German producer-distributorConstantin Film's fortunes are on the up again after first quarter revenuesincreased 154% over the previous year thanks largely to the full consolidationof Constantin Entertainment and free-TV sales for Resident Evil.
The Group posted revenues of Euros60.6m for the first three months of 2004, compared to Euros 23.9m for the sameperiod last year.
Theatrical distribution revenuesmore than doubled year-on-year from Euros 4.2m to Euros 8.8m thanks to releasessuch as Lost In Translation and The Passion Of The Christ.
Revenues for home entertainmentincreased by Euros 2m to Euros 4.6m, while the turnover with the licensing ofTV rights almost doubled from Euros 11m to Euros 19.9m.
Constantin forecast that revenueswill increase for the overall financial year by over 55% to more than Euros180m and that it will reach a positive EBIT of at least Euro 6m.
The Munich-based group is basingthis positive outlook on a strong distribution programme this year - includingMichael "Bully" Herbig's (T)Raumschiff Surprise - Episode 1,the follow up to the blockbuster Manitou's Shoe - the joint distributionoperations with Highlight Communications in the video and DVD sector, and thesuccessful integration of Constantin Entertainment into the Constantin FilmGroup.
The upbeat news comes afterConstantin's financial statement for 2003 reported a 13% decrease inconsolidated revenues from 2002's Euros 131.2m to Euros 114.3m and ChiefFinancial Officer Daniel Wiest announced his departure from the company at theend of May.