Consolidated half-year financial report as
as of June 30, 2022
Parent company: IERVOLINO & LADY BACARDI ENTERTAINMENT SPA
Registered office: Via Barberini n. 29 – 00187 – ROME
Registered in the Companies Registry of: ROME
Tax code and VAT number: 11636381003
Registered at the REA of ROME no. RM-1318599
Subscribed capital EUR: 1,410,427.92 fully paid up
ILBE GROUP MANAGEMENT REPORT ON THE CONSOLIDATED HALF-YEAR FINANCIAL STATEMENTS AT JUNE 30, 2022
- The macroeconomic context and the reference industry ‘Media & Entertainment’
- The business model of the ILBE Group
- Activities carried out in the first half of 2022
- Order book and projects in development
- Summary data and alternative performance indicators (APIs)
- Transactions with related parties
- Human ressources
- Research and development
- Disclosure of key risks and uncertainties
- Significant events occurring after the end of the period
- Business Outlook
SUMMARY HALF-YEARLY CONSOLIDATED FINANCIAL STATEMENTS AND NOTES TO THE FINANCIAL STATEMENTS AT JUNE 30, 2022
Consolidated half-year statement of financial position
Consolidated statement of comprehensive income for the semester
Consolidated statement of changes in equity for the half-year
Consolidated half-year cash flow statement
- Company Information
- Basis of preparation and changes in accounting standards for the Group
- Operating sectors: Politics
- Business combinations
- Explanatory Notes
EY SPA STATUTORY AUDITORS’ REPORT
ILBE GROUP MANAGEMENT REPORT ON THE HALF-YEAR CONSOLIDATED FINANCIAL STATEMENTS AT JUNE 30, 2022
The condensed consolidated half-year financial statements as of June 30, 2022 of Iervolino
- Lady Bacardi Entertainment Group (hereinafter also referred to as the ILBE Group or the Group) includes parent company Iervolino & Lady Bacardi Entertainment SpA (formerly Iervolino Entertainment SpA) and investments in Arte Video Srl and Arte Video Llc, RED Carpet Srl, Wepost Srl, Iervolino Studios doo e Sobe Sport Srl, which for the last time represented a variation with respect to the scope of the previous financial year.
The half-yearly consolidated financial statements as of June 30, 2022 are expected with total revenue of €83,260 thousand and EBIT, before certain non-recurring charges of €1,511 thousand, of €11,207 thousand. The EBIT margin for the semester was 13.46%.
At the same time, the net financial position (net of the net effect of 2,095 thousand euros over the whole of 2022 of the IFRS 16 standard relating to new leases) improved to 26,531 euros compared to December 31, 2021 equal at 29,289 euros.
The results obtained are consistent and consistent with the backlog and the projects under development and the direction of the foreseeable evolution of the management represented in the consolidated management report of the previous year.
These results are, moreover, in line with the strategic choices of:
- Invest in quality intellectual properties;
- essentially international market choice and, mainly, intended for a streaming audience;
- Prioritize growth and long-term value creation short-term profitability;
- Investment and growth within the framework of financial equilibrium.
In this regard, the appreciation successes with international and national audiences on SKY-cinema, Apple TV, SKY-Dea Kids and Amazon Prime Video of the “Arctic Friends”, “Puffins”, Waiting for the Barbarians, In Dubious Battle – Il Courage of the Last, The Bleeder, The Humbling, Shiraz – The City of Roses, Beyond the Edge, and others, confirm the validity of the choices made.
2. The macroeconomic context and the reference industry ‘Media & Entertainment’
The global entertainment and media (M&E) industry experienced a significant increase last year, far outpacing overall global economic growth. After a pandemic-related decline of 2.3% in 2020, M&E revenues grew 10.4% in 2021, from $2.12 trillion to $2.34 trillion.
The industry is becoming more digital, more mobile and more youth-focused. Virtual reality (VR) and games are strong growth drivers, while digital advertising permeates the entire industry.
Expected Outlook results from a sector study by a leading international consulting firm include:
- The global production of video games and esports totaled USD 215.6 billion in 2021 and is expected to grow at a CAGR of 8.5% to reach USD 323.5 billion in 2026. Asia-Pacific generated the share of the revenue in 2021 with 109.4 billion USD, almost double that of North America. , the second highest region. Gaming is now the third largest M&E content category that consumes data, behind video and communications.
- Virtual reality continues to be the fastest growing M&E segment, albeit from a relatively small base. Global virtual reality spending increased by 36% year-over-year in 2021 to $2.6 billion, following growth of 39% in 2020. Growth between 2021 and 2026 is expected to reach a CAGR of 24%, pushing the segment to $7.6 billion dollars. Gaming content is the largest contributor to VR revenue, with revenue of $1.9 billion in 2021. This figure is expected to increase to $6.5 billion in 2026, or 85% of total revenue virtual reality.
- The spread of advertising in the digital world has made it a dominant industry category. After declining nearly 7% in 2020, advertising grew by an impressive 22.6% in 2021 to $747.2 billion. Driven almost entirely by digital, advertising is expected to grow at a CAGR of 6.6% through 2026. Internet advertising revenue is expected to grow even faster, reaching a CAGR of 9.1%. By 2026, advertising is expected to be a $1 trillion market and the largest source of M&E revenue, having surpassed consumer spending and internet access.
- After growth of 35.4% in 2020, Over-the-top (OTT) videos grew another 22.8% in 2021, bringing revenue to $79.1 billion. The pace of OTT revenue growth will moderate slightly; it is expected to grow at a CAGR of 7.6% through 2026, bringing revenue to $114.1 billion.
- Traditional television, beleaguered by competition from OTT streaming services, is still generating strong revenues, but its inexorable decline will continue, with global revenues expected to shrink to a -0.8% CAGR from USD 231 billion in 2021 to USD 222.1 billion in 2026.
- Global cinema revenues rebound, reversing losses caused by the pandemic, and are expected to reach a new high of USD 46.4 billion in 2023. Box office revenues are expected to reach USD 49.4 billion in 2026 from USD 20.8 billion. USD in 2021, a CAGR of 18.9%. China overtook the United States to become the world’s largest film market in 2020 and is expected to maintain this leadership through 2026.
- Live music revenues are expected to exceed pre-pandemic levels in 2024. Digital music streaming subscriptions are driving growth in the recorded music industry, where revenue is expected to grow from $36.1 billion in 2021 to $45.8 billion in 2026.
- Content growth is fueling massive data consumption: 2.6 million petabytes (PB) of data was consumed in 2021 and is expected to grow at a CAGR of 26% to reach 8.1 million PB by 2026. gaming will be the fastest growing data consumer over the forecast period, with an expected CAGR of 29.6%. Mobile phones will be the fastest growing device category between 2021 and 2026, with a CAGR of 28.8% and are expected to increase mobile data consumption from 1.1 million PB to 3.8 million of Po.
Essentially, what emerges from the M&E market trend is that the choices billions of consumers make about where to invest their time are fueling industry transformation and driving trends. We are essentially seeing the emergence of a global M&E consumer base for the next few years that is younger, more digital, and more streaming and gaming than the current consumer population. It shapes the future of the industry.
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Iervolino & Lady Bacardi Entertainment SpA published this content on November 08, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on November 08, 2022 22:36:52 UTC.
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Technical Analysis Trends IERVOLINO & LADY BACARDI ENTERTAINMENT SPA
|Short term||Middle term||Long term|
Evolution of the income statement
|Number of analysts||1|
|Last closing price||€1.27|
|Average target price||€3.05|
|Average Spread / Target||140%|