TIDMDQE
RNS Number : 2188T
DQ Entertainment PLC
18 November 2013
For Immediate Release 18 November 2013
DQ Entertainment plc
('DQE', the 'Company' or the 'Group')
Results for the half year ended 30 September 2013
---------------------------------------------------
DQ Entertainment (DQE) a leading global animation, gaming, live
action, entertainment production and distribution company, today
announces its results for the period ended 30 September 2013
1. Financial Highlights:
-- Revenue: INR 870 mn (USD 14.77 mn) (2012: INR.954 mn)(USD 17.39mn)
-- EBIDTA: INR 561 mn (USD 9.53 mn)(2012: INR 348 mn)(USD 6.34 mn)
-- Profit before tax: INR 296 mn(USD 5.03 mn) (2012: INR 99 mn)(USD 1.8 mn)
-- Profit after tax: INR 287 mn (USD 4.87 mn) (2012: INR 71 mn)(USD 1.29 mn)
-- With the first signs of improvement in the global scenario
your Company has buoyantly sustained itself and generated a total
revenue of Rs. 870 mn during the half year ended September 2013
which is on line with our annual estimates.
-- The financials had a positive impact of change due to foreign
exchange rates and substantial increase in production/delivery
efficiencies. For the half year ended September 2013 there is a
foreign exchange gain of Rs. 315 mn as compared to a loss of Rs. 17
mn for the corresponding period in the previous year. This gain is
on account of restatement of foreign currency balances as on 30
September 2013.
-- The Company continues to make significant efforts to reduce
its receivables to a normal cycle. Since April 2013, the Company
has already collected Rs. 86 Crores. We are constantly in touch
with all the clients/partners/broadcasters/distributors/agents for
recovery of due amounts and monies are being received from most of
the clients on regular basis, thereby assuring that the clients are
committed to pay. We do not foresee any issues on the
recoverability of these amounts.
During the half year ended, the Company has repayed term loans
to the extent of INR155 mn
2. Chairman's Statement:
The global entertainment industry is developing at an
unprecented pace. Mobility and portability of content will, in my
opinion, have a profound impact as viewers consume programming
outside their homes and want to control what they watch, when they
watch, and on what device . So many opportunities are evolving and
we recognize that in so far as content production is important,
even more vital will be the distribution technologies that are
emerging.
Recognizing and serving this need with regards to distribution
technology, we have made substantial and focused progress in
Licensing and Distribution of our Intellectual Properties not only
for television broadcast, but other VOD (Video on Demand) and SVOD
(Subscription Video on Demand) & OTT (Over the Top) platforms
as well. Our flagship global property Jungle Book Series is on
Netflix, Vudu and Hulu - the famous OTT platforms in the USA.
New associations with leading networks and licensees globally
are paving the way to monetize our IPs and co-produced content. New
deals across our portfolio of properties in recent months are with
best-in-class partners such as France Television, Nickelodeon,
Disney Channel Productions, Sky Italia, Universal Music, Discovery
Kids, Rai TV, Italy etc. The promotional deal for The Jungle Book
with Burger King Worldwide has been immensely successful and will
be extended for second promotion.
We have successfully completed deliveries while new productions
are in development. Our foray into theatrical production of 'The
Jungle Book' is gathering momentum, and we hope to conclude
announceable distribution deals in the near future.
Recently, the Group concluded co-production and licensing deals
worth INR 2220 mn. We remain confident that the global
entertainment industry has excellent growth prospects, while our
business remains well placed for projected growth in the current
year."
3. Operating Highlights:
Completed projects:
1. Peter Pan Season 1 - 26 x 22' 3D HD Stereoscopic TV Series
with ZDF Germany, De Agostini Italy, Method Animation supported by
France TV, B Channel - Indonesia, JCCTV - Middle East and Noga -
Israel
On- going projects :
1. Jungle Book Season 2 - 52 x 11'CGI TV series with ZDF - Germany and TF1 - France
2. Jungle Book Christmas Special - 42' CGI TV Feature, ZDF and Disney Channel
3. Robin Hood, Mischief in Sherwood - 52 x 11' CGI TV series
with Method Animation and TF1 - France, ZDF - Germany, ATV -
Turkey, DeA Kids - Italy
4. Lassie & Friends - 52 x 11' 2D HD TV series with
Dreamworks Classic Media - USA, Super Prod & TF1 - France, ZDF
- Germany
5. Lanfeust Quest - 26 x 22' CGI TV series with Gaumont Animation - France, M6 TV - France
6. NFL Rush Zone Season 3 - 24 x 22' CGI & 2D TV Series with
Rollman Entertainment - USA for Nicktoons
7. Little Prince Season 3 - 26 x 22' CGI TV series with Method
Animation, WDR - Germany, France Television, RAI TV - Italy
8. Iesodo - 10 x 13' CGI TV Series with Zaya Toonz LLC - USA
9. Manav - 1 x 60' 2D TV feature for Disney - India
New projects signed/in development:
1. Peter Pan Season 2 - 26 x 22' CGI TV series with ZDF -
Germany, De Agostini - Italy and Method Animation - France and
France TV
2. *Yonaguni - 52 x 11' CGI TV series with Sea World - USA and Rollman Entertainment- USA
3. *7 Dwarfs & Me - 52 x 11' CGI & Live Action Hybrid Series with Method Animation - France
4. 5 & IT - 52 x 11' - CGI TV Series with ZDF Enterprises -
Germany, Method Animation - France, Nick- India and Global TV -
Indonesia
5. Leo & The Pisa Gang - 52 x 11' - CGI TV series with MPP Production and Penta TV - Germany
6. Raz & Benny - 52 x 11' - CGI TV series with Foothill Entertainment - USA
7. The Wind in the Willows - 52 x 11' HD TV series under development
* Have been signed/in development since the Indian subsidiary Q1
announcement on 9 August 2013
Licensing and Distribution:
Our licensing and distribution efforts have proven increasingly
successful on a global scale and are helping to create long term
and sustained value for DQE.
Broadcasting deals signed during the period:
S. Name of the licensee Project Name Territories
No
---- --------------------- ----------------------------------- -----------------------
1 Discovery* Robin Hood Indian Sub- Continent
Region
---- --------------------- ----------------------------------- -----------------------
2 Nickelodeon* The Jungle Book - 1 & 2, The Indian Sub- Continent
Rising Star and Galactic Football
---- --------------------- ----------------------------------- -----------------------
3 Sky Italia* Peter Pan - 1 Italy
---- --------------------- ----------------------------------- -----------------------
4 Rai TV* Peter Pan - 1 Italy
---- --------------------- ----------------------------------- -----------------------
5 Universal Music* Jungle Book - 2 World Wide
---- --------------------- ----------------------------------- -----------------------
6 2 x 2* Iron Man 2 Russia
---- --------------------- ----------------------------------- -----------------------
7 Green Narae Media* Jungle Book 2, Peter Pan Korea
---- --------------------- ----------------------------------- -----------------------
8 Clearvision Iron Man 2 United Kingdom
---- --------------------- ----------------------------------- -----------------------
9 Parent Media
Co Iron Man 2 Canada
---- --------------------- ----------------------------------- -----------------------
10 Simbasat Iron Man 2 French Speaking Africa
---- --------------------- ----------------------------------- -----------------------
11 Escalada (RTM) Jungle Book - 1, Iron Man Malaysia
2 & Peter Pan
---- --------------------- ----------------------------------- -----------------------
12 Univision Jungle Book - 1 USA & Puerto Rico
---- --------------------- ----------------------------------- -----------------------
13 Knowledge Network Jungle Book - 1 British Columbia
---- --------------------- ----------------------------------- -----------------------
Merchandising deals signed during the period: The Jungle
Book
S. Licensee Category Territories
No
---- --------------------- ----------------------------- ------------------------
1 Show Attraction* Costume Character Appearance Australia
---- --------------------- ----------------------------- ------------------------
2 Habuba Clip* Toys Israel
---- --------------------- ----------------------------- ------------------------
3 TRU Dubai* Toys Dubai
---- --------------------- ----------------------------- ------------------------
4 Hunter Leisure* Toys Australia
---- --------------------- ----------------------------- ------------------------
5 Prima Toys* Toys South Africa
---- --------------------- ----------------------------- ------------------------
6 Scandi Toys* Toys Scandinavia
---- --------------------- ----------------------------- ------------------------
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