For the first half of the current year, Pantaflix reports a decline in sales from 14.5 million euros to 4.9 million euros. The background was pandemic-related delays in film projects, the media company said on Thursday. “In the course of the official orders to contain the virus, work on film projects had to be interrupted and postponed,” reports Pantaflix. On an EBITDA basis, the Munich company’s operating loss increased from 1.1 million euros to 3.3 million euros, while the loss before interest and taxes was reduced from 6.3 million euros to 4.3 million euros. The company puts the liquid funds at 3.6 million euros – this gives the company “sufficient financial leeway to realize its strategic goals,” it says.
For the year as a whole, Pantaflix is forecasting a significant decline in sales, which is attributed to the effects of the corona pandemic. “Due to various efficiency and optimization measures, a significant improvement in the negative operating result (EBIT) expected in 2020 is expected,” the company continues. This should also be noticeable in the cash flow. When viewed together, the sales expectations for 2020 and 2021 remain unchanged. The corona-related postponements could lead to catch-up effects in 2021. Depending on the course of the delays in film projects, sales can vary in the mid to high single-digit million range, announced Pantaflix.
At a glance – chart and news: Pantaflix AG