At today’s shareholders meeting of Studio Babelsberg AG in Potsdam-Babelsberg, the Board of Directors confirmed a very positive result for the 2007 financial year. The shareholders will receive a dividend payout of € 0.20 per share, which represents a doubling of dividends compared to the previous year.
The dividend payout is based on the very positive development with respect to turnover and earnings in the past financial year. Studio Babelsberg Group revenues increased in the 2007 financial year to € 87.1 million (2006: € 16.6 million / accounting according to German Commercial Code – HGB), and the Group annual net profit after tax was € 6 million (previous year: - € 2.7 million). 2007 thus marks the most successful business year since the company's privatisation in 1992.
Administratively, all agenda items were adopted by the shareholders present. Dr. Roland Folz was elected as a new member of the Supervisory Board and Mr. Stefan von Moers stepped down from his office as Chairman of the Supervisory Board. The Board of Directors thanks Stefan von Moers for his dedicated overseeing of the development of the organisation and for the fulfilment of his legal obligations in the supervisory body.
2007: Implementation of the core business
The re-orientation initiated by Studio Babelsberg in 2004 has now proven to be a complete success. In particular the twelve film productions realised in 2007, and the associated increased utilisation of production capacities, have led to this positive outcome. Studio Babelsberg has focused on its core business and established itself as a professional service provider in the international film industry. Studio Babelsberg Motion Pictures was assigned the production service for six international feature film productions, including The Bourne Ultimatum, ValkyrieandThe International. Studio Babelsberg’s art department was responsible for the set construction of a total of 43 feature films and TV productions. The equipment and furnishings team (costume/make-up studio & props room) provided their services to a total of 385 projects. In addition, Studio Babelsberg was involved in nine of twelve productions as co-producer.
Outlook
We expect a positive business environment in the future and the current demand situation affirms our 2004 strategic re-orientation Dr. Carl L. Woebcken, CEO Studio Babelsberg
The prospects for the 2008 financial year are also assessed as being very positive by the Board of Directors. Work on the Warner Bros. co-production Ninja Assassin has been ongoing since February 2008. The production of The Reader is in the final shooting phase.
"We expect a positive business environment in the future and the current demand situation affirms our 2004 strategic re-orientation", says Dr. Carl Woebcken, Chairman of the Board of Directors at Studio Babelsberg AG. Moreover, the Board of Directors is counting on an extension of the German Film Financing Fund (DFFF), initiated by the State Minister for Culture, Bernd Neumann, until 2012. This has already been publicly announced and is an important sign, especially internationally, for Germany as a film location – from both economic and cultural points of view.
