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 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
End
Internet: http://recherche.newsaktuell.de

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

More stories: DEAG Deutsche Entertainment AG
More stories: DEAG Deutsche Entertainment AG