Total sales and grants down at €26.6
million
Strong catalogue performance in the second half
of the year
Very solid financial position, enabling the
development of new projects in a highly challenging market
Regulatory News:
Xilam Animation (Paris:XIL), Academy Award®-nominated
French animation studio, reports its full-year revenue for the
financial year ended 31 December 2024.
Marc du Pontavice, Chairman and CEO of Xilam : “During
the hypergrowth cycle that began in 2015 and ended in 2023, Xilam
significantly strengthened and structured itself, securing a
leading position in the global animation market. The strength of
its catalogue and the accumulated profits have contributed to the
company's very solid financial situation, allowing it to navigate,
with confidence, the significant and sudden downturn in the
animation market.
Thus, in 2024, despite a sharp decline in revenue, strong
catalog sales in the second half of the year and strict management
of fixed costs enabled the Group to achieve a positive net cash
position. However, given the lack of visibility regarding the
medium-term market outlook, results may be affected by potential
exceptional impairments, with no impact on the cash position.
2025 will still be a challenging year, and the Group will focus
its efforts on rebuilding its order book, leveraging the strength
of its brand, the creativity of its talents, and its key position
at the heart of the global animation industry. We remain confident
in our ability to bounce back as soon as the time is right”.
(‘000 euros)
31.12.2024 (1)
31.12.2023
% change
Sales of new productions and
developments
15,267
30,560
-50%
Catalogue sales
8,196
9,166
-11%
Total sales
23,464
39,726
-41%
Grants (2)
3,113
6,006
-48%
Total sales and grants
26,576
45,732
-42%
Other current operating income (including
ATC (3))
1,334
2,482
-46%
Total operating revenue
27,910
48,214
-42%
(1)
Unaudited data
(2)
Total grants (new production and
catalogue)
(3)
Estimated Audiovisual Tax Credit (CIA)
Sales of new productions and developments at €15.3
million
Sales from new productions and developments amounts to €15.3
million in 2024, down by 50%. Following the decline in the first
half of 2024, this annual decrease was announced due to the
contraction in orders from American streaming platforms in the
children's segment.
The share of servicing (non-proprietary productions) represents
70% of revenue, compared to 75% in 2023, reflecting the Group's
successful diversification into the young-adult segment for
platforms. The Group primarily worked on four such productions
during the year:
- One for Disney+, The Doomies, a horror-comedy for teen
viewers;
- Two for Netflix: The Seven Bears, a 3D family-oriented
production (Folivari production), and the completion of Twilight of
the Gods, an epic series for a young-adult audience;
- One for France Télévisions, My Life in Versailles, for a family
audience (Films Grand Huit production).
The share of proprietary productions accounts for 30% of
revenue, with four productions: the first season of Buddybot, a
children's eco-comedy, the second season of Lupin's Tales, the
start of production for Piggy Builders, a new preschool and
family-oriented series and the completion of Zig & Sharko,
season 4.
The Group is actively working on new proprietary production
projects to achieve a more balanced distribution between these two
market segments.
Solid catalogue sales in the second half, reaching €8.2
million over the full year
Catalogue sales rebounded in the second half, reaching €5.9
million, an 8% increase compared to H2 2023. Over the full year,
catalog sales slightly declined to €8.2 million.
At the end of 2024, the Group renewed its partnership with Sony
Pictures Networks India for the Oggy and the Cockroaches franchise,
covering 145 half-hours of content.
Overall, catalog sales were driven by Xilam’s four flagship
franchises: Oggy and the Cockroaches, Zig & Sharko, Chicky and
now Karate Sheep.
These franchises represented 66% of catalog revenue, compared to
68% in 2023.
The catalog remains a key pillar of Xilam’s proprietary model,
boosted by the regular release of new seasons and new
creations.
Total sales, excluding grants, at €23.5 million
Total sales, excluding grants, reached €23.5 million.
International revenue accounted for 75%, nearly stable compared
to 2023, with a similar proportion in both new productions and
catalogue sales.
The share of digital streaming platforms stood at 53%, compared
with 68% in 2023, as a result of the decline in orders since 2023.
Within the catalogue segment, traditional linear TV channels remain
dominant and even grew in 2024 compared to 2023.
Total operating revenue at €27.9 million
Grants amounted to €3.1M, bringing the total sales and grants to
€26.6M.
Other current operating income stood at €1.3M, leading to a
total operating revenue of €27.9M.
Strong financial position
Full financial results will be released on March 27, but the
Group already confirms a positive free cash-flow generation for
2024. Thus, by the end of 2024, the Group is expected to report a
positive cash position, net of all debt (including self-liquidating
debt). This results from: (i) Cost-reduction measures implemented
during the year, resulting to approximately €3 million savings on a
full-year basis; (ii) The predominance of servicing in new
productions, generating cash flow rapidly; (iii) continued
reduction in working capital requirements.
However, significant exceptional negative items could have a
substantial impact on the operating income for the year. Indeed,
the Group’s asset amortization was based on dynamic medium-term
market growth, but the current market uncertainties led us to
consider: (i) a full review of the net book value of the catalogue,
whose sales are concentrated on a few key franchises; (ii) a
potential write-down of the goodwill allocated to Cube.
Readers are reminded that any such write-downs, which will be
discussed over the coming weeks ahead of the financial closing, are
of an accounting nature with no impact on the Group’s cash
position. They do not undermine Xilam’s business model or its
ability to bounce back when the time comes.
In 2025, the Group focuses on rebuilding its order
book
Xilam enters 2025 with a focus on the production of three new
projects announced last year:
- Piggy Builders, a pre-school series in 3D, financed on a
proprietary model, boarding France Télévisions, ZDF and the
BBC;
- Submarine Jim, a comedy aimed at kids, also under a proprietary
model, boarding France Télévisions and Super RTL.
- Lucy Lost, a new epic family feature, co-written and directed
by Olivier Clert, and adapted from the novel Listen to the Moon by
multi-award-winning British author Michael Morpurgo.
While these three highly promising projects have been well
received by the market, they will not be sufficient to stabilize
the Group’s revenue in 2025, which is expected to decline.
With the strength of its brand, the creativity of its talents,
its key positioning at the heart of the global animation industry,
and a very solid financial situation, the Group is actively working
to rebuild its order book in order to enter a new cycle of
profitable growth.
Calendar
Publication of 2024 full-year results: 27 March 2025 (after
market close)
About Xilam
A major player in animation, Xilam is an integrated studio
founded in 1999 that creates, produces and distributes original
programmes in more than 190 countries for both children and adult
audiences. Xilam content is broadcast on television, and is also
available on SVoD platforms including Netflix, Disney+, Amazon and
AVoD streaming platforms including YouTube and Facebook.
With its creativity and capacity for innovation recognised
worldwide, its unique expertise in CGI, as well as editorial and
commercial expertise at the cutting edge of its industry, Xilam is
positioned as a key player of the market. Each year, Xilam builds
real successes and capitalises on its powerful historical brands
including Oggy and the Cockroaches, Zig & Sharko and Chicky, as
well as new properties such as Oggy Oggy for a preschool audience,
Mr Magoo and Karate Sheep, and Academy Award® nominated adult
feature film I Lost My Body. Additionally, Xilam is serving as the
animation studio for Zack Snyder’s animated series Twilight of the
Gods, launched worldwide on September 2024 by Netflix, and also
produces Chip ‘n’ Dale: Park Life, alongside the forthcoming horror
comedy The Doomies, for Disney+. Xilam’s expanding and strong
catalogue now consists of over 2,800 episodes and three feature
films.
Xilam employs more than 400 individuals, across its studios in
Paris, Angoulême in France and Ho Chi Minh in Vietnam. Xilam was
ranked France's leading animation studio for the 2018-2023 period
in a report by the French National Centre for Cinema and Animation
(CNC).
Xilam is listed on Euronext Paris Compartment C - PEA - SRD long
Eligibility.
ISIN: FR0004034072, Symbol: XIL
For more information, visit: www.xilam.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250212703937/en/
Marc du Pontavice – Chairman and CEO Cécile Haimet - CFO Phone:
+33 1 40 18 72 00 Image Sept Agency xilam@image7.fr Karine Allouis
(Media Relations) – Phone +33 1 53 70 74 81 Laurent Poinsot
(Investor Relations) – Phone +33 1 53 70 74 77
Xilam Animation (EU:XIL)
Gráfica de Acción Histórica
De Mar 2025 a Abr 2025
Xilam Animation (EU:XIL)
Gráfica de Acción Histórica
De Abr 2024 a Abr 2025
