Once again, our team engaged in an eclectic range of visual storytelling, with feature films, drama series, entertainment formats, TVCs and print campaigns all visiting our Spanish shores over the course of the year.<\/p>\n
This diversity and breadth of work saw our financial performance rebuild with Billings reaching 29.4\u20ac (13.7M\u20ac), with revenues at 17.98M\u20ac (7.3M\u20ac) and EBITDA at 1.23M\u20ac (-484K\u20ac) for the Palma Pictures Media Production Group.<\/p>\n
We shot projects throughout Spain, with units enjoying the varied backdrops of locations in areas such as; Mallorca, Barcelona, Cadiz, Madrid, Malaga and Tenerife.<\/p>\n
Our staff and freelance crews worked tirelessly to deliver \u2018Picture Perfect Service\u2019<\/em> to our varied clients and we were happy to bolster our talent base by welcoming Sian Saunders to the team as \u2018Head of Photo & Motion\u2019.<\/p>\n Film & TV workflows resumed after the forced hiatus of 2020 and we were delighted to host; Happy Madison \/ Netflix \u2018Hustle\u2019<\/em>, as well as Leftbank Pictures \/ Netflix \u2018The<\/em> Crown \u2013 Season 5\u2019.<\/em><\/p>\n We finished the year with several confirmed projects in the pipeline for early \u201922 and with a significant pipeline of work going forwards over the course of the year.<\/p>\n Our entertainment formats enjoyed their best year ever, with ITV Germany\u2019s \u2018Love<\/em> Island \u2013 Winter Special\u2019<\/em> and the \u2018Love Island\u2019<\/em> summer show shooting in both Tenerife and Mallorca respectively. The broadcaster also brought \u2018My Best Gay Friend\u2019<\/em> and \u2018Love Story\u2019<\/em> to Mallorca over the spring and summer. And we were thrilled to welcome back ITV UK\u2019s \u2018Love Island\u2019<\/em> after an enforced year long absence due to Covid.<\/p>\n Our dedicated talent agency, continued to gather momentum and had another strong year, with expectations that 2022 will be our best year to date for this business area.<\/p>\n CSR activities continued apace and we passed our environmental audit for the eleventh year running, retaining both our ISO 14001 and EMAS certifications. Other activities included our ongoing support for local charities.<\/p>\n We maintained our annual investment program, albeit at a slower pace, in order to maintain liquidity in the face of uncertain trading environment. However, with 2022 spend scheduled to significantly increase.<\/p>\n We launched our Compliance program, under the leadership of our CFO, Ramon Caravaca and continued to enhance our IT architecture, across locations and casting databases, as well as HR and budgeting software.<\/p>\n Our mainland offices in Barcelona and Madrid serviced some great TVC work for brands such as \u2018Doritos\u2019<\/em>, \u2018BP\u2019<\/em> and \u2018Hyundai\u2019<\/em>.<\/p>\n \u2018Palma Pictures Studios\u2019, our UK based production company headed up by our managing partner, Trent Walton, continued to build its inaugural development slate and we were pleased to secure further underlying intellectual properties over the course of the year, moving our active slate into double figures. Now actively hunting commissions we are excited as to what the year ahead holds for us.<\/p>\n We were happy to finally conclude our ERTE (furlough) governmental assistance at the end of the year and proud that we managed to keep our team 100% intact over the challenging Covid years of 2020 and 2021.<\/p>\n Worthy of mention is the solidarity and determination that our team members exhibited over the past tough months and, due to their exceptional spirit and hard work, we have been able to accelerate back to pre-Covid work flows without missing a beat. A testament to the strong company culture we have strived to build over the past years.<\/p>\n So, all in all, a progressive year and one in which we collectively felt that Covid was gradually moving into our rear-view mirror. With abundant new opportunities to create and execute arresting new content firmly on our horizon, we move into 2022 with renewed energy and optimism.<\/p>\n I will look forward to sharing both our challenges and successes in the next edition of our Palma Pictures Annual Report.<\/p>\n <\/p>\n Mike Day<\/strong> We also welcomed some fabulous new chefs to our studio restaurant, in the form of Yann and David, to keep both our team and clients happy and well fed.<\/p>\n We continued ‘busting silos’, with our production, locations and photo teams all working hand in hand within our production pool. Better communication, tighter collaboration and a wealth of shared experience also helped drive our internal team satisfaction poll to its highest level since we launched it some years ago.<\/p>\n Film & TV workflows were our strongest to date with projects including Leftbank \/ Netflix \u2018The Crown – Season 3\u2019<\/em>, NBC Universal \/ Amazon \u2018Hanna<\/em>\u2019, BigTalk \/ SkyOne \u2018Living the Dream\u2019<\/em>, Clerkenwell Films \/ BBC \u2018The Mallorca Files<\/em>\u2019 and BBC Studios \u2018MotherFatherSon<\/em>\u2019, as well as a host of others choosing to shoot against the diverse backdrop of our Spanish locations. We also continued to take advantage of the 20% national tax rebate for long form projects helping to make Spain an even more competitive shooting destination.[\/vc_column_text][\/vc_column][\/vc_row][vc_row disable_element=”yes”][vc_column width=”1\/2″][vc_column_text el_class=”destacado”]Film & TV workflows were our strongest to date with projects for Netflix, Amazon, SkyOne and BBC.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][\/vc_column][\/vc_row][vc_row disable_element=”yes”][vc_column width=”1\/3″][\/vc_column][vc_column width=”2\/3″][vc_column_text]We hosted three \u2018Love Island<\/em>\u2019 shows for ITV Studios with versions for the UK, Germany and even Australia.<\/p>\n CSR activities continued apace and we passed our environmental audit for the ninth year running, retaining both our ISO 14001 and EMAS certifications. Other activities included our ongoing support for local charities, with forty of our team once again spending the day planting trees at the beautiful bird sanctuary of s’Albufera.<\/p>\n We maintained our annual investment program to keep our studio complex and equipment inventory abreast of ongoing technical innovations in content capture with 500K\u20ac allocated over 2018 \/ 2019.<\/p>\n We overhauled our IT architecture with new human resources and customer relationship management software.<\/p>\n We opened an office in the capital of Madrid that, alongside our existing office in Barcelona, strengthened our mainland offering and serviced some great work for brands such as \u2018Audi<\/em>\u2019, \u2018Head & Shoulders<\/em>\u2019 and \u2018Hotels.com<\/em>\u2019.<\/p>\n So, all in all, an exciting and action packed twelve months with great teamwork delivering a great result. We\u2019ll look forward to sharing our latest news with you in the next edition of our Palma Pictures Annual Report.[\/vc_column_text][vc_column_text]\n Palma Pictures CEO[\/vc_column_text][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":" [vc_row][vc_column width=”1\/3″][\/vc_column][vc_column width=”2\/3″][vc_column_text] CEO Comment [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/3″][\/vc_column][vc_column width=”2\/3″][vc_column_text el_class=”intro-txt” css=”.vc_custom_1559812915806{margin-bottom: 10px !important;}”] Dear Colleagues, [\/vc_column_text][vc_column_text]2021 was best characterized as a recovery year and, although we continued to operate within the uncertain environment of Covid-19, we made considerable head way across multiple fronts. Once again, our team engaged in an eclectic range of visual storytelling, with…<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":37,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false},"_links":{"self":[{"href":"https:\/\/annualreport.palmapictures.es\/annualreport2021\/wp-json\/wp\/v2\/pages\/39"}],"collection":[{"href":"https:\/\/annualreport.palmapictures.es\/annualreport2021\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/annualreport.palmapictures.es\/annualreport2021\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/annualreport.palmapictures.es\/annualreport2021\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/annualreport.palmapictures.es\/annualreport2021\/wp-json\/wp\/v2\/comments?post=39"}],"version-history":[{"count":5,"href":"https:\/\/annualreport.palmapictures.es\/annualreport2021\/wp-json\/wp\/v2\/pages\/39\/revisions"}],"predecessor-version":[{"id":127,"href":"https:\/\/annualreport.palmapictures.es\/annualreport2021\/wp-json\/wp\/v2\/pages\/39\/revisions\/127"}],"up":[{"embeddable":true,"href":"https:\/\/annualreport.palmapictures.es\/annualreport2021\/wp-json\/wp\/v2\/pages\/37"}],"wp:attachment":[{"href":"https:\/\/annualreport.palmapictures.es\/annualreport2021\/wp-json\/wp\/v2\/media?parent=39"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nPalma Pictures CEO[\/vc_column_text][\/vc_column][\/vc_row][vc_row disable_element=”yes”][vc_column width=”1\/2″][vc_column_text el_class=”destacado”]We welcomed production teams from 9 territories to shoot their projects throughout Spain.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][\/vc_column][\/vc_row][vc_row disable_element=”yes”][vc_column width=”1\/3″][\/vc_column][vc_column width=”2\/3″][vc_column_text]Our staff and freelance crews worked tirelessly over the course of the year to deliver \u2018Picture Perfect Service<\/em>\u2019 to our varied clients. We were delighted to bolster our talent base and made a spate of new hires including; Cat Isaakson (Head of Production<\/em>), Peter Steinzeig (Executive Producer \u2013 USA<\/em>), Soeren Schmidt (Executive Producer \u2013 Germany & Head of Barcelona Office), <\/em>Kristyna Podolska (International Producer \u2013 Eastern Europe & UK Market<\/em>) and the Goya winning Yousaf Bokhari (Head of Production Film and Television<\/em>) all having joined our team.<\/p>\nMike Day<\/h4>\n