Mondo TV (MTV) Q4 2023 earnings summary

Executive summary

• 2023 marked a strategic shift with a focus on Western markets, reduced investments, and cost-cutting, following the exit from the Asian market and the sale of Mondo TV Studios.

• Consolidated net profit reached €0.8M, reversing a €69.3M loss in 2022, while the parent company posted a €2.7M net loss.

• Group revenue fell 76% year-over-year to €8.3M, mainly due to the loss of the Asian market and the sale of Mondo TV Studios.

• EBITDA dropped to €4.7M from €25.4M, with an adjusted EBITDA of €3.9M after excluding non-recurring items.

• Net financial debt improved to €7.6M from €12.2M, supported by asset sales and convertible bond conversions.

Financial highlights

• Revenue: €8.3M in 2023, down from €35.0M in 2022 (-76%).

• EBITDA: €4.7M (2022: €25.4M); Adjusted EBITDA: €3.9M.

• EBIT: -€0.8M (2022: -€70.1M).

• Net profit: €0.8M (2022: -€69.3M).

• Net financial debt: €7.6M (2022: €12.2M).

• Equity: €19.0M (2022: €14.1M).

• Cash: €1.7M at year-end (2022: €3.1M).

Outlook and guidance

• 2024 strategy continues focus on Western markets, cost reduction, and leveraging the existing library.

• The new industrial plan expects further cost optimization and capitalizes on completed productions (Grisù, Monster Loving Maniacs, Agent 203).

• The group expects to maintain sufficient financial resources, supported by new convertible bond agreements.