Edison Investment Research Limited 
Edison Investment Research Limited: Mondo TV (MTVI): MeteoHeroes are go for gaming 
10-Jun-2021 / 08:00 GMT/BST 
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London, UK, 10 June 2021 
 
Mondo TV (MTVI): MeteoHeroes are go for gaming 
Mondo TV Group has had a strong start to the year, with continuing deals on its key properties, including MeteoHeroes, 
Grisù and Agent 203. New contracts include a first to develop, produce and distribute a video game based on MeteoHeroes 
for Sony from the group's upgraded studio subsidiary in the Canary Islands. The funding round from Atlas, completed in 
Q121, has put the group on a sound financial footing. With its extensive library and a strong front list, Mondo TV is 
in a good position to benefit from the continued appetite for content from broadcasters and streamers. 
 
Parity to global peers on averaged earnings multiples across FY20-22e would imply a value of EUR3.84/share (April 2021: 
EUR3.81). A DCF (WACC of 11.5%, terminal growth 2%) suggests a price of EUR2.10. The midpoint of these is EUR2.97 (April 
2021: EUR2.91). We would expect Mondo's valuation discount to close further as the financial benefit of recent deals 
flows through to revenues. 
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1206278 10-Jun-2021


 
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(END) Dow Jones Newswires

June 10, 2021 03:00 ET (07:00 GMT)