PANTAFLIX AG conducts Annual General Meeting 2020 - Digitalization boost results in increasing demand for PANTAFLIX technology by B2B customers
DGAP-News: PANTAFLIX AG / Key word(s): AGM/EGM
10.12.2020 / 15:17
The issuer is solely responsible for the content of this announcement.*PANTAFLIX AG conducts Annual General Meeting 2020 - Digitalization boost results in increasing demand for PANTAFLIX technology by B2B customers*
-* *Coronavirus pandemic in filmmaking so far controllable
- Four cinema releases and one Netflix production planned for 2021
- Further B2B customers choose PANTAFLIX technology to digitalize their business models
*Munich, December 10, 2020.* PANTAFLIX AG (GSIN: A12UPJ, ISIN: DE000A12UPJ7) successfully held its annual general meeting 2020 today. Due to the restrictions on mobility and assembly in the wake of the COVID-19 pandemic, the Annual General Meeting was held as a solely virtual event for the safety of all participants. The shareholders discharged the members of the Management Board and the Supervisory Board for the 2019 fiscal year, with 66.12% of the voting rights present.
Nicolas Paalzow, Chairman of the Management Board of PANTAFLIX AG, discussed in his speech the developments in the past and current financial year and specified the strategy in the context of the coronavirus pandemic. The measures taken by health authorities to contain the virus have had far-reaching consequences for the media industry in general and in particular for PANTAFLIX.
*Output remains strong despite lockdown*
The Management responded with a clearly defined catalog of measures which included home office, short-time working, adjusted liquidity management, and the use of government aid. The initially postponed films and series projects were resumed promptly and most of them have already been successfully completed. While four film productions were released in 2019, namely TRAUMFABRIK, ABIKALYPSE, DEM HORIZONT SO NAH, and AUERHAUS, three productions have been released in 2020 despite challenging circumstances. In addition to the successful series MAPA, in cooperation with Readymade Films, for streaming provider Joyn, a family movie, the PANTALEON Films production TAKEOVER - VOLL VERTAUSCHT, was released in cinemas. The series DAS LETZTE WORT for the streaming provider Netflix followed in September. For 2021, the cinema releases of RESISTANCE, GENERATION BEZIEHUNGSUNFÄHIG, OSKARS KLEID, and WOLKE UNTERM DACH are currently planned. The production release of ARMY OF THE DEAD - MEANWHILE IN GERMANY by and with Matthias Schweighöfer for Netflix is also scheduled for 2021.
On the production side, things have also been progressing at PANTAFLIX Studios. In 2020, the team realized the series DAS INTERNAT for the streaming provider Joyn. In the meantime, the series HYPED is being planned.
The subsidiary and creative agency Creative Cosmos 15 (CC15) saw a change of the Management in November 2020. Nico Buchholz has taken over the functions of Nicolas Paalzow at the head of CC15. Buchholz has been developing high-reach, innovative and precisely tailored campaigns for Mercedes-Benz and most recently XXXLutz with a high level of implementation competence. In his role as Managing Director, Nico Buchholz will put his unmistakable and stylish signature even more strongly at the service of CC15 and at the same time further expand its market position.
*Increasing number of business customers choose PANTAFLIX technology *
The new normal of the media industry is mainly characterized by a strong surge in digitalization. More and more professional users are turning to digital entertainment. PANTAFLIX has positioned itself in this area at an early stage with its streaming platform technology and is benefiting from the advancing digitalization in the business customer segment. In addition to the German Film Prize and the bookstore company Weltbild, several film festivals as well as Airbus and the German Armed Forces already use PANTAFLIX technology for their streaming offerings. Nicolas Paalzow indicated further deals of this kind. In the future, PANTAFLIX will increasingly pursue its hybrid business model and continue to advance into the B2B sector.
In order to be able to pursue its growth strategy with adequate financial flexibility, PANTAFLIX carried out a cash capital increase from authorized capital at the beginning of November 2020. As a result of the ten percent increase in share capital, the company received a cash inflow of around EUR 1.7 million. The new share capital of the company amounts to EUR 16,910,355.00.
In his speech, Nicolas Paalzow also confirmed the forecast for the 2020 financial year. The Management Board expects a significant decline in revenues for fiscal year 2020 due to the COVID-19 pandemic. However, thanks to many efficiency and optimization measures, a significant improvement in the operating result (EBIT), expected negative also for 2020, is forecasted. This should also be reflected in the cash flow from operating activities. Overall, the revenue expectations for fiscal years 2020 and 2021 have not changed when considered jointly. The postponements in 2020 due to the pandemic have the potential to lead to an exceptionally strong fiscal year 2021. With regard to COVID-19, time shifts cannot be ruled out for projects within the film sector, which could result in a variation in revenues in the mid to high single-digit million range.
"Our challenge is our opportunity. The new normality makes exciting business models and cooperations possible. We want to shape this development with our productions and our technology. We have already set the stage for this. The balance sheet has been strengthened, the focus on expanding content business is progressing dynamically and we are increasingly establishing ourselves as a strategic partner for business customers in the digital business. Overall, this makes us look to the future with confidence," commented CEO Nicolas Paalzow.
The voting results of the 2020 Annual General Meeting are available for download in the Investor Relations section of the company website pantaflixgroup.com.
*About PANTAFLIX AG:*
PANTAFLIX AG (GSIN: A12UPJ, ISIN: DE000A12UPJ7) is a media and technology company with a clear growth strategy. Through the efficient integration of all Group divisions, the company achieves a high degree of integration with regard to the production, distribution, exploitation and marketing of films and series as well as their rights. In addition to the classic film production business PANTALEON Films, the music label PantaSounds, the production unit PANTAFLIX Studios and the creative agency Creative Cosmos 15 the cloud-based video-on-demand platform (VoD) PANTAFLIX is also part of the Group. The VoD-platform focusses on providing users with a tailor-made premium content offering via all relevant access channels.
PANTAFLIX AG cooperates with renowned partners such as Amazon, Disney, Netflix, StudioCanal, Warner Bros. and others. The Group is represented in Berlin, Cologne and Munich.
Further information is available at www.pantaflixgroup.com und www.pantaflix.com.
*PANTAFLIX Investor Relations*
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Tel.: +49 (0)89 1250903-30
E-Mail: sh@crossalliance.de
Website: crossalliance.de
*PANTAFLIX Media Relations*
CROSS ALLIANCE communication GmbH
Jens Jüttner
Tel.: +49 (0)89 1250903-30
E-Mail: jj@crossalliance.de
Website: crossalliance.de
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10.12.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Language: English
Company: PANTAFLIX AG
Holzstraße 30
80469 Munich
Germany
Phone: +49 89 2323 85 50
Fax: +49 89 2323 85 519
E-mail: ir@pantaflix.com
Internet: www.pantaflixgroup.com
ISIN: DE000A12UPJ7
WKN: A12UPJ
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange; BX
EQS News ID: 1154341
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