(AOF) – EuropaCorp recorded a net profit of 0.9 million euros for the 2023/2024 financial year, ended at the end of March, compared to a profit of 0.1 million euros, a year earlier. In one year, the film studio’s operating profit increased from 3.9 million euros to 3.6 million euros, a margin of 10% like last year. Consolidated turnover fell by 6% to 35.3 million euros. Overhead costs amounted to 11.2 million euros, a saving of 2.7 million euros over one year.
The drop is essentially linked to rent savings following the move of EuropaCorp’s head office to Paris, to those in salaries of the post-production subsidiary sold in September 2022, as well as the reduction in consulting costs.
Net operating cash flows are positive at 18.4 million euros “enabling the group to finance its investments and the deadlines of the safeguard plan while maintaining a high level of cash flow”, said EuropaCorp. Net cash at closing represents 46.3 million euros. As of March 31, 2024, net debt amounts to 24.9 million euros compared to 22.2 million euros as of March 31, 2023.
Regarding the upcoming “line-up”, an English-language film will be released in theaters in the third quarter of 2024, and two others are currently filming.
