ots Ad hoc-Service: Intertainment AG <DE0006223605> Intertainment posts strong earnings increase
EBIT growth of 848 percent in first six months of 2000
Munich (ots Ad hoc-Service) -
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Intertainment AG, the Neuer Markt listed media Company has posted an increase in earnings before interest and tax (EBIT) of 848% in the second half of 2000 compared with the same period last year. Turnover increased by 949% over the same period.
EBIT for the first six months of 2000 was EURO 32.5 mm compared with EURO 3.4 mm in the first half of 1999. Turnover increased to EURO 68.7 mm for the first half 2000 from EURO 6.6 mm in the same period last year. The significant growth in earnings was primarily generated by revenues in theatrical, video and TV exploitation. These figures include the expenses incurred for theatrical licenses and theatrical releases of "Battlefield Earth" starring John Travolta and "The Whole Nine Yards" starring Bruce Willis.
Barry Baeres, CEO of Intertainment, looks forward to further strong earnings growth resulting from the agreement signed with the successful Hollywood producer Arnold Kopelson two months ago. As a result of this deal, Intertainment holds exclusive world-wide lights to all movies produced by Kopelson for the next five years. Kopelson's last ten movies generated receipts of USD 2 billion at the box-office alone.
This press release is not an offer for safe of securities in the United States or in any other jurisdiction. The securities may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. There is no intention to register any portion of the offering in the United States or to conduct a public offering of securities in the United States.
Presscontact:
Intertainment AG Bernd M. Zander Osterfeldstr. 84 D-85737 Ismaning
Tel.: 089-21699-0 Fax : 089-21699-11 e-mail: bzander@intertainment.de
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Original-Content von: Intertainment AG, übermittelt durch news aktuell