TMG Records Strong Overall Performance

MUNICH: Recording its third-highest results in the company’s 42-year history, Tele München Group (TMG) posted an operating profit of 64 million euros ($82 million) on revenues of 300 million euros ($386 million).

The CinemaxX theater chain, which TMG owns a 75-percent share in, generated revenues of 223 million euros and pre-tax profit of 24 million euros. The combined revenues of TMG/CinemaxX were 520 million euros with an operating EBITDA of 106 million euros.

TMG’s TV operations, including Tele 5, ATV and RTL II, increased market shares. TMG added ATV II as a new member of its broadcasting group in Austria in the fourth quarter of last year.

Concorde, TMG’s distribution subsidiary, was the number one German independent distributor for the second consecutive year. It pulled in 60 million euros at the German box office, thanks to films such as The Twilight Saga: Breaking Dawn (part 1) and Midnight in Paris.