All Stories
Follow
Subscribe to DEAG Deutsche Entertainment AG

DEAG Deutsche Entertainment AG

ots Ad hoc-Service: Dt. Entertainment AG <DE0005513907>

Berlin (ots Ad hoc-Service) -

The sender is solely responsible for the contents of this
announcement.
DEAG doubles profit 1999 again a
record year/e Berlin, February 3, 2000 According to the provisional
annual accounts for the business year 1999, DEAG (Deutsche
Entertainment AG) will double its profit. Whilst an EBITDA of DM 7.1
million and an EBIT of DM 5.1 million were generated in 1998, the
results could be increased by 100 % in 1999. The provisional EBITDA
amounts to approx. DM 14 million, with an EBIT of more than DM 10
million. Sales revenues rose by more than 20 % from DM 141.0 million
in 1998 to more than DM 172 million in 1999. This increase in sales
takes into account that two acquisitions made in 1999 were
consolidated at a later stage than originally planned. An inclusion
of these acquisitions over a full twelve month period in 1999 would
result in sales revenues of more than DM 200 million or a more than
40 % rise over 1998.
Hence DEAG again met its targets or even outperformed with the
second annual accounts after its IPO on 14 September 1998. This
successful corporate development was driven by a combination of
internal and external growth.
In the tour business DEAG proved that it is able to continue the
success story of the business years 1997 and 1998 and can provide the
market time and again with new highlights. Whilst the "Bridges to
Babylon" tour of the Rolling Stones, staged by DEAG, was the absolute
top tour event in 1998, DEAG could present in 1999 Marius
Müller-Westernhagen to an enthused audience of 650,000 and is
involved this year with Marshall Arts in the Millennium Tour of Tina
Turner. Furthermore, DEAG organised tours for other absolute top acts
including Aerosmith, Beastie Boys, Boyzone, Cher, Joe Cocker, the
Kelly Family, KISS, Meat Loaf, Metallica, Modern Talking and again
the Rolling Stones as well as many other artists. The business
operations involving the three variety theatres were just as
successful. They could increase again their capacity utilisation
against the previous year. In this segment a structure has been
created which will allow rapid expansion by other locations.
The external growth of DEAG was essentially marked by the
acquisition of a shareholding in the London-based Marshall Arts, one
of the world's leading tour agencies with excellent, long-standing
relationships with the "Who's Who" of the rock/pop business. With
this strategically significant extension of the value added chain,
DEAG has again improved its access to highly attractive international
content. On the other hand, the majority shareholding in North-Rhine
Westphalia's leading entertainment security service provider, Special
Security Services, the acquisition of Jahrhunderthalle Frankfurt and
the joint venture for urban entertainment center management with the
Hamburg-based Freizeit-Immobilien- und Unternehmensberatung Wenzel
Consulting AG, the market position on the downstream value added
levels could likewise be successfully strengthened.
Comment by DEAG CEO Peter Schwenkow: This external growth and the
earnings generated by it testify to the considerable reinforcement of
the market position of Germany's leading live entertainment service
provider in 1999. This excellent image also increasingly beefs up
DEAG's operations in the business-to-business field, which take the
form of, for instance, consultancy services for the industry and
co-operation with branded article manufacturers or media.
Consequently, we are confident that we will be able to continue this
growth successfully in the next millennium, too."
This Ad hoc Announcement and 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.
End
Internet: http://www.newsaktuell.de

Original content of: DEAG Deutsche Entertainment AG, transmitted by news aktuell