Matilde Gioli Luca Argentero
Fremantle does not push Luxvide Finanziaria’s profits
The second budget approved in the era Fremantleone of the leading cultural and entertainment production groups in the worldsees the profit of Luxvide Financiala Roman film production company with over 700 employees founded by the deceased Ettore Bernabei and controlled since March 2022 at 70% by the entertainment group through the FremantleMedia Italy Group led by Andrea Scrosati, while the Bernabei family through Rml Partecipazioni remained at 30%, starting with Luca who is CEO.
A few days ago, in fact, the partners have sent the entire profit of over 8.6 million euros recorded in the 2023 ordinary balance sheet to reserve which compares with that of 11.2 million in the previous year. The decreased profitability is the result of a year-on-year drop in revenues from 66.8 million to 53.3 million, of which 42.4 million came from the seven series delivered during the year and 10.5 million from the exploitation of rights.
The seven series were: “Good morning mum 2”, “God help us 7”, “One step from heaven 7”, “Blanca 2”, “Doc, in your hands – third season”, “Fantastic 5” and I hate Christmas 2”. Last year Luxvide produced the 14th series of the very successful “Don Matteo” for Rai1 broadcast in autumn and the second series of “Viola come il mare” whose programming has just started on Canale 5.
The company collected 10.8 million in tax credits in 2023but financial management also worsened slightly year-on-year due to the increase in interest rates and so net bank debt rose from 15.7 million to almost 18 million, however a sharp decline from almost 36 million in 2020 Current debts to banks are 28 million and almost all self-liquidating.
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