Press release
Neuilly-sur-Seine,
The Gaumont Board of Directors, which met today under the chairmanship of
CONSOLIDATED HALF-YEAR RESULTS as of
Key figures from operations (in millions of euros) | Change | |||
Consolidated revenue | 69.9 | 47.4 | 47% | |
Income from production and distribution before overheads | 18.3 | 8.0 | 129% | |
Consolidated income attributable to owners of the parent | -5.9 | -18.1 | 67% | |
Investments | 41.8 | 71.1 | -41% | |
Key balance sheet figures (in millions of euros) | Change | |||
Equity attributable to owners of the parent | 219.7 | 230.2 | -5% | |
Net borrowings2 | -10.6 | 30.4 | n/a | |
1 The limited review procedures have been carried out and the statutory auditors’ report on the half-yearly financial information is currently being prepared. | ||||
2 Excluding IFRS 16 debt |
The first half of 2020 saw the declaration of a health emergency in
This resulted in an adjustment to the movie release schedule and a postponed delivery of the Group’s productions, the effects of which will be apparent in the second half of 2020.
No projects under way at the start of the health crisis were permanently shelved, and operations resumed at the end of the first half-year. Since March,
n REVENUE FOR THE FIRST HALF OF 2020
Consolidated revenue for the first half of 2020 amounted to €69.9 million, versus €47.4 million as of
- Cinema production
Revenue for the movie production and distribution business amounted to €38.2 million as of
Revenue from the release of films in French movie theaters stood at €3.1 million as of
Revenue from video distribution and video on demand in
Revenue related to sales of broadcasting rights to French television channels amounted to €21.2 million as of
Revenue from film sales outside
- Television production
Revenue for the television production and distribution business amounted to €29.6 million as of
During the first half of 2020, Season 4 of F is for Family was delivered to Netflix in
Revenue as of
n RESULTS FOR THE FIRST HALF OF 2020
Consolidated income attributable to owners of the
Income from the production and distribution of feature films stood at €15.1 million in the first half of 2020, compared with €7.0 million in the first half of 2019. This increase is primarily due to the distribution of the movie catalog, mainly sold to French television channels.
Income from the television production and distribution business amounted to €3.2 million in the first half of 2020, against €1.0 million as of
Revenue before overheads from the holding and real estate businesses totaled €0.8 million as of
Overheads, including general financing costs, totaled €24.4 million in the first half of 2020, compared with €26.9 million as of
n CHANGE IN FINANCIAL STRUCTURE IN THE FIRST HALF OF 2020
The impact of the health crisis has been analyzed and no evidence of impairment of the group’s assets has been identified.
Movie investment came in at €5.5 million in the first half of 2020, compared with €14.6 million in the first half of 2019. Television investment totaled €36.2 million in the first half of 2020, compared with €56.5 million in the same period of 2019. The interruption of filming due to the health crisis, particularly on Season 3 of Narcos Mexico, led to a decrease in investments during the period of around €20.0 million. These investments will be carried forward to future periods as business returns to normal.
In
n RECENT EVENTS AND OUTLOOK
The outlook for movie releases in theaters and deliveries of titles in 2020 has changed due to the closure of movie theaters to the public in
One film has been released in theaters since
- Simply Black, directed by
Jean-Pascal Zadi andJohn Wax , starringJean-Pascal Zadi and Fary. Released onJuly 8 , the film has sold more than 740,000 tickets.
Three films are due to be released in theaters by
- Bye Bye Morons, directed by Albert Dupontel, starring Virginie Efira, Albert Dupontel and Nicolas Marié;
- Aline, the Voice of Love, directed by
Valérie Lemercier , starringValérie Lemercier ,Sylvain Marcel , Arnaud Préchac andMichel Drucker ; - Vicky and her Mystery, directed by
Denis Imbert , starringVincent Elbaz ,Shanna Keil ,Marie Gillain and Eric Elmosnino.
Four films originally slated for release in 2020 are now scheduled for 2021.
The following titles are due to be delivered in the second half of 2020:
- French productions:
Bronx , a feature film directed byOlivier Marchal , to Netflix; The Art of Crime Season 4, toFrance 2; Move, to Netflix. - US production: Trial 4, to Netflix.
- German production: The Barbarians, to Netflix.
UK production:Tin Star , Season 3, to Sky Atlantic.
The delivery of five drama series and one kids’ animated series, originally scheduled for 2020, has been postponed until 2021.
This line up remains subject to the evolution of the epidemics over the upcoming months.
n DATES OF NEXT FINANCIAL COMMUNICATION
A press release on the full-year consolidated results as of
APPENDIX: Half-year consolidated revenue
Consolidated revenue by business segment (in millions of euros) | % change | ||
Cinema production | 38.2 | 34.5 | 11% |
Movie theaters | 3.1 | 7.4 | -57% |
Video | 1.4 | 3.1 | -55% |
Video on demand | 2.7 | 1.2 | 125% |
Television | 21.2 | 9.9 | 114% |
International films | 7.6 | 10.6 | -29% |
Other movie distribution income 1 | 2.2 | 2.3 | -6% |
Television production | 29.6 | 10.5 | 181% |
American dramas | 19.2 | 1.8 | 948% |
French and European dramas | 7.5 | 5.8 | 31% |
Animated films and series | 2.9 | 2.9 | -2% |
Trademark royalties | 0.7 | 1.3 | -44% |
Other miscellaneous income 2 | 1.4 | 1.2 | 24% |
GAUMONT GROUP | 69.9 | 47.4 | 47% |
1 Primarily includes spin-off products, music publishing and the GP Archives business | |||
2 Primarily includes real estate rentals and miscellaneous services provided to third parties |
Attachment
- PDF Copy
© OMX, source