Constantin Medien Releases Financial Numbers For '13, Struggles With Sports Sector
German media corporation Constantin Medien "has released its financial numbers for '13 and talked about a 'difficult year,' especially in the area of sports," according to Timo Niemeier of DWDL. The company generated €458.3M in revenue in '13. In November, Constantin expected revenue of €450M. The company's revenue decreased by 12% in comparison to '12, when it reported €520M. Constantin's sports sector is struggling the most. Sports-related revenue decreased by 9% to €147.4M. The sector reported a loss of €2.8M. In '12, the sports department reported a profit of €4.9M. The company said that the loss "was caused by the discontinuation of Bundesliga channel Liga total!, as well as the inability to monetize on Sport1's increased market shares." The company's EBIT stands at €8.3M -- after €21.6M in '12. For the current financial year, Constantin "does not expect a big economic boost." The company calculates with revenue between €420M-€460M ($577M-$632M) (DWDL, 3/27).