Today, Studio Babelsberg AG’s second general shareholder’s meeting since the initial public offering on 04/29/2004 approved to pay a dividend of €0.10 per share (par value per share: €1). The agenda item “Use of Balance Sheet Profit” was approved by 99.99 percent of the authorized capital of which 72.61 percent were present. Of the balance sheet profit shown in the 2006 annual report, €1,591,981.80 of €1,591,981.80 were paid out as profit-share. The members of the board were released with 100 percent of the present authorized capital; the board of supervisors was released with 99.99 percent. With 100 percent of the present votes, management was authorized to purchase up to 10 percent of the capital stock. The amendments to the articles of association were also approved by 99.9 percent.
Re-Structuring Proves Successful
In 2006, the Studio Babelsberg Group was successfully re-structured. By selling its post production division to EuroArts Medien GmbH, Studio Babelsberg is now able to focus on its core business – offering production-associated services. The Studio’s acquisition policy focuses on German, European and big-budget international feature film productions.
Necessary cut-backs in personnel were implemented throughout Studio Babelsberg’s subsidiaries after employment guarantees linked to previous subsidies had expired. The measures were necessary despite the positive outlook for 2007, in order to guarantee short- and long-term profitability for the company and the varying workload of film productions.
Outlook: Competitive in Global Film Business; Launching International Productions
For financial year 2007, Studio Babelsberg expects a positive business environment and a significant growth in revenue and profit. Current orders and demand confirm the strategic re-orientation and the positive effect of the new production subsidy scheme (DFFF), implemented under minister of state Bernd Neumann, effective January 2007.
Expanding Co-Production-Activities
As “Hexe Lilli” entered principal photography yesterday, Studio Babelsberg launched its sixth large production this year. The Studio acts as a co-producer both on this film and on a number of other productions, including international big-budget movie “Speed Racer”, German-UK co-production “ No f*ing Handball” and German-Danish co-production “Flame & Criton”. Earlier this year, the Studio handled the production service for the third installment of the action thriller “The Bourne Ultimatum”.
The studio has already wrapped production on X-Filme’s feature film “Meine schöne Bescherung”. Currently, the Studio is in final negotiations to bring another two international big-budget productions to Berlin.
