SCP Standard Capital Partners (CAP) H1 2024 earnings summary

Executive summary

• Renamed from PANTAFLIX AG to PAL Next AG in August 2024 to reflect a broader business scope and AI-driven production focus.

• First half of 2024 was a production-heavy period, with most revenue from ongoing projects expected in 2025.

• Major productions included THE TIGER (Amazon Prime Video), DAS LEBEN DER WÜNSCHE, ONE HIT WONDER, and ASBEST Season 2.

• Storybook Studios launched the AI-produced SPACE VETS pilot, completed in 60 days with a small team.

Financial highlights

• Revenue for H1 2024 was EUR 1.16 million, down sharply from EUR 21.2 million in H1 2023 due to production cycle timing.

• EBIT for H1 2024 was EUR -2.25 million, compared to EUR -0.73 million in H1 2023.

• Equity fell to EUR 0.51 million as of June 30, 2024 (Dec 31, 2023: EUR 2.6 million); equity ratio dropped to 1%.

• Cash and cash equivalents increased to EUR 32.7 million (Dec 31, 2023: EUR 29.0 million).

• Market capitalization at June 28, 2024 was EUR 42.4 million; share price down 5.7% YTD.

Outlook and guidance

• 2024 revenue forecast: EUR 3–4.5 million; total operating revenue plus other income at least EUR 4 million.

• EBIT expected between EUR -4 million and EUR -2.5 million for 2024, with breakeven targeted for 2025 as projects complete.

• Revenue volatility expected due to project-based accounting; significant revenue growth anticipated in 2025.