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ots Ad hoc-Service: Jack White Productions
08:38 18.01.01
ots Ad hoc-Service: Jack White Productions
responsible for the contents of this announcement.
--------------------------------------------------
Berlin (ots Ad hoc-Service) -
Jack White Productions AG will probably have booked Group sales
for business 2000 of DM 28 million, compared with DM 4.8 million the
prior year Sales and earnings forecasts revised downwards New US
distribution structure led to numerous releases being put back until
2001
In financial 2000, Jack White Productions AG presumably booked
Group sales (incl. minority participations) of approx. DM 28 million,
or some 480 percent up on the 1999 figure of DM 4.8 million for the
Company. According to cautious estimates consolidated sales rose by
90-100 percent compared with the 1999 figure of DM 4.8 million for
the Company. From today's point of view, consolidated earnings after
tax according to US-GAAP will be marginal owing to extensive advance
payments made for the current year, while in financial 1999 income
after tax was DM 1.5 million.
In other words, the Company will clearly outperform the sales
volume of DM 10.6 million (incl. minority participations) targeted on
the occasion of the IPO, yet it will not meet the sales and earnings
forecasts which were revised sharply upward in March 2000.
A key reason for the revised forecasts are the considerable
investments in the United States. Following the fusion of the two US
companies HoT JWP Music, Inc. and JWP USA, Inc., which will spawn
strong synergies, a package of 47 albums was ready for release. At
the same time, the Company has expanded and improved the existing US
distribution structure. This process was not complete by the end of
2000, and the planned releases therefore had to be postponed until
early 2001. For this reason, in financial 2000 the high outlays in
the US market were not offset by the expected income from the year
2000 Christmas business.
Financial earnings in Q4 2000 did not match the favorable trend
for the first three quarters owing to the disappointing performance
of the stock market. On balance, the Company booked financial
earnings in business 2000.
JWP AG looks forward to the current business year with great
confidence. The investments made in the US market will pay off, and
in particular the package of albums produced ready for release will
achieve the expected sales in the United States. Moreover, the
appreciably more efficient structure of costs will impact favorably
in 2001. Not only have both US companies now been brought together in
Miami, but the Company's three Munich- based labels are now located
at one and the same place. Furthermore, the Berlin music production
company took several high-quality artists under contract last year,
e.g., Al Martino, Third World, Walter Scholz etc. New recordings with
these artists will be completed in the coming months and then
released in the course of the year, accompanied by the corresponding
marketing campaigns. In addition, the Company plans to acquire
additional licenses.
Detailed forecasts for the current business year will be published
at the end of March with the final figures for financial 2000.
Your contact: Frank Nussbaum, Jack White Productions AG, Tel.:
+49-30- 88550306,Fax: +49-30-8825903, franknussbaum@jack-white.de
End
--------------------------------------------------
Internet: recherche.newsaktuell.de
ots Ad hoc-Service: Jack White Productions
08:38 18.01.01
ots Ad hoc-Service: Jack White Productions
responsible for the contents of this announcement.
--------------------------------------------------
Berlin (ots Ad hoc-Service) -
Jack White Productions AG will probably have booked Group sales
for business 2000 of DM 28 million, compared with DM 4.8 million the
prior year Sales and earnings forecasts revised downwards New US
distribution structure led to numerous releases being put back until
2001
In financial 2000, Jack White Productions AG presumably booked
Group sales (incl. minority participations) of approx. DM 28 million,
or some 480 percent up on the 1999 figure of DM 4.8 million for the
Company. According to cautious estimates consolidated sales rose by
90-100 percent compared with the 1999 figure of DM 4.8 million for
the Company. From today's point of view, consolidated earnings after
tax according to US-GAAP will be marginal owing to extensive advance
payments made for the current year, while in financial 1999 income
after tax was DM 1.5 million.
In other words, the Company will clearly outperform the sales
volume of DM 10.6 million (incl. minority participations) targeted on
the occasion of the IPO, yet it will not meet the sales and earnings
forecasts which were revised sharply upward in March 2000.
A key reason for the revised forecasts are the considerable
investments in the United States. Following the fusion of the two US
companies HoT JWP Music, Inc. and JWP USA, Inc., which will spawn
strong synergies, a package of 47 albums was ready for release. At
the same time, the Company has expanded and improved the existing US
distribution structure. This process was not complete by the end of
2000, and the planned releases therefore had to be postponed until
early 2001. For this reason, in financial 2000 the high outlays in
the US market were not offset by the expected income from the year
2000 Christmas business.
Financial earnings in Q4 2000 did not match the favorable trend
for the first three quarters owing to the disappointing performance
of the stock market. On balance, the Company booked financial
earnings in business 2000.
JWP AG looks forward to the current business year with great
confidence. The investments made in the US market will pay off, and
in particular the package of albums produced ready for release will
achieve the expected sales in the United States. Moreover, the
appreciably more efficient structure of costs will impact favorably
in 2001. Not only have both US companies now been brought together in
Miami, but the Company's three Munich- based labels are now located
at one and the same place. Furthermore, the Berlin music production
company took several high-quality artists under contract last year,
e.g., Al Martino, Third World, Walter Scholz etc. New recordings with
these artists will be completed in the coming months and then
released in the course of the year, accompanied by the corresponding
marketing campaigns. In addition, the Company plans to acquire
additional licenses.
Detailed forecasts for the current business year will be published
at the end of March with the final figures for financial 2000.
Your contact: Frank Nussbaum, Jack White Productions AG, Tel.:
+49-30- 88550306,Fax: +49-30-8825903, franknussbaum@jack-white.de
End
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Internet: recherche.newsaktuell.de
