While Germany's VCL Film + Medien has flagged ambitions to move into the UK, Benelux and Scandinavia and last year made a splash on the production finance scene, the company delivered on-target results powered by its German home entertainment business. Rated Germany's number two video distributor with a 12.2% market share, VCL saw its video and DVD grow 25% from Euros36.4m to Euros45.5m.
VCL, whose shares tumbled by over 70% from their highs, was among the companies coming under close scrutiny from financial analysts. Analysts turned negative on the German media sector following a crop of disappointing results and company crises.
The company's turnover in the year to end of November 2000 increased 28% to Euros60.7m compared with Euros47.4m in 1999. Earnings before interest, tax and depreciation climbed 21% from Euros18m to Euros 21.8m. Net profits grew 86% to Euros4.1m. Earnings per share, diluted by the issue of shares for the acquisition of Scanbox, improved 71% from Euros0.14 to Euros0.24.