Revenue, profits down at Constantin Film
German production/distribution giant sees TV biz hitCANNES -- German production/distribution giant Constantin Film saw a dip in both revenue and profits in 2008 as the gloomy economic climate hurt the company's TV production business. But a strong theatrical slate -- led by hits "The Baader Meinhof Complex" and "The Wave" -- softened the blow.
Overall, sales were down €23 million ($30.6 million) to €225 million ($300 million), with profit at €12.4 million ($16.5 million) compared to €15 million a year earlier.
Constantin said it was acting to counter the downturn in TV revenue by expanding into other markets, with plans to set up local television production operations in Greece and the Czech Republic this year. Constantin already has satellite firms in Poland, Romania, Croatia and Turkey.
For 2009, the Munich-based group is forecasting sales of €220 million-€240 million ($293 million-$320 million) and operating profits of €10 million-€12 million ($13 million-$16 million).