Weak Box Office Drags Down Results at Constantin Medien
COLOGNE, Germany – Revenue dipped at Constantin Medien as weak box office performance and a drop in television production dragged down otherwise steady corporate results. Sales at Constantin fell 3.2 percent to $417 million (€309 million) while operating profits (EBIT) more than halved to $3.8 million (€2.8 million).
The drop was due to a weaker performance by Constantin’s film division. The group has a 47 percent stake in Highlight Medien, which in turn controls German mini-major Constantin Film. Constantin Film’s lineup this year has so far under-performed. Their top title, kids sequel Vicky and the Treasure of the Gods earned just $17 million at the German box office, less than half the original Vicky The Viking film in 2009, despite the sequel being in 3-D. Constantin’s big budget period actioner, The Three Musketeers, also came in under expectations, earning $16 million in Germany. Globally, Paul W.S. Anderson’s swashbuckling reboot has fared better, where it is closing in on a $120 million total take.
The net loss attributable to Constantin shareholders came it at $4.9 million (€3.6 million), compared to €8.6 million at this time last year.