A RECORD YEAR FOR IERVOLINO ENTERTAINMENT – THE ITALIAN PRODUCTION COMPANY REACHED A VALUE OF 720 MILLION EUROS IN 2020

For the famous Italian producer Andrea Iervolino, CEO and founder of the international film and television production company Iervolino Entertainment, listed on the Milan Stock Exchange, 2020 was more than successful. After opening a new animated content production company Iervolino Studios in Serbia, they ended the year with revenues higher by 51 percent compared to 2019. It is, therefore, estimated that Iervolino Entertainment (IE) reached a value of 720 million euros, despite the global crisis caused by the pandemic of the COVID-19 virus, which has hit the entertainment industry the hardest. The success is all the greater when you look at the competition’s performance in the field of film production, where many companies have listed the same amount of debts as the revenues in their financial statements for 2020. 

However, in order to continue in the same pace this year, Andrea Iervolino decided to sell 1% of his total share in IE, sending a clear message to the rest of the market: the company is doing very well, it deserves even more value, and he will do everything in his power to provide greater liquidity for shares of Iervolino Entertainment listed on the Milan Stock Exchange. 

“The decision to sell one package of shares should be viewed exclusively positively, because I have positioned my shares in the blocs of large international funds, which have shown they believe in our common vision and I am sure they will support it in the long run. As you know, every successful company listed on the stock exchange must have shares with great market liquidity, and thus significant free turnover, in order to reach a higher value over time, said Andrea Iervolino. 

This attitude is shared by many successful entrepreneurs – more institutional investors among the company’s shareholders guarantees stability and growth in the value of shares on the stock exchange, while a small number of investors automatically means weaker stock trading, and therefore lower company’s value. Andrea Iervolino listed its Iervolino Entertainment on the Milan Stock Exchange in August 2019, placing 5.5 million shares worth 1.95 euros each. Today, they are worth 3.6 euros, 84 percent more, bringing IE an annual income of 120.7 million euros. 

Iervolino Entertainment plans to invest 100 million euros in the production of animated content, with an additional 8.5 million euros in its branch – Iervolino Studios in Serbia, which is envisaged by signing the Memorandum of Understanding with the Ministry of Economy of Serbia and a Memorandum of Cooperation with Archangel Digital Studios, owned by Miloš Biković. 

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on whatsapp

More NEWS