Germany's Odeon Film Slips in 2010 but Still in Black
Revenues were down 5.2% to $91 million but net profits were up nearly 8% to $1.6 million.
COLOGNE, Germany -- German production group Odeon Film had a rough 2010 but still ended in the black, with revenues down 5.2% to €64.6 million ($91 million) but net profits up nearly 8% to €1.1 million ($1.6 million).
Going forward, Odeon, which controls nine boutique film and TV production companies in Germany, plans to focus more on drama production. Earlier this month, it sold off its remaining interest in indie film distribution outfit Majestic to Majestic managing director Benjamin Hermann.
Odeon has been the target of repeated buyout attempts by several major German players, including Herbert Kloiber’s Tele-Munchen Group. But the company’s complex shareholder structure has so far made it impossible for any suitor to secure a deal.