PANTAFLIX AG
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
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 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 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 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 PANTAFLIX Media Relations
10.12.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
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 |
End of News | DGAP News Service |