- Revenues increase by 140% to EUR 21.2 million (H1/2022: EUR 8.8 million)
- Significant EBIT improvement to EUR -0.7 million (H1/2022: EUR -2.8 million)
- Establishment of AI subsidiary "STORYBOOK STUDIOS" in progress
Munich, 28 September 2023. PANTAFLIX AG (GSIN: A12UPJ; ISIN: DE000A12UPJ7) has successfully concluded the first half of 2023. As such, the entertainment company, which is currently in the process of transforming into an AI studio, was able to more than double its revenues to EUR 21.2 million (H1/2022: EUR 8.8 million) as a result of the completion of projects.
Total output, including other operating income, increased to EUR 21.2 million in the first half of 2023 (H1/2022: EUR 10.0 million). The significant increase is attributable to the successful realization of film and series projects. EBIT improved overall to EUR -0.7 million (H1/2022: EUR -2.8 million).
Cash and cash equivalents increased to EUR 17.6 million as of 30 June 2023 (31 December 2022: EUR 15.6 million) driven by realized productions and capital measures. Accordingly, equity amounted to EUR 2.1 million at the end of the first half of 2023 (31 December 2022: EUR 1.6 million). As a result, the equity ratio improved to 5.2% (31 December 2022: 3.0%).
Stephanie Schettler-Köhler, CEO of PANTAFLIX AG: „As an entertainment group with many years of expertise in the fields of film production and technology, we recognized early on that the possibilities of artificial intelligence will fundamentally change the entertainment industry. As one of the first production companies, PANTAFLIX Group made fundamental strategic decisions at a very early stage, embracing artificial intelligence in all aspects of our production activities. At our core, we will continue to focus on what we do best: the production of top-quality films and series in the high-end sector. The technologies and workflows currently emerging in our Company are opening up new perspectives and inspiring creativity that transcends the boundaries of traditional storytelling“.
Forecast for the financial year 2023 substantiated
In connection with the establishment of the AI film studio "STORYBOOK STUDIOS", a wholly-owned subsidiary of PANTAFLIX AG, as well as the comprehensive integration of artificial intelligence into all production processes of the entertainment company, PANTAFLIX AG decided after the end of the reporting period to terminate negotiations on the sale of its own Video-on-Demand-platform PANTAFLIX Technologies GmbH and to assess how the video streaming technology developed by PANTAFLIX Technologies GmbH can be integrated into the Group's AI activities to enable faster content marketing. In this context, the Management Board maintains its revenue forecast of EUR 29.5 million to EUR 33.5 million for the current financial year 2023 given the successful business development in the first half of the year, and substantiates its forecast for earnings before interest and taxes (EBIT) to EUR -3.7 million to EUR -3.0 million (previously: EUR -3.7 million to EUR -1.5 million).
The half-year report is available at www.pantaflixgroup.com.