26/03/2008

The Scandinavian media giant Egmont, owner of Nordisk Film, had record revenues of €1.492m in 2007, up 21% from 2006. The group’s profits before tax also increased by 22% to €65m.

Nordisk Film alone improved its revenues by €97m to €449m in 2007, and its operating profits were over three times those of 2006 at €18m. Fifty-two feature films and more than 1,000 hours of television programmes were produced. Nordisk became co-owner of six companies in 2007, and bought a 50% share in Denmark’s leading production company, Zentropa, last February.

Egmont’s Norwegian television channel TV2 Group increased its overall market share in 2007 and its revenues were up by 14% to €319m. TV2 Norway launched new channels and invested in the Norwegian digital terrestrial network through its co-ownership of Risks TV. Outside the Nordic region, Egmont’s activities in Poland and Russia continued to expand and new businesses were also initiated in the US and the Ukraine.

“Practically all business areas made impressive contributions, which is highly satisfactory,” said Egmont’s president and CEO Steffen Kragh. “We continued Egmont’s international growth, strengthening the companies’ market positions in the film, TV, magazines and publishing businesses.”

“Egmont’s goal is continued growth and constant innovation. We are enjoying success as a supplier of content for books, magazines, music, film and TV and will stay on this track by focusing on rights and talents. We will also expand our TV broadcasting activities. Finally, we will continue developing Egmont’s media business outside the Nordic region,” concluded Kragh.