Kinowelt posts boffo revs

Results up 76%

BERLIN — Film powerhouse Kinowelt Medien reported huge increases Wednesday in its 1999 financial results compared with the previous year.

Company said that revenues for 1999 climbed by 76% over 1998 to reach DM370 million ($179 million). Operating results were up from $15.4 million in ’98 to $25 million in 1999.

Finance honcho Eduard Unzeitig put the improved results down to strong biz in home entertainment, distribution and licensing.

Predicting a healthy year for 2000, Kinowelt is banking on its growing pan-European distribution network, its pact with Canadian powerhouse Alliance-Atlantis, DVD sales and joint ventures with top U.S. film producers.

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