(AOF) – EuropaCorp reached an operating margin of 3.7 million euros (i.e. 28% of turnover compared to 51% a year ago), down “due to sales costs generated by fresh films more important than those linked to catalog films. The producer posted a positive operating result of 1.1 million euros, “thanks to the further reduction in overheads” (-1.6 million euros or -24%) and an exceptional result of 2.3 million euros. The cash flows generated by the activity amounted to 8.2 million euros, the same amount as a year ago.
The net result reached 100,000 euros compared to 700,000 euros a year ago. The producer notably accuses “limited entries in France for Dogman released on September 27”.
The turnover of 13.4 million euros is up 2% compared to the first half of the previous financial year, with better TV/SVOD sales in France (+1.4 million euros) ” offset by lower international royalties received than during the half of the previous financial year.
For the future, EuropaCorp is counting on the film provisionally titled “Weekend Escape Project”, directed by George Huang, which “is in line with EuropaCorp action films such as Taken, Transporter, From Paris with Love, Danny the Dog” and is expected to hit theaters in spring 2024.
The studio also counts on the co-development / co-production agreement signed for the series adaptation of one of its biggest hits, Lucy, with the company Village Roadshow based in Los Angeles.
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Find out more about the “hospitality and leisure” sector
Global tourism still on the rise
Over the first nine months of 2022, 700 million tourists traveled internationally, more than double (+133%) the figure recorded for the same period in 2021. This figure reached 63% of 2019 levels , which should allow the sector to reach 65% of its pre-pandemic levels in 2022. This result is due to a high level of demand and the gradual lifting of restrictions in a large number of countries. Europe is significantly supporting this rebound with the arrival of 477 million people between January and September 2022 (68% of the global total), reaching 81% of the pre-covid level. Tourism there is driven by strong intra-regional demand and travel from the United States. Some destinations saw notable increases in revenue, including Serbia, Romania, Turkey, Latvia, Portugal, Pakistan, Mexico, Morocco and France.