IM Internationalmedia generated Euros 75m - 85m in the first half of 2002 thanks to The Dangerous Lives Of Altar Boys and overages from such films as Traffic and The Wedding Planner, according to preliminary figures for the second quarter which will be officially released on August 29.
IM reported that its (EBITA) would be between minus Euros 12m - 15m, while the EBITA for the overall financial year would pan out at between Euros 21/25m "due to reduced costs and planned film starts in the second half".
A positive operating result is expected in the third quarter from K-19: The Widowmaker (which opens in the US on July 19).
The interim report noted that IM's cash position contracted from $95m to $60m in the first quarter mainly due to investment in such projects as Terminator 3.
Meanwhile, there is still life (after all) in another publicly listed German media house Advanced Medien. The company's principal banker Delbrueck & Co has extended a line of credit. which should have become due on June 30 2002, to March 2003, albeit on a reduced level.
In the first six months of 2002, Advanced managed to shave off almost Euros 2m in current liabilities due to banks in Germany from Euros 11.36m on December 31, 2001, to Euros 9.39m as of June 30.