(Finance) – BDO Italy has not expressed an opinion on the consolidated financial statements Of Fenix Entertainmenta company listed on Euronext Growth Milan and active in the production of film and television content.
The reviewers point out that, as part of the checks on the reasonableness of the assumptions placed at the basis of the new Business Plan 2023-2025, they noted “some critical issues” regarding: the expected growth of the post-production activity, which represents a preponderant part of the revenues according to the plan; lack of documentation to support the alleged cost reduction; objectives for improving supplier payment times and compliance with the reimbursement of debt positions already due.
BDO Italy then stated that “the assumption of business continuity It is subject to several significant uncertainties with potential interactions and possible cumulative budgetary effects”.