Consolidated revenue of Euro 60 million, Euro 83 million in the first half of 2022
EBIT at Euro 2.7 million, Euro 11 million in the first half of 2022, EBIT margin of 4.5% of revenue
Profit for the period of Euro 608 thousand
- Consolidated EBIT at Euro 2.7 million, or 4.5% of total revenue, (Euro 11.2 million in H1 2022, with a margin of 13.5%)
- Debt-adjusted NFP at Euro 41.3 million (Euro 23.1 million as of 31 December 2022)
- Backlog of EUR 194.7 million over the three financial years 2023-2025 (EUR 172.9 million as of 31 December 2022)
- For the second half of 2023, revenues are expected to be in line with last year, and margins stable compared to the first half of 2023
Rome, 27 September 2023 – The Board of Directors of ILBE (Iervolino and Lady Bacardi Entertainment) – a company active in the production of film and television content (Euronext Growth Milan – IT0005380602 – IE and Euronext Growth Paris – IT0005380602 – ALIE) – met today and approved the Consolidated Half-Yearly Financial Report as at 30 June 2023 prepared in accordance with IAS/IFRS. The period ended with total revenue of Euro 60.0 million, down 28% from Euro 83.3 million in 1H 2022. Consolidated EBIT reached Euro 2.7 million, or 4.5% of total revenue (Euro 11.2 million in 1H 2022, with a margin of 13.5%). Group EBIT shows a decrease compared to the same period in 2022 mainly due to lower revenues from distribution rights of the so-called “Family Movies” and Puffins & Arctic Friends. The first half of 2023 closed with a Net Profit of Euro 608,000 compared to Euro 3.4 million in the first half of 2022.
The net debt financial position (net of the net effect of Euro 2.8 million related to the application of IFRS 16) increased to Euro 41.3 million compared to 31 December 2022 (Euro 23.1 million and Euro 25.8 million gross of IFRS 16 effects), due to higher investments made and paid in the period, which were added to the negative financial effect of lower revenues from distribution rights of the so-called ‘Family Movies’ and Puffins & Arctic Friends.