Leone Film Group in 2021 recorded preliminary consolidated revenues unaudited equal to 98,1 million euros, with an increase of 35% compared to 2020 which saw the total recovery of production activity after the restrictions due to the pandemic. The figure compares with the 104,5 million euros estimated in the 2021 business plan.
The company – listed on Euronext Growth Milan – is one of the most important independent Italian companies active in the production and distribution of audiovisual products.
The group is active inentire film exploitation chain in Italy, starting from the production also through the acquisition of the Lotus Production Srl company, up to the distribution on the Italian market through different channels (Theatrical, Television, Home Video, DVD, digital platforms). Thanks to the management's consolidated international experience in the cinematographic sector, the Group also offers itself as a platform for foreign producers who want to delegate executive production to Italy. The Company owns a library of almost 600 films.
Through the subsidiary Pacmedia it is also present in the communication, product placement and brand integration activities.
The accounts improve after the restrictions for the pandemic
THEPreliminary EBITDA amounted to 48,1 million euros, an increase of 72% compared to 2020 and higher than the 39,1 million euros envisaged in the 2021 business plan. This better result - states a company press release - "is mainly due to the delivery in December 2021 of the TV series “Everyone is fine at home”, which in the plan was foreseen in 2022”.
THEnet financial debt unaudited preliminary consolidated financial statements at 31 December 2021 amounted to 61 million euros, an increase of 2,5 million euros compared to 30 June 2021 (58,5 million euros) and a decrease of 5 million euros compared to 31 December 2020 (65,9 million euros) and lower than that envisaged in the 2021 Strategic Plan (66,4 million euros). "The lower debt is mainly due to cash advances higher than expected for international productions", specifies the note. During 2021, the filming of the film "Time is up 2" was completed, while the Leone Film Group distributed the film "The Wolf and the Lion" in cinemas which, still present in theaters today, reached a box of nearly 2 million euros.
Margins improve in all business areas“
All the business areas of the Group have created margins. Distribution, in one of the most difficult periods for theatrical releases, has nevertheless obtained deextremely positive results, thanks to the quality of the selected product and the commercial choices of the Group”, finally adds the note.
"Despite a 2021 that continued to suffer from the pandemic, it is with great satisfaction that today we communicate the results, which show a significant increase compared to last year and improvements compared to the forecasts of the 2021 business plan", commented Andrea and Raffaella Leone, managing directors of Leone Film Group.
