Mondo TV Suisse: first half 2016 EBIT turns to loss

World TV Suisse, company listed on AIM Italy, announced the results of the first half of 2016, closed with a production value of 1.46 million Swiss francs, 42% fewer than the 2.58 million achieved in the first half last year, due to the slowdown of some productions for which, at the request of the client, it was decided to modify the general approach of the series and it is still going on the pre-production activities.

In the first six months,  EBIT loss 62,000 francs versus profit 153,000 francs a year ago. At the end of June, net debt rose to 626,000 Swiss francs, from 217,000 beginning of the year, following the postponement of payments from some customers.

Senior management approved the 2016-2018 business plan. The company aims to close the current year with production value at 4.1 million Swiss francs and an operating result at 252,000 francs.
At the end of the plan, the production value is estimated at 7.2 million francs, while EBIT forecast is at 1.4 million francs.