DEAG Deutsche Entertainment AG

ots Ad hoc-Service: DEAG AG DEAG confirms Jan.-Sept. figures: Turnover, profits more than doubled in third quarter

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    Berlin (ots Ad hoc-Service) - DEAG confirms Jan.-Sept. figures: Turnover, profits more than doubled in third quarter / e

    DEAG Deutsche Entertainment AG (WKN 551 390) has confirmed, after closure of the third-quarter results, its turnover and EBITDA for the first nine months of 2000. The results were published in advance at the DVFA Media & IT Forum. Earnings before interest, tax and depreciation (EBITDA) in Jan.-Sept. were up 103% to DM13.2 million from the previous year's DM6.5 million. Revenues in the same period were up 132% to DM285.1 million from DM123 million.

    Forecasts for the financial year 2000 - turnover in excess of DM500 million and an EBITDA of roughly DM29 million - are also reaffirmed in view of outstanding developments in the theatres segment (STELLA musicals and variety theatres). Waltz King Andre Rieu's European tour, which began yesterday evening in Erfurt, is being extended, in view of bookings already running at over 90% of capacity (260,000 tickets), to include additional concerts and big open-air concerts until late summer next year.

    The transfer of the musical business to quoted Hegener + Glaser AG and the change of name are, as already announced, to be agreed on December 29, 2000 as part of a capital increase by means of cash and non-cash capital contributions, at an extraordinary general meeting of that company. The new STELLA Entertainment AG will then be listed on the Geregelter Markt and traded in Berlin, Munich and Hamburg. There are plans to list it at other stock exchange locations too.

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