First Half Flat for Constantin Medien
Profits, revenue at German rights group in line with forecasts.
COLOGNE, Germany -- Sales and profits at sports and film rights group Constantin Medien dipped slightly in the first half of 2011 but the numbers fell within the company's own forecasts for the period. The German group booked net profits of just over $1 million (€700,000) on sales of $290 million (€200.4 million), a slight year-on-year dip. Losses attributable to Constantin shareholders were $2.6 million (€1.8 million), down from €3.3 million over the same period in 2010.
Revenue from the company's core businesses were flat but its sports marketing division saw an uptick, boosting revenues nearly 3% to $52 million (€36.1 million) thanks to stronger sales of marketing rights to the UEFA Champions League and UEFA Europa League soccer tournaments. Higher costs, however, mainly linked to volatile exchange rates, meant earnings from the marketing division slipped to $4 million (€2.8 million) from €5.5 million a year earlier.
Constantin confirmed its year-end forecast, saying it expects revenues of between $677 million - $706 million (€470 million - €490 million) for the year and a loss attributable to shareholders of between $8.6 million - $10 million (€6 million - €7 million). Constantin holds a 47.3% stake in Swiss media group Highlight which in turn controls German film production/distribution group Constantin Film.
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