MONDO TV GROUP: The Shareholders Meeting approved the financial statements and the consolidated financial statements for 2019

Return to Net Profit for Euros 3.8 million, reporting a better result respect to preliminary results reported on 16 December 2019 (Euros 3.6 million)
Consolidated results in 2019: • Value of Production at approximately EUR 26.7 million in 2019, compared to EUR 22.2 million in 2018 with a variation of around 20%
• EBITDA was around EUR 16.4 million in 2019, with a variation of 46% compared to EUR 11.2 million in 2018
• EBIT was positive for around EUR 6.4 million in 2019 compared to negative result of EUR 54.5 million in 2018
• Net result of the Group was a profit for approximately EUR 3.8 million in 2019 compared to a loss of the Group of EUR 39.5 million in 2018
• Net Financial Position as at 31 December 2019 showed an indebtedness at EUR 1.4 million compared to availabilities for around EUR 8.1 million as of 31 December 2018 • Net equity of the Group was at EUR 60.4 million with an increase of EUR 2.2 million compared to EUR 58.2 million as of 31 December 2018 Holding company's individual results in 2019 • Value of Production was EUR 19.1 million in 2019, increasing of around 10% compared to EUR 17.3 million in 2018
• EBITDA was positive around EUR 14.2 million in 2019, compared to EUR 11.0 million in 2019 increasing for 29%
• EBIT was also positive at around EUR 6.9 million in 2019 compared to a negative value for EUR 48.2 million in 2018
• Net result was a profit at approximately EUR 3.7 million in 2019, compared to a loss of EUR 38.7 million in 2018
• Net Financial Position recorded availabilities for approximately EUR 3.1 million as at 31 December 2019, of which Euros 1.7 were mid-long term credits towards controlled companies, compared to availabilities for around EUR 16.5 million as of 31 December 2018
• Net equity was around EUR 63.9 million at 31 December 2019 with an increase of around Euros 4.4, compared to EUR 59.5 million as of 31 December 2018 The Shareholders Meeting also appointed the new board of Statutory Auditors13 May 2020 The Shareholders Meeting of Mondo TV S.p.A. - holding company of a Group working in the production and distribution of cartoons for TV and the cinema -approved the financial statements and the consolidated financial statements as at 31 December 2019. Consolidated results Respect to 2018, the revenues increase, equal to Euros 3.7 million in absolute value and to 19% in percentage, was mainly attributable to the development of new projects by the Parent Company and the increase in turnover of the subsidiary Mondo TV France. The Parent Company reported the production and delivery of the series "Invention story", "Bat Pat 2", "Robot Trains Season 2 and 3" and "MeteoHeroes" while with reference to Mondo TV France, the increase is due to completion of the series "Rocky Kwaternaire" and the production progress of the series "Disco Dragon". Capitalized costs relating to the produced series were mainly related to the Holding Company's productions, and to those by Mondo TV France, and were equal to Euros 3.5 million (Euros 2.7 million in 2018): the increase is due to the higher progress in productions by the same Mondo TV France. Operating costs decreased for Euros 0.7 million, mainly by virtue of the lower volume of productions costs and for the deletion of the rental costs for the offices as an effect of the IFRS 16 starting from January 1, 2019. EBITDA passed from Euros 11.2 million in 2018 to Euros 16.4 million in 2019 with an increase equal to Euros 5.2 million; the increase of 47% was mainly caused by increase of the revenues opposed to a lowering of operational costs. In light of the above, the operating result after amortization, depreciation and provisions (Euros 10.1 million in 2019, compared to Euros 65.7 million in 2018) was positive by Euros 6.3 million, compared to Euros 54.56 million of operating loss for 2018, with an increase of Euros 60.9 million in absolute terms. In the financial year 2019 the financial management was negative for Euros 0.3 million, compared to a negative result of Euros 0.5 million in 2018. After tax on income for Euros 2.1 million (positive for Euros 11.5 million in 2018 for the recording of anticipated tax), a net profit s was reported, it being equal to Euros 3.8 million, compared to a loss of Euros 39.5 million in preceding year, with a positive variation of Euros 43.3 million in absolute terms. The consolidated net financial position, showed indebtedness for Euros 1.4 million, compared to a net availability of Euros 8.1 million as at 31 December 2018, by virtue of the investments made in the new productions and the introduction of the new accounting principle IFRS 16, which extended to operative leasing the same accounting regime applied to financial leasing: the effect of the change of accounting principle was a higher debt for Euros 1.5 million: without such effect, the NFP would be positive for Euros 0.1 million. Net equity of the group went from Euros 58.2 million at 31 December 2018 to Euros 60.4 million at 31 December 2019). Results of the parent company Respect to 2018, the revenues increase was equal to Euros 1.7 million in absolute value and to 10% in percentage, and was mainly determined, as said above, by the progress of the new projects by Mondo TV. Capitalized costs relating to the produced series were equal to Euros 1.1 million (Euros 1.1 million in 2018). Operating costs were Euros 4.8 million (Euros 6.4 million in 2018) by virtue of the lower volume of productions costs and for the deletion of the rental costs for the offices as an effect of the IFRS 16 starting from January 1, 2019. EBITDA went from Euros 11.0 million in 2018 to Euros 14.2 million in 2019 with an increase of Euros 3.2 million in absolute; the increase of 30% in percentage was mainly due to the higher volume of revenues opposed to lower operating costs. In light of the above, the operating result after amortization, depreciation and provisions for Euros 7.4 million (Euros 59.2 million in 2018) was positive for Euros 6.9 million, compared to an operating loss of Euros 48.2 million in 2018, with an increase of Euros 55.1 million in absolute terms. In the financial year 2019, the financial management was negative for Euros 1.2 million, against a negative result of Euros 1.8 million in 2018, mainly determined by the rectification of the stake into Mondo TV Iberoamérica for Euros 1.1 million (Euros 2.2. million in the preceding year). After tax for Euros 1.9 million (Euros 11.4 million of fiscal charges in 2018), a net profit was reported, it being equal to Euros 3.7 million, compared to a loss of Euros 38.7 million in preceding year. The net financial position, showed availabilities for Euros 3.1 million (of which Euros 1.7 were represented by mid-long term financial credits toward the controlled companies), compared to net availabilities for Euros 16.5 million as of 31 December 2018, by virtue of the investments made in the new productions and the introduction of the new accounting principle IFRS 16, which extended to operative leasing the same accounting regime applied to financial leasing: the effect of the change of accounting principle was a higher debt for Euros 1.3 million: without such effect, the NFP would be positive for Euros 4.4 million. Cash availabilities of Mondo TV amounted to Euros 6.4 million as of 31 December 2019. Net equity went from Euros 59.5 million at 31 December 2018 to Euros 63.9 million at 31 December 2019 mainly by virtue of the loss profit in the year for Euros 3.7 million. In terms of management, it should be noted that with regard to Asian customers with whom settlement agreements were reached in 2019, the relationships connected with the existing productions and the cashing of the relevant credits continued regularly. Destination of the result The Board of Directors deliberated to propose the carrying forward of the year result. Remuneration report The company also submitted to the consultancy vote of the shareholders' meeting, which gave its favorable opinion with binding vote on the first section and non-biding vote on the second section, the Report on the Remuneration, which was drafted in line with the current laws and regulation and sets forth the guidelines for the remuneration of executive directors and strategic managers, and their compensations. Appointment of Statutory Auditors The meeting also appointed the new Statutory Auditors which will remain in charge up the shareholders' meeting called to resolve upon the approval of the financial statements for the financial year 2022. The appointed statutory auditors are the following ones: 1. Maurizio Bernardo - President of the Statutory Auditors;
2. Adele Barra - Statutory Auditor in charge;
3. Alberto Montuori - Statutory Auditor in charge; 4. Sara Acquarelli - deputy Statutory Auditor;
5. Davide Salatino- deputy Statutory Auditor. All the above appointed statutory auditors were selected from the unique list of candidates which was presented by the majority shareholder, Ms. Giuliana Bertozzi, who owns at the date hereof and based on the communication sent to CONSOB and received by the Company pursuant to section 120 of Legislative Decree 58/1998 a participation equal to 20.031% of the Company's capital; the resume of each statutory auditor is available at Borsa Italiana and on Mondo TV's website (www.mondotv.it or www.mondo-tv.com), as well as on the authorized storage system managed by Spafid Connection S.p.A. together with their confirmation that they have the needed requirements for the office based on the law and statute, and their acceptance of their appointment. The remuneration for the board of Statutory Auditors has been determined globally in Euros 38,000 per year. The minutes of the shareholders' meeting of 13 May 2020 and the table with the votes expressed during the meeting will be made available to the public in the terms and modalities set forth by law and regulations.