Mondo TV profile pic

Mondo TV


Market Cap€58.8m

Last Close €1.3

Mondo TV is a global media group focused on the production, acquisition and exploitation of animated children’s television series. It owns the rights to >1,600 TV episodes and films, which it distributes across 75 markets.

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Investment summary

Mondo TV posted a strong Q3 performance, with production value for 9M21 up 32% on the prior year and EBIT ahead by 20%. Encouragingly, the progress is across several key properties. A further 13 episodes of Disco Dragon were delivered by Mondo France in Q3, while Grisù, Agent 203 and Meteoheroes all continue to perform strongly. Properties in earlier stages of development are also building traction. The newer deals give a broader international reach, reducing the weighting of Asia in the mix. The group is on track to meet its business plan projections and our forecasts are unchanged. The valuation remains at a significant discount to global peers.

Y/E Dec
Revenue (€m)
PBT (€m)
EPS (fd) (c)
P/E (x)
P/CF (x)
2019A 23.1 16.4 6.2 11.3 11.5 8.9
2020A 24.7 18.8 6.4 13.2 9.9 4.1
2021E 29.2 25.8 9.1 14.6 8.9 2.2
2022E 31.3 27.4 10.2 18.3 7.1 2.4
Industry outlook

Structural changes to the market mean strong demand in the short to medium term. The rapid take-up of video on demand (VoD) and streaming VoD (SVoD) globally has fuelled a well-documented thirst for content from the major players, with new entrants continuing. Consolidation among the larger US and global players highlights the need for quality content for regional broadcasters and streamers. High-quality animated series can drive new subscriptions and stimulate viewer loyalty. Children’s content is a key element of the various providers’ offerings.

Last updated on 18/01/2022
Content on Mondo TV
Mondo TV – Disco Dragon has all the moves
TMT | Update | 16 November 2021
Mondo TV research image
Mondo TV – Production value well ahead
TMT | Update | 17 September 2021
Mondo TV research image
Mondo TV – MeteoHeroes are go for gaming
TMT | Outlook | 9 June 2021
Mondo TV research image
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Share price graph
Balance sheet
Forecast net cash (€m) 2.1
Forecast gearing ratio (%) N/A
Price performance
Actual 0.5 (5.0) (0.2)
Relative* (2.3) (8.4) (18.3)
52-week high/low €1.7/€1.2
*% relative to local index
Key management
Matteo Corradi CEO
Carlo Marchetti FD