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A politically-incorrect school-days comedy has helped revive fortunes at German mini-major Constantin Medien, which saw sales in its film division jump nearly 25 percent in the first nine months of this year to $279 million (€223.6 million).
The results were helped in no small measure by home entertainment revenues from hit German-language comedy Suck Me Shakespeer. The division turned a $7.5 million (€6 million) profit after losing $2.5 million (€1.9 million) in the same period last year.
Constantin, already a major player on the German TV production scene, is looking to go global with its small-screen business and is planning TV series based on several of its film franchises, including YA fantasy series The Mortal Instruments and sci-fi horror Resident Evil.
Overall, Constantin’s nine month results showed a 14 percent jump in revenue to $451 million (€361.6) and a net loss attributable to Constantin shareholders of $9.97 million (€8 million). The company’s sports division, which operates the network Sports1, saw some improvement over last year.
Constantin CEO Bernhard Burgener said the company had shown “great progress,” particularly in the digitalization of its traditional businesses.
Constantin boosted its full-year forecast and now expects losses attributable to shareholders of $8.7 million-$11 million (€7 million – €9 million), down from $16 million-$18.7 million (€13 million – €15 million). The company still expects to boost full-year revenue to $573 million-$623 million (€460 million – €500 million).
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