(Alliance News) - Leone Film Group Spa has reviewed its preliminary consolidated results for 2022 reporting revenues of EUR55.8 million down 43 percent from EUR98.6 million in 2021.

This decrease, the company explained, was mainly due to a reduction in the year in revenues from international executive productions and the fact that many of the year's major series productions will be delivered in 2023.

Ebitda also decreased, for the same last reason, to EUR38.9 million from EUR49.6 million in 2021, thus reporting a decrease of 22 percent.

Net financial debt is EUR80.7 million up from EUR60.4 million as of December 31, 2021 and EUR71 million as of June 30, 2022.

Andrea and Raffaella Leone, CEOs of Leone Film Group, commented, "Despite a 2022 that continued to suffer from the pandemic and the war in Ukraine, we report 2022 results with satisfaction. All business areas of the group created margins. Distribution, in one of the most difficult periods for theatrical releases, still achieved extremely positive results, thanks to the quality of the selected product and the group's commercial choices."

There are 6 productions made during the year that will be delivered during 2023, with the exception of Mia and Felicità, delivered in 2022, including the Sky Original TV series A casa tutti bene 2 directed by Gabriele Muccino, the series for Disney Leoni di Sicilia directed by Paolo Genovese and the series

Uonderbois directed by Andrea De Sica and Giorgio Romano.

In terms of films, however, the directors add, the company worked on Felicità directed by Micaela Ramazzotti, Mia directed by Ivano Di Matteo, and Il viaggio Leggendario directed by Alessio Liguori. An international executive production has also been completed."

Leone Film Group closed Wednesday down 1.8 percent to EUR2.18 per share.

By Chiara Bruschi, Alliance News reporter

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