(Finance) – Iervolino & Lady Bacardi Entertainment (ILBE), a global production company listed on Euronext Growth Milan and Euronext Growth Paris, closed on 2023 with revenues consolidated amounts of 172.6 million euros, an increase of 7% compared to December 2022.EBIT consolidated amounted to 11.7 million euros (20.8 million euros in 2022), while EBIT net of non-recurring charges reached 10.4 million euros, equal to 6.0% of revenues. L’Net income is equal to 4.7 million euros and shows an increase of 1.2 million compared to that of the same period in 2022 equal to 3.5 million euros.
“Over the last 24 months we have decided to continue doing very important investmentsto support our productions and to grow the company’s brand awareness – he commented Andrea Iervolino, president and founder of ILBE – We have demonstrated this with successful film works such as “Tell it Like a Woman”, “Lamborghini – the man behind the legend” and “Ferrari”. Certainly these films give us access to high quality talent and an important positioning in the industry which is already allowing us – among other things – a recovery in marginality. The economic return is not always immediate but I am at peace in stating that both the margins and the financial situation have always remained almost in line, if not higher, than those of the sector”.
There net financial position debt (net of the net effect relating to the application of IFRS 16) amounted to 39.3 million euros (23.1 million euros at 31 December 2022) due to the greater investments made and paid in the period (41 .7 million euros before the IFRS 16 effect, vs 25.8 million euros in 2022).
First Call of the Ordinary Assembly on 12 April 2024. Proposal of allocate the operating profit to the reserve extraordinary.