Earnings Release • Feb 10, 2017
Earnings Release
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Saint-Denis, February the 10th 2017 – EuropaCorp, one of the leading independent film studios in Europe, film producer and distributer, today confirms a loss for the year-end close 2016-2017 (closing date: March the 31st 2017).
The weak performance of English language films released during the fiscal year, including recent releases Miss Sloane and The Founder, will contribute to a full-year loss which the company expects to be greater than losses reported in previous years.
In response to these issues, EuropaCorp has moved to strengthen its distribution capabilities in the U.S. by entering into a new multi-year agreement for STX Motion Pictures Group to provide theatrical marketing and distribution services for EuropaCorp's releases.
In addition to changes to its U.S. distribution activities, EuropaCorp has closed multiple transactions during the fiscal year to provide additional financial strength. These include restructuring the company's first and second lien debt, raising equity capital from FF Motion Invest, a subsidiary of Fundamental Films, and the recent sale of the company's multiplex activities to Cinemas Gaumont-Pathe.
The completion of these financial transactions provides EuropaCorp operating capital to deliver on its mission to produce and distribute feature films and television series around the world, including such highly-anticipated events as Valerian and The City of a Thousand Planets, Taxi 5, and the TV series Taken.
May 2017 Annual 2016/2017 revenue June 2017 Consolidated annual 2016/2017 income
EuropaCorp is one of Europe's leading film studios. Founded in 1999, EuropaCorp has operations spanning production, theatrical distribution, video and VOD, and television sales. EuropaCorp also has international rights, partnerships and licensing, production and soundtrack publishing activities. The Group has also been producing TV series since 2010. EuropaCorp's integrated business model allows it to benefit from diversified sources of revenue. With a line-up boasting various types of films and a very strong foothold in international markets, the Group has produced France's biggest international hits in recent years. EuropaCorp was founded by French filmmaker, screenwriter and producer Luc Besson. The Group owns a catalogue of 500 movies.
For more information, go to www.europacorp-corporate.com
CLAI | Nicolas Obrist | [email protected] | +33 1 80 50 53 10
EuropaCorp is listed in Compartment C of Euronext Paris ISIN code: FR0010490920 – Ticker: ECP
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