Earnings Release • Feb 14, 2012
Earnings Release
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Paris, 14 February 2012 – EUROPACORP, the producer and distributor of feature films and one of the leading independent film studios in Europe, today announces its unaudited consolidated revenue for the 3rd quarter and first 9 months of FY 2011/2012.
| Revenue* | Q3 | Q3 | 9 months | 9 months | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| (€m) | 2011/12 2010/11 |
2011/12 | 2010/11 | Δ | |||||||
| International Sales | 6.6 | 9.0 | 45.5 | 28.3 | 60.9% | ||||||
| % of revenue | 29.2% | 16.6% | 48.8% | 25.4% | |||||||
| Cinema, France | 6.6 | 24.5 | 10.7 | 30.6 | -65.1% | ||||||
| % of revenue | 29.2% | 45.1% | 11.5% | 27.4% | |||||||
| Video, France | 3.6 | 4.1 | 8.4 | 11.4 | |||||||
| % of revenue | 15.9% | 7.6% | 9.0% | 10.2% | -26.1% | ||||||
| Television, France | 3.0 | 8.4 16.0 16.6 |
|||||||||
| % of revenue | 13.1% | 15.5% | 17.1% | 14.9% | -3.8% | ||||||
| Subsidies | 1.7 | 4.7 | 4.3 | 8.8 | -51.5% | ||||||
| % of revenue | 7.4% | 8.7% | 4.6% | 7.9% | |||||||
| TV Series | 0.2 | 2.0 | 3.6 | 8.7 | -58.7% | ||||||
| % of revenue | 0.8% | 3.7% | 3.9% | 7.8% | |||||||
| Others | 1.0 | 1.6 | 4.8 | 7.1 | |||||||
| % of revenue | 4.3% | 2.9% | 5.1% | 6.4% | -32.6% | ||||||
| EuropaCorp Group | 22.7 | 54.3 | 93.3 | 111.5 | -16.4% |
* The financial year ends on 31 March of each year
Consolidated Q3 revenue is €22.7 million, down 58.2% year-over-year. Key events for the quarter were the domestic and international theatrical releases of the films A Monster in Paris, The Source and The Lady.
The Cinema, France segment generated revenue of €6.6 million, through the release of films that performed well but still fell short of expectations. Q3 revenue for the previous year was exceptionally high at €24.5 million and was dominated by the release of four films, which alone accounted for over 10 million French admissions.
International Sales posted revenue of €6.6 million. This primarily corresponds to releases of the film A Monster in Paris and to the royalties that Colombiana continues to generate due to the major international success this film has enjoyed (released in more than 60 countries).
Revenue for the Video, France segment is €3.6 million, mainly driven by the French video release of Colombiana and special operations involving catalogue films during the end-of-year holiday season.
The Television, France segment posted revenue of €3 million. No broadcast windows with significant rights became available during this quarter.
The Q3 Subsidies of €1.7 million are for the most part tied to the number of theater admissions for the film A Monster in Paris.
The TV Series segment still did not generate any significant revenue over the quarter due to major projects being deferred (in particular Transporter – The Series, for which shooting was halted and then postponed due to an injury to the lead actor).
Over the quarter, the €1 million in revenue from Other Activities primarily corresponds to revenue generated by the Music division and sales of the A Monster in Paris original soundtrack.
| 2011/12 | 2010/11 | |||||
|---|---|---|---|---|---|---|
| Revenue (€m) | Q1 | Q2 | Q3 | Q1 | Q2 | Q3 |
| International Sales | 4.0 | 34.9 | 6.6 | 4.8 | 14.5 | 9.0 |
| Cinema, France | 2.1 | 1.9 | 6.6 | 5.6 | 0.6 | 24.5 |
| Video, France | 2.8 | 2.0 | 3.6 | 2.8 | 4.4 | 4.1 |
| Television, France | 6.1 | 6.9 | 3.0 | 3.8 | 4.5 | 8.4 |
| Subsidies | 1.9 | 0.6 | 1.7 | 1.3 | 2.8 | 4.7 |
| TV Series | 0.5 | 2.9 | 0.2 | 3.6 | 3.2 | 2.0 |
| Others | 1.6 | 2.2 | 1.0 | 1.2 | 4.3 | 1.6 |
| Group total | 19.2 | 51.4 | 22.7 | 23.0 | 34.1 | 54.3 |
During the final quarter of the financial year, shooting for Taken 2 will be completed and the English-language film Lock-Out will be released internationally. The French theatrical release has been postponed to 18 April 2012.
Production has started for the film The Man Who Laughs and shooting for season 2 of the series XIII is already underway.
EuropaCorp confirms that talks are being held with Universal Studios and Angelina Jolie's representatives with a view to Luc Besson's next English-language action film.
EuropaCorp ranks amongst the top European film studios. Founded in 1999, EuropaCorp's different activities include production, theater distribution, home entertainment, VOD, sales of TV rights for France as well as sales of international rights, partnerships and licenses, original soundtrack production and publishing. The Group has also been producing TV drama since 2010. EuropaCorp's integrated financial model generates revenues from a wide range of sources. With films from a wide range of genres and a strong presence in the international market, the Group has produced some of the latest French worldwide record-breaking successes. EuropaCorp's catalogue includes 500 films and the company employs 120 permanent staff members.
For more information go to www.europacorp-corporate.com
EuropaCorp Group Image Sept Olivier Roullet – Investor Relations Sylvie Ruggieri / Fabrice Rémon Tel: +33 1 53 83 03 03 Tel: +33 1 53 70 74 70
[email protected] [email protected] / [email protected]
EuropaCorp is listed on Euronext Paris - Compartment C by NYSE Euronext ISIN: FR0010490920 – Mnemonic: ECP
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