'Expendables 2' Boosts Earnings at Germany's Splendid Medien
The action hit starring Sylvester Stallone and Arnold Schwarzenegger helps lift sales at the German indie 50 percent in the third quarter.
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).
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