TIDMDQE
RNS Number : 9809O
DQ Entertainment PLC
12 February 2016
Immediate release 12 February 2016
DQ Entertainment plc
("DQE" or the "Group")
Indian subsidiary financial results for the third quarter ended
31st December 2015
DQE Entertainment (International) Limited ("DQE India" or "the
Company"), the Bombay Stock Exchange and National Stock Exchange of
India listed, production and distribution company, which is 75 per
cent owned by DQE, announces its unaudited financial results for
the third quarter ended 31 December 2015, prepared under Indian
GAAP.
Financial highlights for DQE India for the nine month period
ended 31 December 2015:: (excluding DQ Entertainment (Ireland)
Limited and the Group):
-- Income from operations: INR 1187.75mn (2014: INR 1084.06 mn)
-- EBITDA: INR 543.57 mn (2014: INR 483.09 mn)
-- Profit (Loss) before tax*: INR 413.07 mn (2014: INR 245.38 mn)
-- Profit (Loss) after tax*: INR 314.52 mn (2014: INR 224.42 mn)
* Profit before tax and Profit after tax includes the
exceptional item by way of notional foreign exchange gain of
approximately INR 161.87 mn for the period ended 31 December 2015
(2014: INR 108.34 mn)
The Company's operations have shown positive results, due to
improvements in delivery of projects as well as the commencement of
the production of several new projects. During the nine month
period the Company generated total revenue of INR 1187.75 mn, which
is in line with management's expectations.
In the current quarter, our focus will be on further improving
operational efficiencies and expanding human resources to meet the
demand of production in the coming months.
The Company has continued its efforts in respect of the
collection of receivables from customers, which the Directors
believe are bringing in positive results, with remittances having
been received from almost all relevant parties. We are confident
that these actions will enable us to report an improved debtors
status by the end of the financial year.
Industry Trends
Animation is no longer only about TV series or theatricals. It
isn't only about big budget Hollywood movies or network dependent
expensive TV productions. The demand for animated content is
growing across a range of media channels, from apps to advertising,
websites to music videos and beyond.
The distinction between live action and animation is also
narrowing all the time, as shown in most of the biggest hits such
as The Revenant, Star Wars: The Force Awakens or Jurassic World,
which contained a significant amount of animated/motion captured
characters.
Whether for our proprietary productions or co-productions with
other global producers, we are guided by these industry trends in
our choice of properties and strategies surrounding them. We are
focussing our efforts on cross platform monetisation of our
properties while also using unique production technologies that
integrate live action footage with animation.
Business Update
Our proprietary production 'The New Adventures of Peter Pan'
season II is nearing completion and final episodes are in
post-production. The series will be aired on several broadcast
networks and has been acquired by ZDF Germany, De Agostini Italy,
Al Jazeera Middle East, ATV Turkey, Telequebec Canada, Media Corp
Singapore and SKY Italia amongst others. Apart from traditional
linear broadcast channels, discussions are taking place with
several non-linear SVOD platforms and channels.
DQE's iconic brand, The Jungle Book spin off, which combines
documentary live action footage with storytelling and voice over by
animated characters, has been well received by several broadcast
networks. In its unique format, it lends itself in the
'edutainment' category which sets it apart from routine kids
content. This unique series will soon air on a leading global SVOD
platform.
Another notable spin off 'The Jungle Book the Christmas movie'
is also complete. The length of the movie is suitable for TV
features, DVD release and online SVOD. It has already been picked
up by some of the biggest public broadcasters such as Discovery
Latin America and TF1 France. Due to the perennial nature of the
Christmas theme, this property is expected to see renewed interest
on a season by season basis.
Other productions such as The Hive - Season 2 from Lupus Films,
Popples from Saban Brands USA, Sheriff Callie's Wild West from Wild
Canary for Disney Junior, USA and Seven and Me, a hybrid show
combining high quality CGI with live action footage are nearing
completion. DQE's intellectual property '5& IT' is being
produced in a 52x11 minute format and is being extremely well
received globally, with Disney Germany being the lead broadcaster
and co-producer.
Our flagship property, The Jungle Book, is in its third season
with co-production and creative partners ZDF Germany and Canal+
France, as well as Ellipsanime France, who will undertake the pre-
and post-production on the series.
DQE's VFX division was involved in elements of this year's
highly acclaimed films, SS Rajamouli's 'Bahubali' and Gunasekhar's
'Rudrama Devi'. DQE also produced high end visual effects sequences
for Akkineni Akhil's debut film directed by V.V.Vinayak.
The division is currently engaged on certain high-end visual
effects assignments for big banner feature films directed by
leading directors from the Indian Tollywood industry, while several
other discussions are underway for VFX work in domestic and
regional feature films.
The Company's digital platforms continue to perform
satisfactorily and will soon see third party properties being
hosted on 'Power Kids' and 'Tiny Toonz' channels.
Our focus on improving operational efficiencies and the
consolidation of artistic and technical skill sets continues, with
productivity improvements being recognized across all processes of
production.
"The Jungle Book - Mowgli's Adventure" - 3D Feature Film
The Company has entered into an executive producer agreement
with Amasia Entertainment LLC, USA. Amasia is an independent motion
picture entertainment company of reputable track record and is
represented by industry veterans Michael Helfant and Bradley Gallo.
They will assist the Company with seeking to secure a prints and
advertising credit facility, a distribution deal with a US
Distributor, international distribution deals and arrange for the
financing, as well as select and negotiate celebrity casts of the
main characters of the feature. Amasia will also advise on
marketing and promotion and support strategic production
relationships of the film. Pre-sales discussions are on in various
international territories which will contribute to the closure of
the production budget.
A prints and advertising credit facility term sheet has been
signed with Panda Media Fund and a domestic US distribution deal is
close to being finalised with a leading US distributor. Release of
the film is expected in late 2017/first quarter of 2018.
International distribution is being discussed with EOne, Rai cinema
and others who have indicated an interest in the distribution.
For further information, please visit www.dqentertainment.com or
contact:
DQ Entertainment plc
Tapaas Chakravarti - Chairman and CEO Tel: +91 40 235 53726
Rashida Adenwala - Director Finance & Investor Relations
Allenby Capital Limited -- AIM nominated adviser &
broker
Jeremy Porter / Alex Brearley Tel: +44 (0)20 3328 5656
Buchanan -- Financial PR
Mark Edwards/ Robbie Ceiriog-Hughes Tel: +44 (0)20 7466 5000
Below is an extract from the unaudited financial results of DQE
India for the third quarter ended December 31, 2015. The full
unaudited results are available from the DQE India section of the
BSE website (www.bseindia.com) and NSE website (www.nseindia.com),
as well as on the Company's website (www.dqentertainment.com).
DQ ENTERTAINMENT (INTERNATIONAL) LIMITED
Un-Audited Standalone Financial Results for the quarter and nine
months ended 31 December 2015
(Rs in million)
----------------------------------------------------------------------------------------------------------------------
Sl. Particulars 3 months Preceding Corresponding Year to Year to date Previous
ended 3 months 3 months date figures figures for year ended
No 31/12/2015 ended ended for the the previous 31/03/2015
30/09/2015 31/12/2014 current period ended
period 31/12/2014
ended
31/12/2015
------- ----------------- ------------- ------------- -------------- -------------- -------------- ------------
(Un-audited) (Un-audited) (Un-audited) (Un-Audited) (Un-Audited) (Audited)
------- ----------------- ------------- ------------- -------------- -------------- -------------- ------------
Net Income
1 from Operations 493.89 402.04 414.27 1,187.75 1,084.06 1,815.65
------- ----------------- ------------- ------------- -------------- -------------- -------------- ------------
2 Expenditure
------- ----------------- ------------- ------------- -------------- -------------- -------------- ------------
Production
February 12, 2016 10:54 ET (15:54 GMT)
2) The un-audited consolidated financial results for the quarter
and nine months ended December 31, 2015 have been taken on record
by the Board of Directors at its meeting held on 12 February 2016.
The "Un-audited Consolidated Financial Results" have been subjected
to the limited review by statutory auditors of the Company.
3) The financial results are prepared in accordance with the
principles and procedures for the preparation and presentation of
consolidated financial statements as set out in the Accounting
Standard on "Consolidated Financial Statements" mandated by Section
133 of the Act Read with Rule 7 of the Companies (Accounting
Standards) Rules, 2006, the provisions of the Companies Act, 2013
and guidelines issued by the Securities and Exchange Board of
India
4) Investors can also view the financial results (standalone and
consolidated) on the Company's website "www.dqentertainment.com" as
well as the website of BSE (www.bseindia.com) and NSE
(www.nseindia.com)
5) Certain Standalone Information of the Company.
Particulars 3 months Preceding Corresponding Year to Year to Previous
ended 3 months 3 months date figures date figures year ended
31/12/2015 ended ended for the for the 31/03/2015
30/09/2015 31/12/2014 current previous
period period
ended ended
31/12/2015 31/12/2015
------------------ ------------- ------------- -------------- -------------- -------------- ------------
(Un-Audited) (Un-Audited) (Un-audited) (Un-Audited) (Un-Audited) (Audited)
------------------ ------------- ------------- -------------- -------------- -------------- ------------
Net Income
from Operations 493.89 402.04 414.27 1187.75 1084.06 1,815.65
------------------ ------------- ------------- -------------- -------------- -------------- ------------
Profit
/ (Loss)
before
tax 156.93 203.56 181.98 413.07 245.38 356.04
------------------ ------------- ------------- -------------- -------------- -------------- ------------
Profit
/ (Loss)
after
tax 118.68 159.03 122.78 314.51 224.42 289.99
------------------ ------------- ------------- -------------- -------------- -------------- ------------
6) *Exceptional items are notional foreign exchange gain /
(loss) arisen on foreign exchange fluctuation calculated on
translation of monetary items as per Accounting Standard -11
7) **Total interest and finance expense includes of Rs.263.45 Mn
on account of debt bond issued at DQ Entertainment (Ireland)
Limited.
8) Receivables include amounts which are due for more than a
year of Rs. 2,347 Mn. The Company is following up with the
customers to make early collection. There are no disputes with the
customers and the balances have been confirmed by them. The
customers have also expressed their willingness to settle the
balances. The payments are delayed in view of the prevailing market
and industry conditions in Europe and other places where the
customers are located. In the opinion of the management these
balances are good and are fully recoverable.
9) Corresponding quarter and half year figures have been
regrouped / reclassified wherever necessary
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRTGGUUAPUPQGAP
(END) Dow Jones Newswires
February 12, 2016 10:54 ET (15:54 GMT)
Grafico Azioni DQ Entertain. (LSE:DQE)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni DQ Entertain. (LSE:DQE)
Storico
Da Gen 2024 a Gen 2025
