Mondo TV - Good pipeline into FY21 and beyond
Mondo TV continues to report production, distribution and licensing deals that will drive its future revenue and profits, supported by the €10.5m funding agreed with Atlas Special Opportunities. Q3 figures show broadly flat revenues for the year-to-date, with nine-month EBITDA margins up from 71.4% to 74.7%, reflecting reduced operating costs. We have pulled our full year revenue estimate back by 14% to reflect lower growth than we originally expected, translating to a reduction of just 4% at EBITDA level due to the margin uplift. The shares remain valued at a discount to peers.Mondo TV is an Italian-based television company engaged in the production and distribution of animated TV series and full-length feature films for TV and cinema. Co. is involved in the entire production process which includes pre-production, production and post-production. The full production cycle calls for a period of time that generally falls between eight and 16 months. Co.'s distribution activities revolve around the distribution of cartoon series and animated features. TV distribution rights for Co.'s cartoon series are sold to public and private networks including Free TV, Pay TV, Pay for View, Cable TV, and satellite TV.
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