(Alliance News) - The board of directors of Mondo TV France SA on Tuesday approved the company's results as of December 31, 2022, a year that ended with a loss of EUR200,000 in 2022 from a net profit of EUR600,000.

For the year, Mondo Tv France's sales and service revenues stood at EUR1.3 million down 69 percent from EUR4.3 million in 2021.

In 2022, Mondo TV France's value of production stood at EUR3.1 million, down 59% from EUR7.5 million in 2021.

Ebitda was EUR600,000 from EUR3.9 million in 2021. "The decrease is driven by the decrease in revenues," the company points out.

Ebit is negative EUR200,000 from positive EUR600,000 in 2021, after depreciation and amortization of EUR800,000 from EUR3.3 million in 2021.

Net financial position changed from net debt of EUR2.9 million as of December 31, 2021 to net debt of EUR1.4 million as of December 31, 2022.

The company said it expects 2023 to grow "with a substantial increase in revenues, Ebitda at EUR2.5 million and a return to profit. Specifically, revenues are expected to be EUR3.3 million, up 154 percent from 2022, Ebitda to EUR2.5 million from EUR600,000 in 2022, and Ebit to EUR300,000 from a negative EUR200,000 in 2022.

Mondo TV France closed Tuesday's session in the red by 26 percent to EUR0.015 per share.

By Maurizio Carta, Alliance News reporter

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