TMG claims bumper year

Operating profit at German media house Tele München Group (TMG) reached €64m (US$82.3m) last year, largely thanks to its broadcast business.

TMG’s annual financial results did not give a net profit figure but said operating earnings before interest, taxation, depreciation and amortisation (EBITDA) were the third highest in the firm’s 42-year history. Overall gross revenue for 2011 stood at €300m.

Combined with sister film business CinemaxX, operating EBITDA was €106m and revenue €520m.

TMG singled out the “development” of its TV channels Tele 5, ATV and RTL2 as “particularly buoyant,” as the trio “significantly” increased their market shares and revenue. In Austria, this led to the launch of ATV2 in November 2011.

TMG owner Herbert Kloiber said he expected ATV to become profitable within three years in 2009. No specific figures were given today and TMG couldn’t be reached for further comment at press time.

TMG, best known as the producer of miniseries such as Moby Dick, has assets in broadcasting, television distribution and film. It owns 42% of German producer Odeon Film following a move to increase its stake last August.

Last month, Munich-based TMG took TV and new media rights to upcoming Marvel superhero movie Iron Man 3 for Germany, Austria, Switzerland, Liechtenstein, Luxembourg and the Italian region of Alto Adige.