Luc Besson's EuropaCorp Reports Strong Growth in Third Quarter Results
Production and distribution company's revenue surges on the strength of "Taken 2."
PARIS - Luc Besson’s production and distribution company EuropaCorp announced a 61 percent revenue increase in year-over-year revenue to $48.7 million (€36.5 million) when it released its quarterly results Thursday night.
The company credited the success of the Besson-produced blockbuster Taken 2, starring Liam Neeson, which has grossed $374.2 million (€280 million) around the globe since its release in October 2012 as well as significant growth in its TV production division.
The success of the original Taken and its sequel, Taken 2, were credited with growth in several sectors including French ticket sales, international sales and royalties.
The company also noted a 27 percent rise in TV series revenue, to $13.3 million (€10 million) mainly due to the delivery of Canadian drama XIII, starring Stuart Townsend and Aisha Tyler, to Canal Plus and French spy series No Limit to TF1.
EuropaCorp also announced the launch of a capital increase of $26-30 million (€20-23 million) to finance its diversification into the development of multiplexes on Feb. 5. The first twelve-screen, 2500-seat theater will be part of the new Aeroville mall near Charles de Gaulle airport due to open in late 2013, with a second slated for the southern city of Marseilles in 2015. The company hopes to eventually build 8-10 theaters across France.
The new shares will be issued at a price of €3.18. Besson’s holding company FrontLine will subscribe to the stock, as well as venture capital firm Habert Dassault Finance and government finance arm Caisse des Depots.
EuropaCorp's latest co-production Mobius, Jean Dujardin’s first film since his Oscar win for The Artist last year, opens Feb. 27 in France.