(Alliance News) - The board of Leone Film Group Spa on Thursday approved the draft financial statements for the year ending Dec. 31, 2023, reporting a consolidated net loss of EUR800,000, compared to a profit of EUR2.5 million in 2022.

Operating income and revenues were EUR86.6 million compared to EUR56.2 million in 2022. "The increase is mainly attributable to higher revenues generated by production activities and the fact that important serial productions started in the year 2022 were delivered in 2023," the company wrote in the released note.

Consolidated Ebitda is EUR70.6 million and is up 81 percent from 2022, when it was EUR39.0 million. This higher value is mainly due to the fact that many important serial productions started in the year 2022 were finished and delivered in 2023.

Ebit was EUR4.1 million from EUR4.7 million in 2022.

Consolidated net financial debt as of December 31, 2023 was EUR83.5 million from EUR84.4 million as of last June 30 and EUR80.6 million as of December 31, 2022.

Leone Film Group closed Thursday's session 1.8 percent in the red at EUR1.65 per share.

By Maurizio Carta, Alliance News reporter

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