(Finance) – Iervolino & Lady Bacardi Entertainment (ILBE), a global production company listed on Euronext Growth Milan and Euronext Growth Paris, closed the first quarter with consolidated revenues equal to 26.9 million euros, down 39.8% compared to 44.5 million euros at March 31, 2021 due to the completion of the Artic Friends production, while the new animated productions in progress (Baby Puffins & Bunny) will begin their first deliveries in the second quarter of 2022, together with other film productions (Puffins, State of Consciousness, Muti, Giving back 2 and Giving back 3, In the fire).
L’EBIT amounted to 4 million euros (compared to 5.9 million at March 31, 2021), gross of 0.3 million of non-recurring charges of the parent company referring to additional smart-working costs. There marginality for the period it rose to 14.9% compared to 13.3% in the first quarter of 2021 thanks to the effect of some management performance improvement actions. There Net financial position consolidated as of March 31, 2022 has a debt balance of € 28.9 million, compared to € 29.3 million as of December 31, 2021. The backlog is equal to 152.4 million euros over three years, of which approximately half related to activities in 2022.