Senator sees turnaround in 2006
EmptyCOLOGNE, Germany -- German producer-distributor Senator Entertainment doubled revenue and booked a small pretax profit in 2006, a remarkable turnaround considering the company emerged from bankruptcy only last April.
In preliminary figures released Thursday, Senator said revenue climbed to €34.8 million ($46.5 million) last year, compared with €15.4 million in 2005. Pretax (EBIT) earnings were slightly positive after a €6.7 million EBIT loss a year earlier.
Senator heads Helge Sasse and Marco Weber said the swift turnaround showed Senator had major growth potential.
This year Senator plans to release about 20 films in Germany, compared with just six last year. In addition to in-house productions, including the comedy "Vollidiot" featuring German TV star Oliver Pocher, Senator's slate includes such U.S. titles as Quentin Tarantino and Robert Rodriguez's double bill "Grindhouse."
Senator will release its complete full-year figures in April.