Company reaps $9 million net profit
BERLIN — Germany’s Constantin Film swung to a net profit of E7 million ($9 million) last year from a $12.8 million loss in 2003 and more than doubled revenues to $320 million, beating its targets for 2004.
Constantin, which had a huge success last year with “Downfall” and sci-fi comedy “Dreamship Surprise — Period 1,” attributed the upturn to increased corporate synergy and the addition of license trading, home entertainment and increased TV production to its traditional areas of operation, film production and distribution.
Company is producing two major projects this year, Bernd Eichinger’s adaptation of Patrick Suskind’s “Perfume,” which begins shooting in July, and comedy ghost pic “Hui Buh — Das Schlossgespenst,” starring Michael Herbig.
Investments in inhouse productions were down 54% to $64 million last year and included upcoming pics “The Dark,” “The Fisher and His Wife,” “The White Massai” and fantasy spoof “Siegfried.”
Constantin spent $25 million on the acquisition of rights for distribution and license trading.
Company said it was expecting sales of $246 million and an operational profit (before interest and tax) of $11.6 million in 2005.