'Resident Evil: Retribution' Revives Nine Month Revenue at Constantin
Sales up 20 percent and net profits hit $8 million as zombie actioner closes in on $225 million worldwide.
COLOGNE, Germany – A kick-butt Milla Jovovich and a whole lotta zombies helped German group Constantin Medien hit its targets for the first nine months of 2012.
Constantin, which produced the Jovovich-starrer Resident Evil: Retribution, posted nine-month figures Monday showing a 20 percent jump in revenues to $511 million (€370.8 million) with net profits for the period soaring to $8 million (€5.8 million) from just €100,000 a year earlier.
The latest Resident Evil film, the fifth in the Paul W.S. Anderson-directed franchise, has been a monster box office success globally, taking in upwards of $220 million so far.
Constantin has also had success in its core German market with the release of 3-D dance film Step Up Revolution, which earned some $14 million in the territory. Overall, revenue at Constantin's film division jumped 44.9 percent to $284 million (€206 million) in the first nine months of this year, compared to €142 million over the same period in 2011. Earnings at its film division nearly tripled to $8.3 million (€6 million). Constantin, however, warned shareholders not to expect the boom to continue through the fourth quarter, saying the bulk of film-related earnings for the year were already in.
In its other main businesses, sports and sports event marketing, Constantin saw flat to no revenue growth. The company's sports division increased sales 0.7 percent to $115 million (€111.6 million) with earnings up slightly to $2.5 million (€1.8 million). Revenue at its sports and event marketing division took a major hit, dropping nearly 15 percent to $65.4 million (€47.4 million), largely as a result of former Constantin client UEFA taking over the management of their soccer tournaments the Champions League and Europa League. Earnings in the marketing segment, however, nearly doubled to $12.8 million (€9.3 million) – mainly an accounting trick as last year's numbers were weighed down by amortization costs.
Constantin's group profits also took a $14 million (€10.4 million) hit due to amortization and impairments connected to the company's 47.3 percent stake in Swiss rights giant Highlight Communications.
While Constantin said it expects fourth quarter numbers to come in below those of last year, it still expects to hit its year-end target of group revenues of between $634 million - 662 million - (€460 million - €480 million).