Mondo TV - Setting the scene for profit recovery
Mondo TV has returned to profit in the first half of FY19, on its rebased business model with a more concentrated portfolio. Financial performance is tracking to management’s plan and our only forecast changes reflect IFRS 16 adoption. Visibility through H219 and into FY20 on the production pipeline is improving. The streaming of YooHoo & Friends on Netflix raises the group’s profile and the Toon2Tango partnership opens more European opportunities. The shares are valued well below global content 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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