Ymagis Group (FR0011471291, MAGIS, PEA-PME, TECH 40), the European specialist in digital
technologies for the film industry, has decided to ask the Commercial Court of Nanterre to place one of
the French subsidiaries of its Eclair business unit, Eclair Cinema SAS, in receivership given the
performance of its activities in post-production and the restoration of cinematographic and audio-visual
Eclair Cinema represented 5.5% of Ymagis Group’s revenue for the first half of 2018 and almost
all losses recorded over this same period. In 2017, the subsidiary generated revenue totalling €12.4M.
Eclair Cinema mainly focuses on the French market in the post-production and restoration sectors,
activities which are severely affected by: (i) fierce competition, (ii) shrinking markets in terms of volume
and value, and (iii) the announced decline in restoration project financing by public bodies.
Subject to the decision of the Court, Eclair Cinema plans to implement a thorough restructuring of its
activities, refocusing them towards specialisation in an innovative service offer for creative teams and
post-production laboratories, and adjusting its production capacities in restoration.
This procedure and the measures which will be set up under the authority of the Court should enable
Eclair Cinema to redress its operation and ensure its long-term future.
In this way, the Eclair business unit will be better able to concentrate its efforts and investments on its
adaptation activities (subtitling, dubbing), digital distribution, preservation and content delivery to
cinemas (films, live events, etc.) and on the digitalisation of its services. The implementation this year of
the EclairTrack and EclairPlay platforms which use the EclairBox and EclairExpress technological solutions
are the first positive results of this policy, which will continue in the coming weeks with new platforms for
rights-holders being brought to market (EclairSend, EclairScreener and EclairStore, among others).
This decision reflects the Group’s determination to steer its activities towards promising sectors and profit
Ymagis Group states that the holders of its EuroPP loan have unanimously given their agreement to this
operation, in accordance with the provisions of the issuance contracts for these loans.
In line with the applicable regulations, Ymagis Group will issue statements at each new stage of the