Very solid overall activity level: +34%
Record revenues for new productions: +85%
Excellent momentum for newly inked deals and
productions in progress
Digital platforms make up 78% of sales
Regulatory News:
Xilam Animation (ISIN Code: FR0004034072, Symbol: XIL), an
independent animation production and distribution company, is
pleased to announce its revenues for the first half of its fiscal
year 2021, ending June 30, 2021.
Marc du Pontavice, Chairman and CEO of Xilam, commented that,
“Xilam is continuing its powerful manufacturing and program
delivery push. This first half of 2021 illustrates the ramp-up of
our activity with record sales for new productions, which will feed
tomorrow’s catalogue. The market is still strongly tilted towards a
demand for premium animation content. This is especially true of
digital platforms, which made record contributions to our revenues
this semester. Xilam continues to consolidate its position as the
French independent leader, imposing its brand and significant
expertise—which are recognized by major international players—in
the animation sector.”
('000 euros)
06.30.2021 (1)
06.30.2020
% change
Sales of new productions and
developments
7,792
5,263
48%
New Production Grants (2)
2,935
546
438%
Total new production and development
products
10,727
5,809
85%
Total catalog products
2,395
3,993
-40%
Total revenues and other income
13,122
9,802
34%
Other grants and current operating income
(including CIA) (3)
1,095
765
43%
Total operating revenues
14,217
10,567
35%
- unaudited data
- exclusive of audiovisual tax credit
- including an estimate of the audiovisual tax credit
Strong increase in revenues, up 34%
The Xilam Group's total revenues and other income amounted to
€13.1 million as at June 30, 2021, up +34% as compared to H1 2020.
This increase was driven in large part by record revenues from new
productions (€10.7 million), up +85% compared to H1 2020. Catalogue
revenues are temporarily slowing down compared to the first half of
2020, the latter having benefited in particular from
containment-related sales and new sales from the Cube catalogue.
After taking into account further subsidies and other current
operating income, total operating income amounted to €14.2 million,
up by +35% compared to the first half of 2020.
Xilam is continuing its rapid development on digital platforms,
which account for more than three quarters of half-yearly revenues.
International operations represent an ever-increasing share of
revenues this half-year, at 77% (73% in H1 2020).
Record new productions at +85%
The Group reported revenues from new productions of €7.8 million
for the six months ending June 30, 2021, up +48% compared with H1
2020. Subsidies amounted to nearly €3 million, up sharply due to
the large proportion of proprietary programs amongst deliveries
this semester. Total revenues from new productions thus came to
€10.7 million, a considerable increase of +85%.
This record level is a consequence of the editorial efforts the
Group has been making for several years, which has driven an
increase in deliveries. As a reminder, the Group has been highly
active, with 11 productions in progress for the first half of the
year. This growth is also the consequence of higher budget related
to the series commissioned by digital platforms.
Major proprietary program deliveries in the first six months of
2021 included the completion of Lupin’s tales, a preschool series
commissioned by France Télévisions and co-produced by Youku (China)
and RAI (Italy), as well as the two new brands in the Oggy and the
Cockroaches franchise, namely Oggy Oggy (for France Télévisions)
and Oggy Next Gen (for Gulli), which will be released worldwide on
Netflix under the Netflix Original label.
The Group also delivered the first episodes of new proprietary
series: Pfffirates for TF1 and Tangranimo for France Télévisions,
as well as Athléticus 3 for ARTE and Chicky 2 and 3 for France
Télévisions (both short format).
Also noteworthy was delivery of the latest episodes of the
non-proprietary program Chip 'n' Dale for Disney+.
Catalogue: a temporary slowdown before a new acceleration is
expected
Catalogue revenues were down for the first half of the year:
€2.4 million (vs. €4.0 million at June 30, 2020). This decline is
due to a seasonal effect that does not in any way speak to revenues
for the full year, which are not expected to decline.
In addition, given the increase in the number of productions
delivered in recent years and the new business model resulting from
contracts with digital platforms, which favors very rapid rerun
cycles, the group expects a very strong increase in its catalogue
revenues for 2022.
Goals and forecasts
Xilam is continuing to develop its collaboration with streaming
platforms and will benefit from legislation that came into force in
July 2021, transposing the European AVMS Directive into French law.
Effects should be felt as of fiscal 2022. Meanwhile, the Group is
also pursuing its partnerships with major traditional
broadcasters.
As the first half of the year saw intensive negotiations
regarding new productions, the second half of the year should be an
opportunity to announce new deals that will drive the company's
growth in the coming years. The second half of the year will also
be marked by two upcoming global launches this summer: Chip 'n'
Dale on Disney+ on July 28 and Oggy Oggy on Netflix on August 24.
The continued expansion of the Oggy and the Cockroaches franchise
will thus make a significant contribution to catalog revenues in
the coming years.
Xilam’s business momentum continues, with more than 15 new
programs in various stages of development.
Given this sustained activity with momentum for signatures and
productions underway, the resurgence of the health crisis,
particularly in Asia (India and Vietnam), where Xilam produces
certain parts of its programs, is likely to generate some delays in
deliveries due to the greater complexity of implementing
teleworking in this region. These delayed deliveries could push
back revenues of around 5 to 10% of previously announced guidance;
these revenues would instead benefit the following fiscal year, and
their lag in no way calls into question the expected growth
dynamic.
Results for H1 2021 will be published on September 29, 2021
(after the close of trading).
About Xilam
A major player in animation, Xilam is an integrated studio
founded in 1999 that creates, produces and distributes original
programs in more than 190 countries for both children and adult
audiences. Xilam content is broadcast on television, and is also
available on SVoD platforms including Netflix, Disney+, Amazon and
NBC Universal, and ADVoD streaming platforms including YouTube and
Facebook. With its creativity and capacity for innovation
recognised worldwide, and editorial and commercial expertise at the
cutting edge of its industry, Xilam is positioned as a key player
in a fast-growing market. Each year, Xilam builds real successes
and capitalises on its powerful historical brands including Oggy
and the Cockroaches and Zig & Sharko, as well as new properties
such as Oggy Oggy for a preschool audience, Moka, Mr. Magoo, and
Academy Award® nominated adult feature film I Lost My Body. Xilam’s
expanding and strong catalogue now consists of over 2,200 episodes
and three feature films. In 2019, Xilam acquired Cube Creative, a
studio providing the company with unique expertise in 3D and
computer generated images. Xilam employs more than 500 individuals,
including 400 artists, across its studios in Paris, Lyon, Angoulême
and Ho Chi Minh in Vietnam.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210722005778/en/
Marc du Pontavice - Chairman and CEO Arnaud Duault - Chief
Financial Officer Tel: 01 40 18 72 00
SHAN Agency - Alexandre Daudin (Media Relations) / Florent Alba
(Investor Relations) Tel: +33 (0)6 34 92 46 15 / +33 (0)6 25 60 48
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