Annual revenue FY 2020/2021

Following the safeguard procedure finalized in July 2020, the Covid-19 epidemic has delayed the resumption of the Group's productions, which has not, however, been impacted by the closure of movie theaters. As the prospects for recovery have been postponed to the second half of 2021, the exploitation of EuropaCorp's catalog constitutes the bulk of revenues for the 2020/2021 financial year.
Consolidated annual revenues thus amounted to €41.5 million, down 41% compared to the previous fiscal year.

Saint-Denis, 26 May 2021 – EuropaCorp, one of the leading independent film studios in Europe, film producer and distributor, today reports its annual consolidated revenue for FY 2020/2021, which ended on March 31, 2021, as approved by the Board of Directors and currently being audited.

In millions of €	Second half-year		12 months		Δ 12 months
	HY2 2020/2021	HY2 2019/2020	FY2020/2021	FY2019/2020	%
International sales	2,4	5,5	12,1	14,8	-18%
% of revenue	15%	19%	29%	21%
Theatrical distribution	0,4	2,1	0,6	8,7	-93%
% of revenue	2%	7%	1%	12%
Video & VOD	0,9	2,0	1,3	4,9	-73%
% of revenue	6%	7%	3%	7%
Television & SVOD	7,8	10,6	19,0	27,3	-30%
% of revenue	51%	37%	46%	39%
Subsidies	0,0	0,2	0,0	1,1	-100%
% of revenue	0%	1%	0%	2%
TV series	2,3	2,9	5,6	6,0	-6%
% of revenue	15%	10%	14%	9%
Other	1,5	5,8	2,8	7,0	-60%
% of revenue	10%	20%	7%	10%
Group Total	15,3	29,1	41,5	69,8	-41%

HY2 and Annual Consolidated Revenue (unaudited)

The decline in revenue to €41.5 million (against €69.8 million during the previous fiscal year) is mainly explained by the absence of new films during the financial restructuring finalized in July 2020 and by the Covid-19 epidemic which has delayed the resumption of productions. The exploitation of EuropaCorp's catalog thus constitutes the bulk of revenues.

Revenue from International sales stood at €12.1 million for the fiscal year, representing approximately 29% of total turnover, versus 14.8 million for FY 2019/2020. They comprised mainly of significant overages collected on films from the catalog (mainly Lucy and the trilogy Taken), as well as the last deliveries of the films Kursk and Renegades in China.

Revenue from Theatrical distribution in France was €0.6 million for FY 2020/2021, or around 1% of total revenue, against €8.7 million in 2019/2020. This revenue corresponds in FY 2020/2021 to the last receipts received for the exploitation in the French theatres of Little White Lies 2 (Nous finirons ensemble).

Revenue from Video & VOD in France and the United States represented around 3% of the annual revenue, coming in at €1.3 million, versus €4.9 million in FY 2019/2020. This turnover included video and VOD sales realized in the United States, in particular for Valerian and the City of a Thousand Planets, and in France for Little White Lies 2 (Nous finirons ensemble) and Taxi 5 (though less significant than during the previous financial year).

Revenue from Television & SVOD sales in France and the United States stood at €19.0 million, or 46% of total revenue, versus €27.3 million for last financial year. This turnover was mainly driven by the French market and corresponds essentially to the opening of broadcasting rights windows for films from the catalog such as Taxi 5, Anna, Bis, 20 ans d'écart, and the trilogy Taken.

Revenue from TV Series productions was €5.6 million for FY 2020/2021, or 14% of total revenue, against €6.0 million for FY 2019/2020. This revenue corresponds to the international exploitation of the series Taken (overages).

Revenue from Other activities comprised mainly of post-production, licenses, partnerships and coproduction / line production receipts and was €2.8 million (including €0.6 million for post-production), or 7% of total turnover, against €7.0 million for the previous financial year which included coproduction receipts for the film Little White Lies 2 (Nous finirons ensemble).

Outlook

The Company is pursuing its strategy to launch new productions of films, with an aim of two English-language films and one French-language film per year, and of English-language TV series with strong international potential.

EuropaCorp currently has several projects of films ready to start production but the evolving health situation linked to Covid-19 has made it difficult to organize production, especially for English-language films with international dimension.

The Company has continued to develop content aligned with EuropaCorp's historic successes and production will resume as soon as possible.

ABOUT EUROPACORP

Founded in 1999, EuropaCorp has grown to become one of the leading film and series production studios in Europe. The Group's international activities cover the entire film value chain with expertise in production, theatrical distribution, international sales, TV, video & VOD, and music publishing. EuropaCorp is able to ensure creativity and quality throughout the lifecycle of its films and television projects. The Group has produced or co-produced more than 120 films and has distributed more than 160 of them in French cinemas. Since 1999, it has produced 10 of the 20 biggest French hits internationally and 22 films among the 70 French productions with the most international admissions (source: Le film français May 17, 2019). The Group has also been active since 2010 in the production of TV series and single titles for platforms worldwide.

EuropaCorp was created by the director, screenwriter and producer Luc Besson. More information on www.europacorp.com

Contacts

EuropaCorp Group NewCap

EuropaCorp is listed in Compartment C of Euronext Paris ISIN code: FR0010490920 – Ticker: ECP

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