- Revenues increase to EUR 14.5 million (H1/2018: EUR 13.8 million)
- EBITDA significantly increased to EUR minus 1.1 million (H1/2018: EUR minus 3.1 million)
- Solid financial resources: cash and cash equivalents of EUR 9.1 million
- AVoD offer to start beta phase already in fourth quarter of 2019
Munich, September 26, 2019. PANTAFLIX AG (GSIN: A12UPJ, ISIN: DE000A12UPJ7) today publishes its half-year report 2019. In the first half of the year, the media and technology company was able to achieve major milestones in the development of new revenues potential and significantly improved its results compared to the previous year with a new revenue record.
The PANTAFLIX Group generated revenues of EUR 14.5 million in the first half of 2019 (H1/2018: EUR 13.8 million), which is the highest revenue ever achieved in a first half of the year. Total output plus other operating income fell as planned in the reporting period to EUR 7.3 million after EUR 8.1 million in the first half of 2018. Due to the completion of contract production, inventories of completed and unfinished products – and thus total output – decreased. Earnings before interest, taxes, depreciation and amortization (EBITDA) improved to EUR minus 1.1 million in the reporting period after EUR minus 3.1 million in the previous year. With cash and cash equivalents of EUR 9.1 million at the end of the first half of 2019, the PANTAFLIX Group continues to see itself solidly positioned and in a position to finance its expansion plans at any time.
The focus of business activities in the first half of 2019 was primarily on the expansion of the corporate strategy and the associated identification of more target markets in the streaming sector. With Thilo Schlüter (COO) and Manuel Uhlitzsch, two proven digital and media experts as well as experienced business developers have been on board since spring 2019 to significantly advance the strategy expansion and the measures to establish the VoD-Plattform www.pantaflix.com in the area of professional users.
In addition to the further expansion of video-on-demand and its diversification through a broad range of premium content and flexible access channels, an additional focus in the current financial year will be on the further scaling of successful in-house productions in the film and series sector. This will go together with the increasing internationalization of production activities and greater integration of all Group divisions along the value chain. First steps to efficiently develop new revenue potentials were already identified in the first half of 2019. They address the product range as well as other channels of access to the VoD platform, such as the SVoD subscription model and an AVoD model financed by advertising. Sooner than expected, on 11 October 2019, the beta phase of the AVoD offer will celebrate its premiere at the same time as the launch of KRASS KLASSENFAHRT. Subsequently, seasons 4 and 5 of the successful YouTube series format of the social media stars Jonas Ems and Jonas Wuttke will be published exclusively on pantaflix.com. Through YouTube, there will be an additional time-shifted secondary exploitation.
In the production business, the pipeline is filled with numerous projects. With ABIKALYPSE, DEM HORIZONT SO NAH (SO NEAR THE HORIZON) and AUERHAUS, three productions will be released in cinemas in 2019. With the six-part series DAS LETZTE WORT (THE LAST WORD), the PANTAFLIX subsidiary PANTALEON Films is realizing a series production for the first time for the US streaming service Netflix (GSIN: 552484, ISIN: US64110L1061). The already realized productions RESISTANCE and DAS LETZTE WORT underline the ambition to offer high-quality German productions for an international audience.
"We consider the current 2019 financial year to be a year of new beginnings on the path to sustainable growth. After the record year 2018, we at PANTALEON Films GmbH are again striving for new records in film and series projects for 2020. At the same time, our strategy expansion of the video-on-demand business at PANTAFLIX Technologies GmbH is proceeding faster than planned. The platform pantaflix.com will be able to offer viewers in Germany the first commercially financed films and series (AVoD) already this year. Despite increased expenses, mostly related to the expansion of the VoD offering, we expect a significant sequential improvement in results in the second half of 2019. Overall, we are very optimistic that with our expanded VoD strategy and the targeted record year 2020 for film and series productions, we will be able to profit sustainably from the dynamic development of the media market," says PANTAFLIX CEO, Nicolas Paalzow.
The Management Board confirms its forecasts for the 2019 financial year and expects a slight increase in revenues for the PANTAFLIX Group based on the current project planning. Since postponements of projects within the film sector can never be completely ruled out, a fluctuation of revenues at a group level in the mid to high single-digit million range is nevertheless possible. Regardless of such shifts and increased expenses, especially for marketing, sales and technology, the forecast expects a significant improvement in the operating result (EBIT) compared to the previous year.
The half-year report 2019 is available in the Investor Relations section www.pantaflixgroup.com ready for download.