- Revenues almost doubled to EUR 35.4 million (2022: EUR 19.7 million)
- EBIT improvement driven by revenue and cost savings at EUR -3.6 million (2022:
EUR -7.9 million) - Technological breakthroughs from Storybook Studios will drive growth in the production business and strengthen competitive position
Munich, 22 April 2024. PANTAFLIX AG (Xetra-Symbol: PAL; ISIN: DE000A12UPJ7) has successfully played to its strengths in the 2023 financial year by focusing on its core business in film and series production and expanding the position of its subsidiary Storybook Studios as a pioneer in the use of artificial intelligence.
Stephanie Schettler-Köhler, CEO of PANTAFLIX AG: „Focusing on our core business in film and series production has proven to be a smart decision that enabled us to achieve considerable success in this area. In an ever-changing market, we have found it essential to concentrate on what we do best. This specialization has made us more competitive.“
Revenues increased to EUR 35.4 million in the 2023 financial year (forecast: EUR 29.5 million to EUR 33.5 million; 2022: EUR 19.7 million). Growth was driven in particular by the eight-part thriller series UNWANTED produced with Sky Studios Original, the cinema drama comedy 791 KM, and the partial realization of revenues from the anti-war film THE TIGER (working title), which is currently in post-production. Total operating revenue including other operating income increased to EUR 37.1 million (2022: EUR 23.2 million). As a result of the increase in revenues and simultaneous cost savings, earnings before interest and taxes (EBIT) improved in line with the forecast to EUR -3.6 million (forecast: EUR -3.7 million to EUR -3.0 million; 2022: EUR -7.9 million). With the increase in equity to EUR 2.1 million (December 31, 2022: EUR 1.6 million), mainly through capital measures, the equity ratio improved to 6.2% by the end of the 2023 financial year (December 31, 2022: 3.0%).
With its strategy for the use of artificial intelligence in film and series production presented in the past financial year 2023, PANTAFLIX has achieved technological breakthroughs through its subsidiary Storybook Studios. Artificial intelligence offers PANTAFLIX the opportunity to produce creative content faster, more efficiently, and more cost-effectively. In 2024, Storybook Studios will focus on implementing its first projects. The latest developments from Storybook Studios provide more than just a first impression.
Stephanie Schettler-Köhler continues: „The use of artificial intelligence marks a revolutionary step in film and series production. By using artificial intelligence, we are not only able to significantly shorten production times but also create more varied and appealing content globally that is tailored to a wide variety of audience segments. The lower production costs also allow us to retain the rights to our productions. This is a key advantage as it gives us greater control over the distribution and monetization of our works. Our subsidiary Storybook Studios GmbH is at the forefront of this innovation and opens the door to a world of new creative potential. We expect to gain a significant competitive advantage and consolidate our position as market leader.“
For the 2024 financial year, the Management Board of PANTAFLIX Group expects revenues of between EUR 3 million and EUR 4.5 million based on current project planning. Total operating revenue plus other operating income will amount to at least EUR 4 million in 2024. Given the lower costs resulting from the focus on the established production business for film and series projects, the Management Board expects earnings before interest and taxes (EBIT) to remain at the previous year's level of between EUR -4 million and EUR -2.5 million even though revenue will be lower. The lower revenue expectation compared to the previous year is attributable to the fact that film and series projects in production in the 2024 financial year will not be recognized in revenue until the following year 2025 given the scheduled production duration and/or the planned production period. For 2025, the Management Board is again planning for an increase in revenue to around the level of the 2022 financial year of around EUR 21 million and a balanced EBIT.
Webcast/Conference Call:
Stephanie Schettler-Köhler, CEO of PANTAFLIX AG, will explain the results of the 2023 financial year and the outlook for 2024 in a webcast presentation tomorrow, 23 April 2024, at 11:00 CEST. The presentation will be held in German.
Please register in good time for participation at PANTAFLIX Financial Year 2023 – Webcast/Conference Call.
The Annual Report 2023 of PANTAFLIX AG is available on the company website at www.pantaflixgroup.com.