'Expendables 2' Boosts Earnings at Germany's Splendid Medien
COLOGNE, Germany - Sylvester Stallone's The Expendables 2 has given an adrenaline boost to quarterly figures at German indie Splendid Medien. Splendid posted third quarter revenues of $17.5 million (€13.8 million), a 50 percent year-on-year jump, thanks to Expendables 2's stellar box office performance here, where the film has earned around $11.5 million since its August release. EBIT profits for the quarter were $1 million (€0.8 million), compared to €0.5 million in Q3 2011.
For the year so far, Splendid booked revenues of $45.2 million (€35.6 million) compared with €30.2 million over the same period in 2011. Before tax profits (EBT) were $2.9 million (€2.3 million) against €2.0 million this time last year.
On the home entertainment front, the first Expendables film has been a money-spinner for Splendid, as has Jean-Claude van Damme actioner Six Bullets.
More recently, Splendid scored a sell through hit with Nicolas Cage-starrer Stolen, which knocked Men In Black 3 off the top spot on the German DVD charts and took third place among Blu-Ray rental titles.
Given the success of the Expendables franchise, Splendid has upped its full-year estimate and is now expecting EBIT profits to come in at between $3.4 million - $4 million (€2.7 million - €3.2 million), about €1 million more than previously forecast.
Splendid said year-end revenues will come in at the top end of its expectations, set between $57 million - $62 million (€45 million - €49 million).