Studio Babelsberg announces the financial figures of the fiscal year 2008. The Studio Babelsberg Group achieved a turnover amounting to EUR65.9M and a result after taxes amounting to EUR3M. The overall performance amounts to €93M, as in the previous year. The Studio Babelsberg AG (Individual Financial Statement) earned a positive result after taxes in the amount of EUR3.5M.
In the fiscal year 2008, the annual net profit was influenced by special factors. The group’s annual net profit was lower than the individual result of Studio Babelsberg AG and bases on the elimination of the unrealized profit of current film productions. These profit margins will not be effective until the completion of the films in 2009.
Despite the positive figures of 2008, the board of direc¬tors and the board of supervisors decided to propose at the shareholder's meeting a dividend payment of EUR0.10 per share. Thus, the dividend would be reduced by EUR0.10 compared to the dividend of the record year 2007, but it would be situated at the same level of the previous years 2005 and 2006. With the capital thus remaining within the company, Studio Babelsberg intends to secure the realization of future business activities. The decision relies on the currently fierce finance market conditions worldwide. The dividend continues to derive from our tax deposit account and can thus be paid without tax deductions.
In total, seven productions were realized at Studio Babelsberg in 2008. Especially the Warner Bros. / Silver Pictures / Dark Castle Production Ninja Assassin bestowed an appropriate order situation on the business units Studio Babelsberg Motion Pictures, Art Department Studio Babelsberg and on our rental houses. Beside the strategic alliance made up in 2008 with Joel Silver, Studio Babelsberg intends to co-operate with further internationally orientated producers. With this co-production strategy we are aiming not only at the workload aspect for the studio lot, but also at the possible profit share from worldwide film distribution. Despite difficult conditions in the overall economy and the international film production business, from the present-day perspective Studio Babelsberg is expecting an altogether positive development for 2009.
The Annual Report 2008 as well as the agenda of the shareholders’ meeting, are available for download on www.studiobabelsberg.com
