Constantin Film boosts year-end forecast
Rides success of 'Wave,' 'Baader Meinhof'COLOGNE, Germany -- Constantin Film has boosted its year-end forecast following nine strong months in which the German indie producer/distributor rode the success of local-language hits "The Wave" and "The Baader Meinhof Complex."
Constantin now expects to earn at least 250 million euros ($326 million) this year, $26 million more than previously forecast, and book an operating profit of at least $18 million, or almost $3 million higher than its initial predictions.
In the nine months ending Sept. 30, Constantin, which is controlled by Swiss group Highlight Communications, booked sales of $217 million, a 4% year-to-year drop that the company attributed to a decline in its TV production business. Net income, however, was up sharply at $11 million against just $2 million a year earlier. Earnings per share soared almost 400% to $0.87 a share.
German-language theatrical productions have buoyed Constantin's bottom line. Dennis Gansel's thriller "The Wave," about teen fascism, earned about $20 million at the boxoffice, while Uli Edel's terrorist biopic "The Baader Meinhof Complex" has brought in some $22 million and counting.