(Alliance News) - The board of Mondo TV Spa on Monday evening approved the Mondo TV Group's draft annual financial statements and consolidated annual financial report as of December 31, 2023, closing with a net profit of EUR800,000 compared to a loss of EUR69.3 million in the previous year.

Revenues in the period amounted to about EUR8.3 million with a decrease compared to fiscal year 2022 of about EUR26.7 million.

EBITDA decreased from EUR25.4 million in FY 2022 to EUR4.7 million in FY 2023 with a decrease of EUR20.7 million in absolute value and 82 percent in percentage was driven by lower revenues and lower operating expenses as a result of the above.

Operating income-after depreciation, amortization, write-downs and provisions-is negative EUR800,000 compared to negative Ebit of EUR70.1 million in 2022.

Net financial position closes with a net debt of EUR7.6 million, an improvement from a net debt of EUR12.2 million as of Dec. 31, 2022, "as a result of the sale of Mondo Tv Studios and the implementation of the new business plan," the company wrote in the released note.

Mondo TV closed the god session Monday in the green by 0.2 percent to EUR0.21 per share.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.