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GAUMONT: Half-year consolidated results as of June 30, 2020

Written by Customer Service on . Posted in Public Companies.

Press releaseNeuilly-sur-Seine, September 10, 2020The Gaumont Board of Directors, which met today under the chairmanship of Nicolas Seydoux, approved the financial statements for the period ended June 30, 2020.CONSOLIDATED HALF-YEAR RESULTS as of June 30, 2020The first half of 2020 saw the declaration of a health emergency in France and all other countries where Gaumont operates. This had two main impacts on operations: first, the closure of movie theaters to the public; second, the temporary halt in shooting, prior to its resumption with enhanced safety measures.
This resulted in an adjustment to the movie release schedule and a postponed delivery of the Group’s productions, the effects of which will be apparent in the second half of 2020.
No projects under way at the start of the health crisis were permanently shelved, and operations resumed at the end of the first half-year. Since March, Gaumont has been adapting its systems and working methods to ensure business continuity, while doing its utmost to protect the health of its employees and partners.n REVENUE FOR THE FIRST HALF OF 2020Consolidated revenue for the first half of 2020 amounted to €69.9 million, versus €47.4 million as of June 30, 2019.Cinema productionRevenue for the movie production and distribution business amounted to €38.2 million as of June 30, 2020, versus €34.5 million as of June 30, 2019.Revenue from the release of films in French movie theaters stood at €3.1 million as of June 30, 2020, compared with €7.4 million as of June 30, 2019. Four films sold 1.2 million cinema tickets in the first half of 2020, whereas the five films released in the first half of 2019 sold 2.8 million tickets. The distribution of Pappy Sitter was interrupted by the closure of movie theaters to the public from March 15, 2020 to June 22, 2020. Simply Black, originally scheduled for release in April, was rescheduled for release in early July 2020.Revenue from video distribution and video on demand in France amounted to €4.0 million as of June 30, 2020, versus €4.2 million as of June 30, 2019. Physical video sales were affected by the closure of retail outlets during the lockdown. Conversely, this had a positive effect on the video-on-demand streaming of catalog titles and movies released in theaters in 2019. Revenue related to sales of broadcasting rights to French television channels amounted to €21.2 million as of June 30, 2020, versus €9.9 million as of June 30, 2019. French television channels broadcast more movies during the lockdown, which was a boost for Gaumont’s back catalog. Revenue as of June 30, 2020 also includes revenue from first broadcast rights for the films Three Days and a Life, Rolling to You and The Death of Stalin.
Revenue from film sales outside France came to €7.6 million as of June 30, 2020, compared with €10.6 million as of June 30, 2019. The global lockdown resulted in the suspension of theater releases, the cancellation of international conventions, and a decline in export sales of new releases. 
 Television production          

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