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ER - PAL Next AG: Business development in the first half of 2024 according to plan

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 News Details

Corporate | 25 September 2024 07:30

#   

PAL Next AG: Business development in the first half of 2024 according to plan

EQS-News: PAL Next AG / Key word(s): Half Year Report/Half Year Results  

PAL Next AG: Business development in the first half of 2024 according to plan  

25.09.2024 / 07:30 CET/CEST  

The issuer is solely responsible for the content of this announcement.  

**PAL Next AG: Business development in the first half of 2024 according to plan  

  

Munich, 25 September 2024.** PAL Next AG (Xetra symbol: [PAL](https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=871c904383efe901482b1cba5b7057db&application_id=1994413&site_id=news_data&application_name=news) ; ISIN: [DE000A12UPJ7](https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=871c904383efe901482b1cba5b7057db&application_id=1994413&site_id=news_data&application_name=news) ) and its subsidiaries developed according to plan in the first half of 2024. Overall, the 2024 financial year is a production year for the PAL Next Group that is characterized only to an insignificant extent by the recognition of revenue from completed productions.  

  

**Pioneering role in the use of artificial intelligence strengthened – More promising film and series formats in production**

Storybook Studios presented the SPACE VETS animation series in August and received great acclaim in the professional community for the pilot episode of the first series produced entirely with Artificial Intelligence (AI). The story and visual world were created from scratch by Storybook Studios and not based on existing artwork as is the case with other AI animation series. At the same time, the production process could be designed to be significantly more efficient, faster and more scalable: The semi-automated development and production took place in just 60 days and with a fraction of the size of a conventional animation team.

PANTALEON Films worked on various productions in the first half of 2024, including the anti-war film THE TIGER (working title) for Amazon Prime Video, which was in post-production at the time of reporting, having completed principal shooting in 2023. In addition, shooting took place for the feature film THE LIFE OF WISHES, which was successfully completed in July 2024. The film is expected to be released in German cinemas in 2025. Shooting for the feature film ONE HIT WONDER and the second season of the hit series ASBEST will still start in the current financial year.  

  

**Revenue and earnings impact of current productions to be recognized as planned in the following year**

Revenue decreased to EUR 1.2 million in the first half of 2024 (H1 2023: EUR 21.2 million). The significant decrease is attributable to the fact that revenue can only be recognized from the coming financial year 2025 as the production process progresses. Total operating revenue including other operating income decreased accordingly to EUR 1.5 million (H1 2023: EUR 21.2 million).

Based on lower revenue, earnings before interest and taxes (EBIT) decreased to EUR -2.3 million (H1 2023: EUR -0.7 million). Contributory factors were a lower cost of materials attributable to the low volume of contract production and lower personnel expenses following the restructuring in the previous year.  

  

**Forecast for 2024 confirmed – Expectations for 2025 reaffirmed**

For the current 2024 financial year, the Management Board confirms its forecast based on the course of business so far and on current project planning and expects revenue of between EUR 3 million and EUR 4.5 million for the PAL Next Group. Total operating revenue including other operating income is still expected to amount to at least EUR 4 million. Despite lower revenue, the Management Board continues to expect earnings before interest and taxes (EBIT) at the previous year’s level of between EUR -4 million and EUR -2.5 million as a result of lower costs resulting from the focus on the established production business for film and series projects.

For 2025, the Management Board reaffirms its expectations of revenue growth back to the 2022 level of around EUR 21 million and a break-even EBIT.  

  

**Webcast/Conference Call:**

Stephanie Schettler-Köhler, CEO of PAL Next AG, will explain the results for the first half of 2024 in a webcast presentation today, September 25, 2024, at 14:00 CEST. The presentation will be held in German.

Please register in good time for participation at:

[**PAL Next 2024 Half-year Report – Webcast/Conference Call**](https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=47fdb1ea56898ac85bc9bd75bef828ba&application_id=1994413&site_id=news_data&application_name=news) .

The 2024 half-year report (German version) of PAL Next AG is available on the Company website at [www.pal-next.com](https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=a9061ebb03dca47b3198b48723fc0ce8&application_id=1994413&site_id=news_data&application_name=news) . The English version will follow a few days later.  

  

**About PAL Next AG:**

PAL Next Group comprises entertainment companies focusing on the integration of AI (Artificial Intelligence) into established production processes. With the experts at Storybook Studios realizing AI-generated content and AI-powered production processes, and more than a decade of experience producing award-winning movies and series at PANTALEON Films, PAL Next is uniquely positioned. In the production of cutting-edge and authentic entertainment, PAL Next Group cooperates with renowned partners such as Amazon, Disney, Sky, Netflix, Degeto, Paramount and Warner Bros. Discovery. PAL Next AG (formerly: PANTAFLIX AG) is representedin Munich and Berlin and is listed on the Frankfurt Stock Exchange under the XETRA symbol PAL and ISIN [DE000A12UPJ7](https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=871c904383efe901482b1cba5b7057db&application_id=1994413&site_id=news_data&application_name=news) .

For further information, please visit [www.pal-next.com](https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=dfbb48ab367f3df5bc49bfbf84096ff7&application_id=1994413&site_id=news_data&application_name=news) .  

  

**PAL Next Investor Relations**

CROSS ALLIANCE communication GmbH  

Susan Hoffmeister  

Phone: +49 89 125 09 03 30  

Mail: [sh@crossalliance.de](mailto:sh@crossalliance.de)  

Website: [crossalliance.de](https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=aac93ee802a336fcc0da80f3aa94e9ea&application_id=1994413&site_id=news_data&application_name=news)

  

- - -

25.09.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.  

The issuer is solely responsible for the content of this announcement.  

  

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.  

Archive at www.eqs-news.com  

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|     |     |
| --- | --- |
| Language: | English |
| Company: | PAL Next AG |
|     | Holzstraße 28/30 |
|     | 80469 Munich |
|     | Germany |
| Phone: | +49 89 2323 85 50 |
| Fax: | +49 89 2323 85 519 |
| E-mail: | ir@pal-next.com |
| Internet: | www.pal-next.com |
| ISIN: | DE000A12UPJ7 |
| WKN: | A12UPJ |
| Indices: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1994413 |

  

|     |     |
| --- | --- |
|     |     |
| End of News | EQS News Service |

![show this](https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1994413&application_name=news&site_id=news_data)