{"id":27163,"date":"2024-10-15T10:05:42","date_gmt":"2024-10-15T08:05:42","guid":{"rendered":"https:\/\/integrae.it\/?p=27163"},"modified":"2024-10-15T10:05:43","modified_gmt":"2024-10-15T08:05:43","slug":"update-15-10-2024-4","status":"publish","type":"post","link":"https:\/\/integrae.it\/en\/research\/update-15-10-2024-4\/","title":{"rendered":"UPDATE &#8211; 15.10.2024"},"content":{"rendered":"\n<figure class=\"wp-block-table\"><table><tbody><tr><td>In the first half of 2024, Mondo TV recorded a production value of \u20ac4.39 million, remaining relatively stable compared to \u20ac4.55 million in the same period of 2023. EBITDA, although showing a slight decrease from 1H23A (from \u20ac2.06 million to \u20ac2.02 million), remains at solid levels. The EBITDA margin increased slightly, rising from 45.3% to 45.9%. In terms of EBIT, the Group saw a significant improvement, moving from a negative value of \u20ac-0.26 million in 1H23A to a positive value of \u20ac0.29 million in 1H24A. Mondo TV\u2019s Net Income stands at \u20ac0.12 million, showing a notable improvement compared to the negative result of \u20ac-1.54 million recorded in the first half of 2023. The NFP is \u20ac7.10 million in debt, an improvement compared to \u20ac7.59 million in debt at the beginning of the year.\u00a0<br><br>In light of the results published in the half-year report for 1H24A, we are adjusting our estimates for both the current year and the coming years. In particular, we estimate a production value for FY24E of \u20ac9.00 million and an EBITDA of \u20ac4.10 million, corresponding to a margin of 45.6%. For the following years, we expect the production value to increase to \u20ac10.80 million (CAGR 23A-26E: 4.4%) in FY26E, with an EBITDA of \u20ac5.70 million, corresponding to a margin of 52.8%.<br><br>We conducted the equity value assessment of Mondo TV based on the DCF methodology and the multiples of a sample of comparable companies. The DCF method (which prudently includes a specific risk of 2.5% in the WACC calculation) results in an equity value of \u20ac34.1 million. The equity value of Mondo TV using market multiples is \u20ac33.6 million (including a 25% discount). This leads to an average equity value of approximately \u20ac33.9 million. <strong>The target price is set at \u20ac0.50, with a BUY rating and MEDIUM risk.<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>In the first half of 2024, Mondo TV recorded a production value of \u20ac4.39 million, remaining relatively stable compared to \u20ac4.55 million in the same period of 2023. EBITDA, although showing a slight decrease<\/p>\n","protected":false},"author":5,"featured_media":16348,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-ricerche.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[240,242],"tags":[304],"class_list":["post-27163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research","category-update-en","tag-mondo-tv-2"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UPDATE - 15.10.2024 - integrae.it \u2013 Financial Boutique<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/integrae.it\/en\/research\/update-15-10-2024-4\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UPDATE - 15.10.2024 - integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"og:description\" content=\"In the first half of 2024, Mondo TV recorded a production value of \u20ac4.39 million, remaining relatively stable compared to \u20ac4.55 million in the same period of 2023. 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