Mondo TV profile pic

Mondo TV

MI: MTVI

Market Cap€58.8m

Last Close €1.35

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’s interims show a big step up in production value to €17.5m at end June (+36% y-o-y), with delivery of 26 episodes of Disco Dragon from Mondo TV France a large element. The regular stream of newsflow of sales and licensing agreements continued through H1, underpinning forecast progress for FY22. The newer deals give a broader international reach, reducing the weighting of Asia in the mix. The €10.5m funding from Atlas Special Opportunities has secured the balance sheet, allowing for the associated investment. The rating remains modest, given the continuing strong demand for original content and the proliferation of platforms.

Y/E Dec
Revenue (€m)
EBITDA (€m)
PBT (€m)
EPS (fd) (c)
P/E (x)
P/CF (x)
2019A 23.1 16.4 6.2 11.3 11.9 9.3
2020A 24.7 18.8 6.4 13.2 10.2 4.2
2021E 29.2 24.6 10.5 15.0 9.0 3.6
2022E 31.3 27.4 12.8 17.3 7.8 2.8
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 22/09/2021
Content on Mondo TV
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
Mondo TV – The deals keep coming
TMT | Update | 7 April 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
%
1m
3m
12m
Actual (5.5) (12.2) (16.3)
Relative* (5.0) (13.8) (38.7)
52-week high/low €1.8/€1.2
*% relative to local index
Key management
Matteo Corradi CEO
Carlo Marchetti FD