BERLIN — German producer-distrib Constantin Film has issued a profit warning for 2001, downgrading its anticipated sales for the year to DM 232 million ($104 million) from $127 million.
Constantin also posted dramatically lower sales for the first quarter, down 50% to $19.5 million. Company cited the lackluster domestic box office of “Enemy at the Gates” and “One Night at McCool’s.”
Constantin said it will try to improve its performance by upping the number of in-house movies it makes, arguing that they bring a higher profit margin. There are plans to invest $81 million in film production this year.
Constantin has been one of the few German outfits with regular homegrown hits, such as last year’s “Ants in the Pants” and the recent “Maedchen Maedchen.” There are eight productions in the works and a total of 25 films will be released in 2001.