EUROPACORP (EPA:ECP) - Annual revenue FY 2020/2021

Transparency directive : regulatory news

26/05/2021 20:10

PRESS RELEASE

                          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 EUR41.5 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.

                HY2 and Annual Consolidated Revenue (unaudited)

In millions of EUR       Second half-year           12 months            Var.
                         HY2        HY2                              12 months
                      2020/2021  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%

The decline in revenue to EUR41.5 million (against EUR69.8 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 EUR12.1 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 EUR0.6 million for FY
2020/2021, or around 1% of total revenue, against EUR8.7 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 EUR1.3 million, versus EUR4.9 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
EUR19.0 million, or 46% of total revenue, versus EUR27.3 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 EUR5.6 million for FY 2020/2021, or 14%
of total revenue, against EUR6.0 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 EUR2.8 million
(including EUR0.6 million for post-production), or 7% of total turnover,
against EUR7.0 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
Lisa Reynaud / Relations Investisseurs / 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

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