EuropaCorp (ALECP) H2 23/24 earnings summary

Executive summary

• Achieved net profit of €0.9m, driven by catalogue activity, production relaunch, and reduced overheads.

• Annual revenue was €35.3m, down 6% year-over-year, mainly due to lower international sales.

• Operating profit reached €3.6m, maintaining a 10% margin, with significant savings in overheads.

• Positive net operating cash flow of €18.4m supported investments and debt repayments.

Financial highlights

• Revenue declined from €37.5m to €35.3m, with international sales dropping to €17.4m (49% of sales).

• TV & SVOD sales in France rose 18%, offsetting some international sales decline.

• Operating margin was €12.4m (35% of revenue), down from €17.3m (46%) due to higher film depreciation.

• Overheads reduced by €2.7m (-19%) to €11.2m, reflecting cost-saving measures.

• Net cash at year-end was €46.3m after investments and debt repayments.

Outlook and guidance

• Weekend in Taipei to be released in Q3 2024, with two additional films in production.

• Ongoing development of multiple film and series projects in English and French.

• Dracula and Hell in Paradise are currently shooting, expanding the upcoming line-up.