Motive Television (MTV)

Business description

Mondo TV is a global media group with a focus on the production, acquisition and exploitation of animated children’s television series. It owns the rights to over 1,500 TV episodes and films, which it distributes across 75 markets. 80% of revenues are generated in Asia, 10% in Italy, 7% in Europe and 3% in America.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2015A 16.8 8.9 5.4 11.69 42.6 N/A
2016A 27.4 18.1 12.7 32.37 15.4 N/A
2017E 37.6 28.0 18.7 45.68 10.9 N/A
2018E 47.0 36.2 21.8 52.91 9.4 N/A

Last updated on 21/02/2018

Latest research

Turning point

Outlook | Media | 23/08/2012

Contracts, please

Update | Media | 25/04/2012

Funding the future

Update | Media | 26/10/2011

CME’s letter of intent

Flash note | Media | 12/10/2011

Business building

Update | Media | 10/08/2011

Much interest, but delays

Update | Media | 06/07/2011

Broadcasters go digital

Outlook | Media | 09/05/2011

Investment summary

Underpinned by its recently announced Netflix global deal for YooHoo and Friends, as well as a couple of major new productions for the Chinese market, Mondo has significantly increased net profit expectations over the next five years. We upgrade our forecast net profit by 4%, 40% and 44% for the three forecast years, respectively. FY18 P/E and EV/EBIT parity with peers could drive the shares up towards €9.0 per share.

Last updated on 02/03/2018

Industry outlook

The market for children’s entertainment has been reinvigorated with the growth of VOD platforms looking for multi-territory content. Animations travel well and, as seen from the success of eOne’s Peppa Pig, brands that travel have the potential to yield significant returns. Smaller brands can also be very profitable; Mondo, with its flexible cost base and high share of revenues from licensing and merchandising sales, enjoys 46% EBIT margins.

Last updated on 02/03/2018

Key management

Orlandi Corradi, Chairman
Matteo Corradi, CEO
Carlo Marchetti, FD

Company address

Via Brenta
11 00198
+39 06 86323293
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