After a capital expansion of Euros 50m in September 2003from public sector sources, Filmax Entertainment consolidated its position inthe market last year according to its annual results, announcing revenues ofEuros 91.8m, a 11.4 percent hike from 2002 revenues.

A mini-studio involved in production, exhibition anddistribution, Filmax's pre-tax profits for 2003 stood at Euros 6.7m, with12.3 percent of turnover coming from international sales. The studio isincreasingly becoming involved in English-language production, fully financingBrad Anderson's Sundance title The Machinist, and horror pictures such as Romasanta: TheHunt For The Beast alongside Rottweiler, directed by Brian Yuzna.

It is also more active in animation, with two titles, ElCid: The Legend and P3K:Pinnochio 3000 in competition at the AnnecyIntl Animated Film Festival. On the exhibition side, following the success of aFilmax multiplex in the centre of Barcelona, the company is forging ahead withnew complexes in Galicia, Pontevedra and Barcelona.