PANTAFLIX AG
DGAP-Ad-hoc: PANTAFLIX AG / Key word(s): Forecast PANTAFLIX expects negative impacts of the corona pandemic, a specific outlook for the 2020 financial year is consequently not possible at present Munich, March 30, 2020. PANTAFLIX AG (GSIN: A12UPJ, ISIN: DE000A12UPJ7), due to the corona pandemic, has needed to interrupt all filming activities on official order and, respectively, postpone further projects in planning for an indefinite period of time. The temporary interruption of production relates to one film production in progress and two film productions which have been in preparation. It is planned to resume shooting as soon as possible, although the timing will depend on the further course of the pandemic and its impact on economic and social life. PANTAFLIX AG also expects possible delays in further productions planned for the 2020 financial year. Therefore, the Company has applied for short-time working for a large number of employees starting April 1, 2020, in view of the expected loss of working hours and to protect the employees. Simultaneously, the use of all available governmental assistance measures at federal and state levels has been examined and in some cases already applied for. By doing so, the Company intends to secure its business operations in the long term and to prepare for the restoration of its operations after the restrictions imposed in the course of the pandemic have expired. Against this background, the Executive Board and Supervisory Board of PANTAFLIX AG today discussed the status and outlook as well as the courses of action and decided on a strategic evaluation process for a further sustainable optimization of the Company. This evaluation may have an impact on the current structure of the Company, up to and including a spin-off and possible sale or partial sale of individual business units. The corona pandemic will have adverse effects on the business activities of PANTAFLIX AG. At the present time, no reliable information can be provided concerning the duration or the extent of these adverse effects. PANTAFLIX AG will publish its financial figures for 2019 in June 2020 and then provide an assessment of the impacts of the corona pandemic. Investor Relations
30-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | PANTAFLIX AG |
| Holzstraße 30 | |
| 80469 Munich | |
| Germany | |
| Phone: | +49 89 2323 85 50 |
| Fax: | +49 89 2323 85 519 |
| E-mail: | ir@pantaflix.com; i.burkhardt@pantaflix.com |
| Internet: | www.pantaflixgroup.com |
| ISIN: | DE000A12UPJ7 |
| WKN: | A12UPJ |
| Indices: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange; BX |
| EQS News ID: | 1010539 |
| End of Announcement | DGAP News Service |
1010539 30-March-2020 CET/CEST
