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01 April 2019

 

The Board of Directors approves some consolidated preliminary data for the first quarter of 2019: value of production at around euros 5 million; net profit of around euros 1 million

The result is mainly due to the sale of Yoohoo to Netflix, the progress of the productions of Yoohoo, Robot Trains and other productions in progress by the group

 

Results more than in line with the business plan approved on December 10th 2018, and confirmed on Friday March 29th, which, as we know, provides for the closure of next years with increasing profits as follows:
- 4.1 million euros in 2019;
- 5.4 million euros in 2020
- 7 million euros in 2021
- 8.4 million euros in 2022
- 10.5 million euros in 2023

 

01 April 2019Mondo TV informs that on the evening of Friday, March 29, 2019, the Board of Directors approved some consolidated preliminary data for the first quarter of 2019.

 

In particular, the Board analyzed the trend in production value, which in the first quarter amounted to around 5 million euros, mainly thanks to the progress of Yoohoo production and the sale of the same series to Netflix, the completion of Robot Trains, the progress of the production of the parent company and of Rocky Kwaternaire by Mondo TV France.

 

On the other hand, the net result stood at around one million euros at the consolidated level in the first quarter.

 

The aforementioned results are more than in line with the business plan 2019-2023 approved by the Board on December 10, 2018, and confirmed by the Board during the meeting of March 29, 2019.

 

In particular, it is recalled that the business plan already envisaged a return to profit in 2019 and growth in margins in the following years as per the following table:

 

Euro/00020192020202120222023
Ebit6.7688.97511.66113.95416.939
Risultato Netto4.1205.4257.0448.38410.489

 

and that among the economic-financial objectives, priority shall be given to the improvement in cash generation, which is expected to be balanced at the end of 2019, and then to become positive from 2020(see Press Release on 10 December 2018).

 

In particular, in 2019 the revenue generation is expected from the sales of the series based on the property "Yoohoo and Friends", whose marketing and delivery to Netflix have started; from "Robot Trains", the commercialization of which begins in the second quarter 2019; from the production of the parent company and of "Rocky Kwaternaire" by Mondo TV France.

 

It is finally recalled that, as regards the breakdown of revenues in the various quarters, as an effect of the productions, a second semester is expected to be stronger than the first, with around 35% of revenues positioned in the last quarter of the year.

 

Click here to download the file: 01 April 2019 (it & en)

 


 

29 March 2019

 

MONDO TV GROUP: The Board of Directors approved the draft of financial statements and the consolidated financial statements for 2018

The business plan approved on last 10 December 2018, has been confirmed: net profit already in 2019 thanks to the deliveries of Yoohoo to Netflix, the deliveries of Robot Trains and the progress of the productions by the Group

 

Consolidated results in 2018:

 

? Value of Production at approximately EUR 22.2 million in 2018, compared to EUR 34 million in 2017 with a variation of around 40%
? EBITDA is around EUR 11.1 million in 2018, decreasing of 55% compared to EUR 25.1 million in 2017
? EBIT is negative for around EUR 54.5 million in 2018 compared to EUR 17.6 million in 2017
? Net result of the Group is a loss for approximately EUR 39.5 million in 2018 compared to a profit of the Group of EUR 12.8 million in 2017
? Net Financial Position as at 31 December 2018 is positive at EUR 8.1 million compared to e net debt for around EUR 1.8 million as of 31 December 2017
? Net equity of the Group is at EUR 58.2 million with a decrease of EUR 18.9 million compared to EUR 77.1 million as of 31 December 2017

 

Holding company’s individual results in 2018:

 

? Value of Production is EUR 17.3 million in 2018, decreasing of around 42% compared to EUR 30.1 million in 2017
? EBITDA is around EUR 11 million in 2018, compared to EUR 23.7 million in 2017 decreasing for 54%
? EBIT is negative at around EUR 48.2 million in 2018 compared to EUR 17.6 million in 2017
? Net result is a loss at approximately EUR 38.7 million in 2018, compared to a net profit of EUR 12.9 million in 2017
? Net Financial Position is positive at approximately EUR 16.5 million as at 31 December 2018, of which Euros 5.2 million improving respect to availabilities of approximately EUR 4.9 million as of 31 December 2017
? Net equity is around EUR 59.5 million at 31 December 2018 with a decrease of around Euros 17.8, compared to 77.3 million as of 31 December 2017
With reference to the loss in the period for EUR 38.7 million, the Board of Directors proposed to cover the loss through available reserves

 

29 March 2019 The Board of Directors of Mondo TV S.p.A. – holding company of a Group working in the production and distribution of cartoons for TV and the cinema –approved the draft financial statements and the consolidated financial statements as at 31 December 2018.

 

Consolidated results Respect to 2017, the revenues decrease, equal to Euros 13.1 million in absolute value and to 40% in percentage, was determined mainly by the termination of contracts for some productions by four Asian clients, which occurred in the second part of the year.
In the third quarter a significant slowing down of sales in Asia, connected with some productions by Mondo, was reported.

 

In particular, the main client on the series Rowly Powlys and Dee & Duh, some weeks after the death of Mr. Orlando Corradi on 7 November 2018, funder of the company and creator and artistic director of those two programs, decided to leave the two projects.

 

Furthermore, the deterioration of the international economic situation, and the slowdown of the Chinese economy also deriving from the trade war between China and the USA, seem to have led to a significant restriction of bank credit in China with a decrease in investments also in media products in general and in Western products specifically.

 

Following these unexpected difficulties, the slowdown in revenues already highlighted in the third quarter, as reported in the interim management statement at 30 September 2018, was not solved.

 

In the second half of November, three Asian customers formally announced their intention to significantly review their investments in the Naraka, Final Fight, Play Time Buddies, Beast Keepers, Partidei and Adventures in Duckport projects, also due to the difficulties that emerged in their reference markets in relation to the exploitation of those products. In particular, the difficulties of the aforementioned Asian customers, who had acquired rights on the aforementioned series, would be justified by the significantly lower interest on the part of Asian televisions for these products compared to the previous expectations: the consequent prospects of repayment of the investment would therefore have resulted very limited on Asian markets, nor have they been tempered by inputs from exploitation in other parts of the world.
As a result of the communications from these Asian customers, the company took the decision to suspend further investments in these projects, as they are now lacking the adequate economic coverage in terms of expected future revenues, and conducted negotiations for the management of the various positions with their Asian partners.

 

Capitalized costs relating to the produced series are mainly related to the Holding Company’s productions, and in a lower level to those by Mondo TV France, and were equal to Euros 2.7 million in 2018 (Euros 1.4 million in 2017): the increase is due to the higher progress in productions by the same Mondo TV France.

 

Operating costs increased for Euros 2 million, mainly by virtue of the higher volume of productions by Mondo TV France.

 

EBITDA passed from Euros 25.1 million in 2017 to Euros 11.1 million in 2018 with a decrease equal to Euros 14 million; the decrease of 55% was mainly caused by the unexpected and significant decrease of revenues caused by the aforementioned termination of agreements.

 

The termination of Asian customer contracts, together with other minor difficult situations, led to an adjustment of the value of assets for a total amount of Euros 51 million for the holding company and around Euro 57 million at consolidated level. Such adjustment related to:
the library for around Euros 28 million at the level of the parent company, and Euros 33 million at the consolidated level, with the substantial adjustment of the value of the investments already made in the relevant and preceding periods;
the receivables mainly attributable to the pre-sales made on these projects, for a total amount of approximately Euros 23 million at the level of the parent company, and Euros 24 million at the consolidated level.

 

In light of the above, the operating result after amortization, depreciation and provisions (Euros 65.7 million in 2018, compared to Euros 7.5 million in 2017) was negative by Euros 54.5 million, compared to Euros 17.6 million of operating profit for 2017, with a decrease of Euros 72.1 million in absolute terms.

 

In the financial year 2018 the financial management was positive for Euros 0.5 million, compared to a negative result of Euros 2.2 million in 2017, mainly determined by profits on currency exchange subsequent to the strengthening of US dollar against Euro in 2018.

 

After tax on income for Euros 11.5 million (negative for Euros 3.1 million in 2017), a net loss was reported, it being equal to Euros 39.5 million, compared to a profit of Euros 12.8 million in preceding year, with a variation of Euros 52.3 million in absolute terms.

 

The consolidated net financial position, showed availabilities for Euros 8.1 million, mainly thanks to the financial extraordinary transactions with Atlas compared to a net debt of Euros 1.8 million as at 31 December 2017.

 

Net equity of the group went from Euros 77.1 million at 31 December 2017 to Euros 58.2 million at 31 December 2018 by virtue mainly of the loss in the period for Euros 39.5 million and the above extraordinary financial transactions (Euros 20.3 million).

 

Results of the parent company

 

Respect to 2017, the revenues decrease was equal to Euros 12.7 million in absolute value and to 44% in percentage, and was mainly determined by the problems with the Asian clients as better explained in the above paragraph dedicated to the consolidated results, which is hereby recalled.

 

Capitalized costs relating to the produced series are equal to Euros 1.1 million (Euros 1.1 million in 2017).

 

Operating costs were stable at Euros 6.4 million (Euros 6.3 million in 2017).

 

EBITDA went from Euros 23.7 million in 2017 to Euros 11 million in 2018 with an decrease of Euros 12.7 million in absolute values and of 54% in percentage; the decrease was mainly due to the lower volume of revenues in the year compared to 2017.

 

In light of the above, in light of the impairment test on the library which determined an adjustment of Euros 28.3 million, and the impairment of receivables of Euros 23.1 million, the operating result after amortization, depreciation and provisions for Euros 59.2 million (Euros 6.1 million in 2017) was negative for Euros 48.2 million, compared to an operating profit of Euros 17.6 million in 2017, with a decrease of Euros 65.8 million in absolute terms.

 

In the financial year 2018, the financial management was negative for 1.8 million euros, against a negative result of 1.9 million euros in 2017, mainly determined by the write-down of the investment in Mondo TV Iberoamerica made for Euros 2.2 million.

 

After tax on income for Euros 11.4 million (Euros 2.9 million of fiscal charges in 2017), a net loss was reported, it being equal to Euros 38.7 million, compared to a net profit of Euros 12.9 million in preceding year.

 

The net financial position, showed availabilities for Euros 16.5 million (of which Euros 5.2 were represented by mid-long term financial credits toward the controlled companies), also thanks to the financial extraordinary transactions with Atlas, compared to net availabilities for Euros 4.9 million as of 31 December 2017.

 

Net equity went from Euros 77.3 million at 31 December 2017 to Euros 59.5 million at 31 December 2018 mainly by virtue of the loss in the period for around Euros 38.7 million and the above referenced financial extraordinary transactions (Euros 20.3 million).

 

Destination of the result

 

e Board of Directors deliberated to propose the coverage of the loss of the period through the available reserves. Business Outlook

 

The financial statements have been prepared on an ongoing-concern basis, as the Board of Directors believes that the company and the group as a whole have adequate capital solidity and have adequate resources to continue operating in the foreseeable future, as shown among others, by the following circumstances:
? the Group companies, and in particular the Parent Company Mondo TV S.p.A., they are highly capitalized (equity is well above the legal limits) both due to the positive results achieved in previous years and carried forward, and to the extraordinary finance operations carried out in the current year and in previous years;
? the net financial position at December 31, 2018, and at the reporting date, is positive for significant values;
? short-term financial debt, which is not significant overall, is covered by asset values. However, the Board deemed it appropriate to verify its 2019 business plan approved by the Board on December 10, 2018 and confirmed the economic-financial objectives already indicated in the Press Release dated December 10, 2018 to which reference is made hereby, with a return to profit, as mentioned above, already in 2019, mainly thanks to Yoohoo's deliveries to Netflix, the deliveries of Robot Trains and the progress of the group's productions.

 

Statement of the Financial Director

 

The financial director, responsible for the drafting of the company’s accounting statements (Mr. Carlo Marchetti) states, pursuant to sect. 154-bis, 2nd paragraph, of Lgs. Decree Nr. 58/1998, that the accounting information included in this communication reflects the results of the accounting documents, books and records.

 

* * * * *

 

The Board also approved the corporate governance and remuneration reports. Independency requirements of the independent directors have been verified.

 

* * * * *

 

The income statement, the balance sheet, the cash flow statement and the net financial position with reference to the consolidated and parent company situation are attached to this press release. The relevant data are currently being audited.

 

* * * * *

 

The complete documentation for the shareholders’ meeting of 30 April 2019 will be made available within the terms and upon the modalities set forth by the law and regulations.

 

Click here to download the file: 29 March 2019 (it & en)

 


 

21 February 2019

 

The first 26 episodes of Yoohoo were delivered to co-producers with the multilingual package

Launch of the series from mid-March 2019 in more than 100 countries around the world

 

Excellent industrial result achieved by the Mondo TV group which plans to complete the delivery of the entire series by the third quarter of 2019

 

21 February 2019Following the press release issued on 16 October 2017, Mondo TV informs that the subsidiary Mondo TV Suisse has completed the realization and therefore the delivery to the co-producers also of the multilingual package of the first 26 episodes of the series (over a total of 52) based on the property "Yoohoo". In fact, the series has been dubbed into 20 languages, besides English, for the simultaneous launch in more than 100 countries around the world in accordance with the agreement with the co-producers referred to in the aforementioned press release.

 

The launch is expected by the co-producers starting from mid-March 2019 (excluding only the launch in Italy, France, Spain, Portugal, Poland and Russia where the series will be launched in a different time).

 

With this delivery, the Mondo TV Group achieves a great industrial result: the series is in fact the top quality product of Mondo TV. To date, the delivery forecast of all episodes is confirmed by the third quarter of 2019.

 

Click here to download the file: 21 February 2019 (it & en)

 


 

30 January 2019

 

Mondo TV: Company’s events calendar 2019

 

30 January 2019Mondo TV, listed on Star segment of Borsa Italiana, hereby communicates the following calendar of company’s events for the year 2019:

 

29 March 2019 BoD for approval of the draft of balance sheet and consolidated balance sheet as of 31 December 2018
30 April 2019 Shareholders meeting for approval of the balance sheet and consolidated balance sheet as of 31 December 2018
14 May 2019 BoD for approval of the financial interim report as of 31 March 2019
13 September 2019 BoD for approval of the consolidated financial interim report as of al 30 June 2019
14 November 2019 BoD for approval of the financial interim report as of 30 September 2019

 

Possible changes to the above Calendar will be timely communicated as applicable.

 

Click here to download the file: 30 January 2019 (it & en)

 


 

29 January 2019

 

MONDO TV launches Heidi on Disney in Spain

 

29 January 2019 Mondo TV, a company belonging to the homonymous group active in Italy and abroad in the production and distribution of TV programs, announced that Disney has confirmed the launch yesterday of the first and second season of the live series "Heidi, Bienvenida at home ", produced by the controlled company Mondo TV Iberoamerica. According to Disney, the episodes of the series will be aired two times per day from Monday to Thursday in the afternoon and in the evening.

 

The television broadcast on Disney will be an element of diffusion and awareness of the brand linked to the series in the Spanish territory.

Click here to download the file: 29 January 2019 (it & en)

 


 

21 January 2019

 

The first license agreement for publishing rights in Germany on Sissi has been executed with Blue Ocean Entertainment AG

 

21 January 2019 Mondo TV announced that Blue Ocean Entertainment AG ("Blue Ocean"), a company active in the publishing sector in Germany, has purchased a license for the publication rights of a magazine dedicated to Sissi, the Young Empress, protagonist of the series produced by Mondo TV with Sole di Carta, in the territory of Germany, as well as Austria, Switzerland and other minor German speaking areas.

 

The license lasts two years starting from the first launch that will be linked to the program broadcast in any case no later than September 2019.

 

The agreement provides for the payment of a minimum guarantee that is not particularly significant, but given the importance of the licensee and its distribution capacity, it is expected that the distribution will generate royalties, currently unquantifiable, for Mondo TV. In addition, the contract is important because it can be an excellent driving force for the conclusion of additional licenses in Germany, as the publishing category is one of the most important for the development of complete licensing plans.

Click here to download the file: 21 January 2019 (it & en)

 


 

11 January 2019

 

ORF, the Austrian national public service broadcaster, acquired also the license for the transmission in Austria of the second season of Sissi, the young empress

 

11 January 2019 Mondo TV informed that ?sterreichischer Rundfunk (“ORF”), the Austrian national public service broadcaster, after the acquisition in 2017 of the license on the first season of Sissi, has now acquired the license for the transmission in Austria and South-Tyrol also of the second season of Sissi, the young Empress. The license shall have a 4 years duration and provides for the exclusive right to three transmissions in German and/or English in the assigned territory.

 

Sissi will therefore be broadcasted on the channels operated by ORF, they being Free- TV, satellite and web channels.

 

The agreement sets forth an interesting license fee, which shall be fully paid in the first months 2019, and results particularly important for the confirmation of the approval of Sissi in a geographical area and a market, which Mondo TV group had difficulties to penetrate in its history. 下彩网加奖全网最高

 


 

07 January 2019

 

MONDO TV S.p.A.: a license agreement executed for satellite rights in Middle East and North Africa on Al Wasat TV of some series distributed by Mondo TV

 

First agreement entered into with Al Barneek Co., new client which owns the above TV channe

 

07 January 2019 Mondo TV announces that it has signed a license agreement with the company Al Bareek Company, headquartered in Beirut and owner of the generalist TV channel Al Wasat TV Channel Lybia, for the broadcast in the Middle East and North Africa of seven series distributed by Mondo TV, among which the first season of Robot Trains, the first two 2D seasons of Yoohoo & Friends, Bat Pat, Farhat and three more third parties’ series.

 

The agreement provides for the license of satellite television broadcasting rights, without exclusive rights, in Arabic for a period of two years starting from January 15, 2019.

 

The license fee, which for reasons of commercial confidentiality cannot be disclosed, is interesting though not particularly significant in itself, but the contract is relevant because it is a first contract for the channel Al Wasat TV Channel Lybia and opens possibilities in the future of further contracts with the new customer.

Click here to download the file: 07 January 2019 (it & en)

 


 

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