Constantin boasts of record profits

'Perfume' lifts revenue at German producer-distributor

BERLIN — Constantin topper Fred Kogel credited blockbuster “Perfume: The Story of a Murderer” with helping the company make landmark profits in a strong year of growth for cinema despite fierce competition from the World Cup soccer tournament.

“We’ll be posting a record result for 2006,” Kogel told the Frankfurter Allgemeine Zeitung. He said he expects operating profits (earnings before interest and taxation) to exceed the previous record of E14.8 million ($20.1 million) set in 2004. In 2005, Constantin had operating profits of $13 million on revenue of $254 million.

Even though “Perfume” cost Constantin $60 million to make, it proved to be well worth the investment with a box office take of $50.5 million in Germany alone.

But Constantin also benefited from a strong 8% increase in German box office, which totaled $706 million.

That was a strong improvement after a 19% drop in 2005.

Kogel said he was confident the upturn would carry on into 2007.

“I think an increase of five to 10% is quite possible,” he said. The basis for that optimism, he said, is the fact that new installments of several successful films, such as “Harry Potter,” “Shrek” and “Spider-Man,” are due in 2007.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety