Mondo TV - The deals keep coming
Mondo TV produced good FY20 results, with production value up by 14% to €30.4m and an uptick in EBITDA margin (on production value) from 61.4% to 61.8%. The strengthening of the balance sheet through Atlas’s capital injection (the €10.5m bond conversion is now complete) has given the group the resource to invest in its Toon2Tango JV and in the development of its own 3D CGI animation studio in Gran Canaria. The dispute with the tax authorities is now resolved. With robust global content demand and continuing deal flow, the valuation discount looks overdone.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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