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EuropaCorp revenues, profit soar

French mini-major EuropaCorp has posted improved revenues and profit for the first half of this year.

Overall revenues at the film and TV production studio were €98 million (US$122 million) for the six months to September 30, 46.3% up on the €67 million reported in 1H13, driven by international sales. Profit came in at €7.3 million against last year’s €900,000.

EuropaCorp, which also distributes its own drama series, generated TV revenues of €18.7 million, compared with €12.1 million a year prior, with NBC’s Taxi Brooklyn and season three of TF1 and RTL-TVI series No Limit among the key drivers.

The firm’s French-focused television business recorded revenues of €9.2 million, slightly up year-on-year

This comes after the Transporter studio was last month hit with a €200,000 fine from the Financial Markets Authority following a three-year investigation into imprecise and inaccurate accounting.

That news closely followed the closure of a new five-year credit facility comprising a US$400 million credit line, a US$50 million second lien facility and a US$150 million commercial loan.

EuropaCorp, which French director Luc Besson founded in 2000, attributed its high 29% operating margin as being down to international sales of feature films such as Lucy, continued growth in its TV business, and limited increases in sales costs.