Windmill Lane gets 'Terminal' bonus from Robbie movie
Windmill Lane Pictures' completion of post production on Hollywood star Margot Robbie's new movie is expected to boost the fortunes of the Dublin firm this year.
CEO Dave Quinn said yesterday that the company has just delivered the movie 'Terminal' for Ms Robbie's production company, Lucky Chap Entertainment.
The movie is a dystopian vision set in the near future starring Robbie, Simon Pegg and Mike Myers.
Mr Quinn said that his firm is also working on the new Neil Jordan movie 'The Widow'. Mr Quinn was commenting on new accounts which show that the Windmill Lane Pictures Ltd last year sustained losses of €317,677 and this followed losses of €207,071 in 2015.
This followed the company's gross profit decreasing by 18pc from €3.14m to €2.579m last year. The loss last year takes account of non-cash depreciation costs of €423,632.
"2016 was a challenging year for the whole media industry in Ireland and as a result we were significantly affected by this. Substantial operating costs were incurred as the company invested in new future revenue streams," said Mr Quinn.
"We were naturally disappointed with the final 2016 outcome although our earnings before interest, tax, depreciation and amortisation (ebitda) was reasonably positive. We broadly feel that we will have a somewhat similar, but perhaps slightly better outcome in 2017 as we had in 2016. However, we feel we are now better structured and focused to deliver a return to profitability in 2018. We already have a large slate of confirmed projects in for Q1 and Q2 of 2018."
Mr Quinn said that the firm has "spent much of 2017 reducing our overheads and operating costs and feel we have now aligned ourselves much better with the constraints many of our clients are under and the significant tightening of production budgets in 2017".