DEAG Deutsche Entertainment AG
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DEAG confirms doubling of profits during business year 1999 and enters into long-term, extensive tour contracts with a ticket sales volume of DM 100 million/e
DEAG (Deutsche Entertainment AG) confirms the provisional 1999 annual accounts already announced in advance on 3 February according to which sales revenues grew by more than 20% compared with 1998 to DM 170.0 million, and an overproportional improvement of the result could be achieved. The EBITDA reached DM 13.4 million (+90%) and the EBIT could be almost doubled: it rose by +95% to DM 10.0 million. The detailed annual accounts for the business year will be presented at the accounts press conference in Berlin this morning and at a DVFA conference in Frankfurt/Main in the afternoon.
On the eve the Supervisory Board approved the conclusion of comprehensive tour contracts in the Artists & Tours segment with Bon Jovi, Howard Carpendale and Andre Rieu. In this way DEAG underpins its leading position in the national and international tour business.
In August and September of this year the proven cooperation with the Marek Lieberberg concert agency will be continued: six open air concerts will be staged in Germany with the international top act Bon Jovi, at which a total audience of more than 250,000 is expected. Bon Jovi is together with the European Tour of Tina Turner, organised by the DEAG company Marshall Arts and Michael Flatleys "Feet of Flames" amongst the outstanding events of the open air season.
In addition, a contract has been signed with Howard Carpendale, one of the most successful German-speaking entertainers, for a total of 30 concerts in March and April 2001. DEAG expects more than 90,000 visitors to attend the concerts in Germany.
The so far most extensive and longest-term tour contract in its corporate history could be signed by DEAG with Andre Rieu, the "King of Waltz". Andre Rieu has repeatedly reached gold and platinum status in many countries around the world, including Argentina, Canada, France, Germany, the Netherlands and Spain. Whilst tour contracts are usually entered into for one year or on a project basis, this exclusive contract has a duration of four years and covers all concerts of Andre Rieu in Europe, with the exception of two countries. 200 concerts are planned over the entire four year period, with a ticket sales volume of more than DM 80 million. The contractual package also encompasses galas, sponsoring and TV recordings as well as comprehensive cooperation in the field of e-commerce.
"With this contract DEAG is clearly heading for 'one-stop shopping', an approach which is increasingly preferred by artists and is also increasingly offered in a sector which is becoming more industrially structured", comments DEAG CEO Peter Schwenkow. "DEAG will continue to focus its efforts on securing the continuity of its business operations through even more comprehensive and longer term contracts. We are looking forward to the trendsetting cooperation with Andre Rieu."
Further information can be accessed in the DEAG News Archives under www.deag.de/ir. Please direct inquiries to Dr. Martin Fabel, Tel. 030-810750
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Original-Content von: DEAG Deutsche Entertainment AG, übermittelt durch news aktuell