DEAG Deutsche Entertainment AG

ots Ad hoc-Service: Dt. Entertainment AG DEAG increases earnings in 1st half-year by almost 50% Musical subsidiary STELLA generates seven-figure profits

The sender is solely responsible for the contents of this announcement. -----------------------------------------------------     Berlin (ots Ad hoc-Service) - On the basis of provisional figures at the end of the Second Quarter 2000, DEAG has achieved a combined turnover for the first half-year of DM 124.8 mil, which represents an increase of more 34% in comparison with the first six months of the previous financial year (1999: DM 93.8 mil) The earnings before interest, tax and depreciation (EBITDA) of DM 3.4 mil have improved by 48% over the same period last year (1999: DM 2.3 mil).

    The growth in turnover for the first half-year is attributable to the theatre operations. This year the concert season will be concentrated in the third quarter, with the tours of Tina Turner and Bon Jovi - in contrast to the previous year when a large proportion of the revenues was achieved in the second quarter with the Westernhagen tour. The newly-acquired 90%-holding in the Swiss Good News Productions AG will only be consolidated from 1st July 2000.

    All nine theatres are currently performing above expectations. In particular, it is pleasing that STELLA Musicals, in the first quarter after its integration in the DEAG Group, has been operating on average at 60% of capacity, and has already been able to generate EBITDA-earnings of several million DM. For the year overall, the target is for it to operate at 65% of capacity. This result does not yet take into account the effects of the Family & Friends campaign, which has got off to a very promising start, particularly in the musical theatres, and has resulted in sales of some 10 000 tickets every day since the beginning of July. This marks a return to the previous successes of STELLA.

    The greater proportion of the turnover in the current financial year will be achieved in the third quarter with the tours already mentioned and the consolidation for the first time of Good News, and in the fourth quarter with the traditionally strong Autumn and Christmas seasons in the Theatre division.

    The detailed financial report for the second quarter will be published as planned on 24th August 2000.

    This Ad hoc announcement and other information can be accessed in the DEAG-News Archive under or you can contact Dr. Martin Fabel, Phone +49 (0)30 810750.

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