Pantaflix - Bouncing back

Pantaflix had a tough FY20, but expects a strong recovery in FY21 with management guiding to revenues of at least €30m. COVID-19 was very disruptive to production and release schedules but the pace has picked up notably in FY21. Management expects the FY21 EBIT loss to narrow to between €2.5m and breakeven, with market forecasts anticipating an even better outturn. The group has been making good progress with its B2B offering and is keen to scale its production slate in film and episodic. In May, the balance sheet was buoyed by a further 10% placing, raising €2m, following one in November 2020 that raised €1.7m.