EuropaCorp (ALECP) H1 25/26 earnings summary

Executive summary

• Revenue rose 21% year-over-year to €13.8M, driven by strong TV/SVOD sales in France and the US, notably from new rights windows for the Taxi saga and Lucy.

• Operational margin improved to €4.0M (29% of revenue), up from €0.7M (6%) last year, due to higher sales and lower amortization costs.

• Net result was a loss of €1.9M–€2.0M, a significant improvement from a €4.9M loss a year earlier, mainly due to a €2.0M negative foreign exchange result.

• Cash flow from operations was €7.4M, down €5M year-over-year, but fully covered investment outflows.

Financial highlights

• Revenue: €13.8M (+21% YoY); TV/SVOD sales up 120% YoY to €7.5M, representing 54% of total revenue.

• International sales: €5.3M (38% of total), down €0.7M YoY due to lower US royalties.

• Operational margin: €4.0M (29% margin), up from €0.7M (6%).

• Net loss: €1.9M–€2.0M vs. €4.9M loss YoY; EBIT near breakeven at -€0.1M.

• Operating cash flow: €7.4M, down from €12.4M YoY.

Outlook and guidance

• New film Father Joe began production in October 2025, with high-profile cast and international setting; additional projects in development pending financing.

• Several co-development and co-production agreements signed, pending financing.

• Management anticipates a full-year loss for FY 2025/26 but reports sufficient liquidity for short-term obligations.