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Europacorp: H1 loss of 70.6 million euros

(CercleFinance.com) - The group has announced H1 2017/18 turnover of 138.
1 million euros, 78 million euros (+128%) higher than in the first half of the previous fiscal year.

The consolidated operating result reached -32.5 million euros against -9.8 million euros last year, representing a decrease of -22.7 million euros. This decrease is partially offset by the recognition of the sale of the music catalog (+12 million euros), and by savings in overheads (savings of 3 million euros versus N-1).

The group's consolidated net loss reached 70.6 million euros, compared to a loss of 27.6 million euros in the first half of the previous year. The group said that this deterioration is due to: (i) the underperformance of acquisitions in the US market, The Circle and Their Finest; (ii) the disappointing performance of Valerian and the City of a Thousand Planets in the American Box Office; (iii) asset impairments, which had no cash impact.

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