Studio Babelsberg AG (ISIN: DE000A0D9UR4) announces a successful first half of 2007.
During the first half of 2007, we have met our set goals. Through the successful launch of the German Film Fund (DFFF) and a lasting trend towards producing films internationally, we expect to see a positive trend for our business in the coming years.“
Dr. Carl Woebcken
CEO, Studio Babelsberg AG
Until June 30th 2007, the Studio’s EBITDA had reached €2.7M. Until the end of the year, turnover is expected to exceed €100M (previous year: €16.4M) boosting pre-tax profits to an estimated €5M (previous year: €-2.7M). At the end of Q2, Studio Babelsberg Group’s liquid assets amounted to €9M, leaving the company debt-free.
“During the first half of 2007, we have met our set goals. Through the successful launch of the German Film Fund (DFFF) and a lasting trend towards producing films internationally, we expect to see a positive trend for our business in the coming years.”
Dr. Carl Woebcken, CEO Studio Babelsberg AG
During the first six months, the Studio has been hard at work on eight feature film productions, four of which are currently still in production, including the two big-budget US shows , “Speed Racer” (Warner Bros.), and “Valkyrie” (United Artists).
Dr. Carl Woebcken, CEO of Studio Babelsberg AG says: “The excellent situation, business-wise, in the first half of 2007 shows that our 2006 strategy to expand our stage capacity, was dead-on. By focusing our business, we are now able to handle two to three big-budget productions as well as three to four smaller productions simultaneously. That means our facilities and all business units have been working at full capacity.
During the first half of 2007, we have met our set goals. Through the successful launch of the German Film Fund (DFFF) and a lasting trend towards producing films internationally, we expect to see a positive trend for our business in the coming years.”
Until the end of the year, Studio Babelsberg estimates to facilitate 11 feature film productions. Currently, management is negotiating with yet another US-major to bring another big-budget production to Babelsberg, which is currently slated to go into production later this Fall.
