At an annual results press conference held at the German Stock Exchange in Frankfurt am Main, Studio Babelsberg AG today published the end-of-year figures for 2007 and announced the start of a new international film production.
Successful business development and doubling of dividends
2007 marked the most successful business year since the company was privatised in 1992. The Studio Babelsberg Group achieved a positive result of 6 million Euros (result for same period last year: loss of 2.7 million Euros). The positive result was in particular due to the realisation of 12 motion picture films at Studio Babelsberg in 2007 and the associated increased utilisation of production facilities.
The total turnover of the Studio Babelsberg Group rose from 16.4 million Euros in 2006 to 87.1 Mio. Euros (financial accounting based on the German Commercial Code - HGB). This increase of 70.7 million Euros can be attributed in particular to the internal co-productions “Speed Racer” with Susan Sarandon, Emile Hirsch and John Goodman, “Valkyrie” with Tom Cruise and “The International”with Clive Owen und Naomi Watts.
The excellent business development was also reflected by the increase in the Group’s liquid funds (without consideration of prepayments) to approximately 14 million Euros. The business has also profited from the offensive investments made in recent years, which have resulted in all business divisions becoming extremely competitive.
Studio Babelsberg AG continues with its shareholder-friendly dividend policy. The Board of Directors and the Supervisory Board therefore propose a doubling of the dividend to the annual general meeting in June 2008, to 0.20 Euros per share.
Validation of the New Alignment
The realignment pursued since 2004 has thus proven to be a complete success. The objectives were to focus on national and international motion picture films, reduce fixed costs, extend studio capacities and divest the no longer core business of post production.
Support from the German Film Financing Fund (DFFF) | Competitive in the Global Film Industry
By virtue of the new incentive scheme for the German film industry initiated on 1st January 2007 (German Film Financing Fund - DFFF), Studio Babelsberg has been able to become involved as co-producer for a large number of productions. This strengthens the position of both Studio Babelsberg in the international market, as well as the whole German film industry, and is an important instrument for strengthening international competitiveness.
Start of the Warner Bros. Production “Ninja Assassin” at Studio Babelsberg
Studio Babelsberg officially announces the start of filming for the first major internal motion picture film of 2008. The preparations have been going on since February at Studio Babelsberg for the new Warner Bros. production “Ninja Assassin”. The team, consisting of the producer Joel Silver as well as Larry and Andy Wachowski, has come to Babelsberg for a big-budget production for the third time, following on from “V for Vendetta” and “Speed Racer”. The action film is to be directed by James McTeigue.
“After the fantastic business year in 2007 the outlook for 2008 is also positive. We are superbly prepared in terms of production services for large-scale international film productions, as well as the provision of production organisation, studio and stage space, and scenery and props construction. In addition we will continue to develop the growth segment of co-productions”, comments Dr. Carl Woebcken, Chief Executive of Studio Babelsberg AG.
