DQ ENTERTAINMENT plc – Preliminary Results

DQ ENTERTAINMENT plc – Preliminary Results

DQ Entertainment plc, a leading animation, gaming, live action entertainment production and distribution company, today announces its preliminary results for the year ended 31 March 2011.
 
Financial Highlights:

  • Revenue up 23% to US$ 45.29m (2010: US$ 36.76m )
  • Profit before tax up 12% to US$ 7.24m (2010: US$ 6.46 m)
  • EBITDA at US$ 17.17m (2010: US$ 14.03 m) *
  • Order book currently at US$ 112m**
  • Cash and cash equivalents of US$ 15.98 m (previous year: US$ 12.63 m)

*EBITDA is calculated by adding depreciation and amortisation expenses to the operating results before financing costs.
**Includes contracted forward production revenues and signed licensing & distribution deals
 
Key Highlights:
 
Productions successfully completed and delivered in the year ended 31.03.11.

  • The Jungle Book, Season 1 (52x11' 3D TV series) is now airing in more than 25 countries around the world and has received the highest viewing ratings on several marquee networks
  • The Prodigies - DQE's first 3D animated theatrical feature film (for Warner Bros, Fidelite Films, Studio 37 and Onyx Films) opened in France in June 2011 followed by the Global launch shortly
  • Other projects completed during the year include Penguins of Madagascar - 2, (13 x 11.5' 3D TV series),  Hive ( 78 x 7' 3D HD TV series) and  Galactik Football (26 x 22' 3D TV seires)

 
New Commissions and Productions signed  in the year

  • The Jungle Book, Season 2: ZDF TV (Germany), TF-1 TV (France) and Moon Scoop (France) have agreed for the immediate production of another 52x11' episodes of the highly acclaimed 3D TV series.
  • Peter Pan - 26 x 22' - 3D HD Stereoscopic TV Seires with   ZDF Group ( Germany) and Method Animation (France) supported by France Televisions, De Agostini Group (Italy), ATV (Turkey) and B Channel (Indonesia)
  • Lassie & Friends:52 x 11' 2D TV series with Classic Media (USA) and ZDF Enterprises, (Germany)
  • Charlie Chaplin - 104 x 6' 3D HD TV series with Method Animation,( France) and MK2 (France)
  • Robin Hood - Mischief in Sherwood.: 52x11' 3D TV series, with Method Animation (France)).
  • Little Nick, Season 2: 52x12', 3D HD TV series, with M6 Studios (France).
  • Little Prince: 52 x 22' 3D TV series with Method Animation,  French Television major -  France 3 , LLPTV( France), Sony BMG  (Luxembourg) and  WDR  (Germany).
  • Iron Man, Season 2: 26 x 22' 3D TV series with Marvel Entertainment, (USA) & Method Animation, (France).
  • Casper Season 2: 52 x 11' 3D CGI Animated Series, with Classic Media (USA), Moonscoop  & TF1-(France), Harvey Entertainment- (USA)
  • Mickey Mouse Club House - Season 4 for Walt Disney Television Animation, (USA)
  • Tara Duncan: 26 x 22' 2D TV series with Moonscoop, (France), M6  Studios - (France)
  • Keymon: 52 x 11' 2D TV series with Nickelodeon (India )
  • Mysteries & Feluda: 13 x 22' 2D TV series with  Disney (India), JCCTV (Doha)
  • Suryaputra: 60 mins TV feature with Disney (India)
  • Balkand 2 & 3: 70 mins each TV features with Turner Group (Asia)
  • Omkar 2: 70 mins TV feature with Turner Group (Asia)

 
Other Productions currently under development,

  • 5 & IT.: 52 x 11' 3D HD TV series.withCanadian and French partners.
  • Three 3D stereoscopic feature films to be released starting 2012-13 onwards through 2013-:14
    The Jungle Book (2012-13)
    THE New Adventures of Peter Pan (2013-14)
    The Phoenix and the Flying Carpet (2013-14)
    New Licensing, Distribution and Broadcasting deals signed in the year:
  • 22 new merchandising deals have been signed in the year all relating to The Jungle Book.
  • Over 20 new broadcasting deals have been signed in the year for a variety of properties including The Jungle Book, Casper, Twisted Whiskers, and Pet Pals.

 
Awards and Recognitions during the year:

  • DQE received The Best TV Production Award in the animated TV series category at the  Annecy Film Festival, France, for Little Nicholas (with M6 TV Channel, France)
  • DQE India received the Excellence Award as top ITeS Company in the State of Andhra Pradesh, India.
  • The Jungle Book Season 1 received 5 nominations including 'The Best TV series for Kids' at the Pulcinella Awards 2011.

Expansion:

  • DQE completed its expansion in DLF, The Special Economic Zone (SEZ) to cater for production & deliveries of the current order book and to avail necessary tax benefits.

Tapaas Chakravarti, Chairman  & CEO of DQE, commented:
"As mentioned earlier 2010-11, was filled with challenges from both local and international markets. Fortunately, we are now seeing gradual improvements in overall market conditions.

DQE has continued its steady progress up the animation value chain, both in the investment and creation of Intellectual Property ('IP') ownership and the distribution of animation content globally. The Company has been steadily and strategically developing and co-producing famous IP content such as The Jungle Book, Peter Pan, Charlie Chaplin, Iron Man, Lassie, Little Prince and Little Nick as well as Indian IP including Balkand, Omkar, Mysteries and Feluda, Suryaputra.
Whilst the global economic downturn continues to impact markets in the USA, Canada and Japan there are encouraging signs of recovery across Europe.  In response to this broader macroeconomic backdrop DQE has continued to develop its business model of self-sufficiency by focusing on 'production collaboration' as well as managing IP development.  This achievement is in part due to the global success of our 3D TV series The Jungle Book as well as several other high profile products.

DQE will continue to expand its portfolio of classical properties for worldwide exploitation across all platforms of audio-visual formats while Licensing and Distribution will add to the production revenues of the Group. Exploitation through newer delivery formats such as online and mobile content will be a focus area for exploration and growth for the company owned IP's."

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