EUROPACORP (EPA:ECP) - Priority strategic objectives

Transparency directive : regulatory news

24/11/2017 20:35

PRESS RELEASE

                        Priority strategic objectives

Saint-Denis, November 24th, 2017 - The Company has noticed various rumors in
the press concerning EuropaCorp and its strategic intentions to date. In
response to these market rumors, EuropaCorp reminds its priority strategic
objectives and specifies the scope of its current reflections.

The Company's strategy is primarily to refocus on core business: production of
English-language feature films of up to 2 to 3 films per year, production of
French-language feature films of 2 films per year, production of
English-language TV series, distribution of films and international sales.
These are the fundamentals which have made EuropaCorp's success.

Within this strategy, the Company is considering different options:

> Sale of non-strategic assets: the Company has already sold most of its
  non-strategic assets i.e. the Multiplexes activity (for around EUR20
  million), the catalogue of music rights (for around EUR15 million) and the
  French television activity (for EUR11 million), in the process of
  finalization. Following on from the sales already realized, the Company
  pursues its reflection on potential additional sales, circumscribed to all
  or part of the post-production activity and/or of the catalogue of films
  Roissy Films.

> Reduction of G&A expenses: by refocusing on its core business, the Company
  anticipates a decrease in overheads to a level more consistent with the
  volume of films and TV series activity.

> Reinforcement of financial strength: the Company has already increased its
  financial capability by realizing the above-mentioned sales and by the EUR60
  million capital increase to Fundamental group in November 2016. Given the
  cost of debt and maturity of its credit lines (October 2019 for the senior
  and April 2020 for the secondary), the Company is carrying out an in-depth
  reflection on a potential recapitalization and/or a restructuring or
  refinancing of its debts. The Company reckons that the perspectives offered
  by the strategic reorientation, the resources cleared by the sales of assets
  and the reduction of overheads, represent an attractive opportunity for
  potential financial and/or business partners.

These reflections are still preliminary at this stage and no concrete
transaction can be announced. The Company will keep the market informed of the
evolution of the potential sales and of the results of its reflection on its
financial structure.

ABOUT EUROPACORP
Founded in 1999, EuropaCorp has become one of Europe's leading film and
television studios.
The company's global activities span the entire film value chain with expertise
in production, theatrical distribution, video and VOD sales, international
sales, soundtrack publishing, and television sales. By directly managing the
production and distribution process, EuropaCorp is able to maintain quality and
creativity throughout the lifecycle of a film or television project. The
company has produced or coproduced over 110 films, distributed nearly 160 films
in French cinemas, and owns a catalogue of more than 500 French and English
language titles. Since 2000, the company has produced 8 of France's 20 highest
grossing films based on worldwide box-office. Starting in 2010, the company has
been active in producing television movies and episodic television series for
platforms around the world.
EuropaCorp was founded by French director, screenwriter and producer Luc
Besson.
For more information, go to www.europacorp-corporate.com

Contacts

EuropaCorp Group
Lisa Reynaud / Investor relations / investors@europacorp.com
Régis Lefèbvre / Communication / rlefebvre@europacorp.com
Tel: 01 55 99 50 00

NewCap
Pierre Laurent / NewCap
plaurent@newcap.fr / Tel : 01 44 71 94 94

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

EUROPACORP's latest news

14/02/2024 19:30

EUROPACORP (EPA:ECP) - Priority strategic objectives

Transparency directive : regulatory news

EUROPACORP's latest news

Other stories