of €12.8M (from €8.5M at 2021 year-end) due to significant investments in new animated series.

• Net equity rose to €88.7M (from €80.5M at 2021 year-end), supported by profit and Atlas bond conversions.

Outlook and guidance

• A decrease in net financial debt is expected in Q4 2022.

• New licensing agreements, such as with TVP ABC in Poland for "Agent 203," are expected to support future growth and licensing opportunities.