(AOF) – In the first six months ended September, EuropCorp suffered a net loss, group share, of 22.7 million euros compared to a loss of 88.9 million euros a year earlier. The first half of the previous financial year, which had been marked by exceptional depreciations for 80.7 million euros, relating in particular to the film distribution tool in the United States. The consolidated operating margin was 13.2 million euros (an operating margin rate of 32%), compared to 9.4 million euros (or 12% of sales) a year earlier.
“This profit margin is mainly explained by a high level of margin on the exploitation of the catalog,” explained the producer and distributor of cinematographic works and television series.
Turnover was halved at 40.7 million euros.
Cash flow generated by operations over the half-year amounted to 10.8 million euros compared to 35.6 million euros in the first half of the previous year. This decrease is notably linked to a concentration of receipts of cinema receipts in the first month of the 2nd half of 2019/2020 and to a limited number of films released in France and / or delivered internationally during the 1st half of the year. 2019/2020.
Considering the restructuring operations in progress, there was almost no investment during the period.
As of September 30, 2019, net debt amounted to 164 million euros compared to 221 million euros, a year earlier. This drop in net debt compared to the first half of 2018/2019 is notably linked to the reimbursement of production debts.
Regarding its prospects, the company indicates that it will, in due time, provide market information on the outcome of discussions with its creditors and the safeguard procedure in progress.
Given, in particular, the loss observed in the first half, EuropaCorp will experience a 2019/2020 financial year in deficit.
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Hotel and leisure
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