- COVID-19-related revenue of EUR 7.8 million (2019: EUR 28.7 million)
- EBIT improved to EUR -7.1 million (2019: EUR -8.6 million)
- Solid financial position for further growth (cash and cash equivalents: EUR 7.2 million)
- Forecast for 2021: substantial jump in turnover to at least EUR 30 million and significant improvement in EBIT to EUR -2.5 million by break-even expected
Munich, 24 June 2021. PANTAFLIX AG (GSIN: A12UPJ; ISIN: DE000A12UPJ7) has closed the 2020 financial year marked by the COVID 19 pandemic with a robust development in view of the adverse circumstances. The company is looking at a significantly brightening environment. Far-reaching relaxations of mobility and assembly restrictions are simplifying production conditions. In addition, the opening perspective of the cinemas as well as the vital streaming market creates the basis for a significantly positive business year 2021. Due to the improved environment, PANTAFLIX expects a noticeable upturn in the industry as a whole and a significant increase in sales at company level, with the expected leap in growth being based, among other things, on the projects postponed to the 2021 financial year, including three cinema productions that have already been shot.
The pandemic still had a firm grip on the past 2020 financial year. PANTAFLIX AG's revenue of EUR 7.8 million was significantly below that of the previous year (2019: EUR 28.7 million). The early adaptation of the new environment provided noticeable relief on the earnings side. Thus, earnings before interest and taxes improved to EUR -7.1 million after EUR -8.6 million in the previous year, despite the pandemic-related decline in turnover. With EUR 7.2 million in cash and cash equivalents (31 December 2019: EUR 7.2 million), the PANTAFLIX Group has a solid financial basis to pursue its growth strategy with the necessary financial flexibility.
Adhering to strict hygiene standards and health protection measures, the film production subsidiary PANTALEON Films laid the foundation for a significant jump in sales in the 2021 financial year with three completed cinema productions in 2020 (GENERATION BEZIEHUNGSUNFÄHIG, WOLKE UNTERM DACH, OSKARS KLEID). For Netflix, PANTALEON Films also shot the prequel to Zack Snyder's ARMY OF THE DEAD entitled ARMY OF THIEVES - by and with Matthias Schweighöfer.
In addition to the further stringent development and expansion of the video-on-demand area, the focus of the PANTAFLIX Group in 2021 and the following years will be on the continuous scaling of the production of promising films and series not only in the cinema market but also in the VoD area. This has received an additional growth impulse from the pandemic.
In the video-on-demand (VoD) business area, PANTAFLIX is increasingly successful in establishing itself on the market as a streaming solution for professional users. The demand for state-of-the-art video streaming solutions is increasing significantly, continuously and across industries. For this purpose, the cloud-based VoD platform PANTAFLIX offers filmmakers as well as business customers unique access to the media market to offer content or to use PANTAFLIX technology as part of a white-label solution for their own offering. For this purpose, the group subsidiary PANTAFLIX Technologies has established an innovative Entertainment-as-a-Service approach for professional users who want to digitise and/or broaden their business model. Numerous well-known customers already rely on PANTAFLIX as a reliable streaming solution and PANTAFLIX Technologies as a technology partner. These include the Süddeutsche Zeitung with the SZ-Cinemathek, the book retailer Weltbild as well as Airbus and the German Armed Forces and numerous film festivals.
"We responded swiftly and consistently to the extraordinary conditions of the Corona pandemic and successfully steered PANTAFLIX AG through the Corona crisis, given the circumstances. We implemented efficiency and cost optimisation measures, secured our financing base and at the same time exploited the business opportunity potential in each individual business area of this special year. The overall performance of the past financial year clearly underlines this. With our Entertainment-as-a-Service offering, we are meeting with increased interest across industry boundaries. The simultaneous opening perspective of the cinemas and our strong positioning reinforces our view that we will be able to make the 2021 financial year very successful," says PANTAFLIX CEO Nicolas Paalzow.
According to current project planning for the PANTAFLIX Group, the Management Board expects a significant year-on-year increase in revenue to at least EUR 30 million (2020: EUR 7.8 million) for the 2021 financial year. At the same time, EBIT is expected to improve significantly to a level of EUR -2.5 million up to the operating break-even point (2020: EUR -7.1 million). These expectations are subject to further pandemic developments.
The 2020 Annual Report is available for download at pantaflixgroup.com.
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