BERLIN — Constantin topper Bernd Eichinger is stepping down from his corporate management seat to concentrate on film production amid company restructuring.
Constantin is separating corporate and creative production management to increase its production capacity. Company’s three major shareholders, Eichinger (25.2%), Kirch (21.3%) and EM.TV (16.5%), will remain unchanged.
EM.TV chief Thomas Haffa has resigned as supervisory board chairman but will remain on the board. He is being replaced by Kirch Media deputy chairman Fred Kogel.
Constantin is responding to the tremendous increase in production requirements. Inhouse production volume has more than doubled in the past year.
“We reached the leading position in the German market in all areas of our business last year,” Eichinger said. “Further growth will be influenced by our ability to continue increasing our production operations.”
Constantin also announced annual results, posting an 80% boost in sales last year to 119.3 million euros ($105 million) and pre-tax profits of $5.8 million, compared to losses of about $4.5 million the previous year. Revenues for 2001 are expected to reach $124 million, with cash flow of around $12.3 million.