LICENSING NEWS

Entertainment One reports increased losses as Hasbro merger vote looms

Published on: 11th October 2019

The figures are unveiled just days before Hasbro shareholders are due to vote on the takeover offer.

Entertainment One has revealed a £43.9m loss in Q1. The loss is up from a £6.8m loss this time last year, as the company blamed higher debt and its acquisition of Audio Network.

Revenue fell 7% YoY to £173.1m, while underlying earnings before interest, tax, depreciation and amortisation (Ebitda) fell from £17.3m last year to £13.4m. Shareholders saw losses per share climb from 0.3p this time last year to 8.3p this quarter.

The eOne report said that while family and brands division revenue was “broadly stable”, film and television suffered a poor performance due to “variances in the timing and mix of deliveries compared to the prior period”.

In just under a week, Hasbro is set to seek shareholder approval to acquire eOne for the sum of £3.3bn. The vote is scheduled for next Thursday.

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