German producer-distributor Constantin Film has posted a 10% increase in sales to Euro 94.6m, but also a 64% increase in net losses to Euros 7.36m, (from 2001's loss of Euros 4.5m) according to the nine-months report to September 30, 2002.
International sales revenues were up 78% on the previous year 'to Euros 18.9m 'thanks in large part to Paul Anderson's Resident Evil, which has clocked up over $100m international box office. Consequently, script development is now underway for a second Resident Evil film which is set to start shooting in the first half of 2003.
Constantin's management expressed confidence about the future "in spite of the fact that the overall economic situation remains critical." Thanks to the successful cinema release of such in-house productions as Nackt and Bibi Blocksberg, the Munich-based player had built up its market share in the distribution of German features to 47.5%.
According to its forecasts, Constantin will "maintain the targets for the year, i.e. moderate sales growth and an EBIT margin of 2%-5%."
This year will see Constantin releasing a total of 20 feature films Germany: 11 in-house and co-productions, two films from output deals, three service films and four pick-ups.
As the only German company to make any substantial acquisitions at this year's MIFED, Constantin stated that, in future, it intends "to continue covering all promising genres not only in German and international in-house and co-productions but also in the acquisition of rights to third-party productions."