TMG Reports Record Performance in 2010

MUNICH: Herbert Kloiber’s Tele München Group says it achieved record revenues in 2010, with an operating EBITDA of $113.2 million.

TMG’s revenues rose to $466.37 million from $430.61 million. The company also reported that the CinemaxX, theater chain, in which Kloiber holds a 74-percent stake, delivered a 5-percent gain in revenues to $305.5 million and a pre-tax profit of $26.8 million, a 41-percent gain.

The combined revenues of TMG/CinemaxX were $762.9 million, an increase of 7 percent. The overall performance of the media group reached $815 million.

Increases were reported across licensing, theatrical distribution, DVD distribution and merchandising, which all recorded strong increases. Concord Filmverlieh, TMG’s independent theatrical film distributor, reported its best year, as did Concord Home Entertainment.