Operating profit in 2000 amounted to 29.6 million deutsche marks ($14 million), beating its earlier expectation of 23.5 million marks.
Earnings before interest, tax, depreciation and amortization—the ever-popular EBITDA—in 2000 adjusted for one-time items was 63.5 million marks. Sales more than doubled to 1.2 billion marks from 450.9 million marks the year previous. The company didn't report net income—so don't ask about it.
Edel, which owns the European rights to Disney's music, is looking to cut costs by selling unprofitable units and by reorganizing. The company admitted it spent too much on acquisitions in the past. Edel's CFO quit at the end of last year.
The company expects operating profit to rise by more than 10 million marks this year and the year after. After that, we suppose, it's anybody's guess.
DANIEL NIGRO:
CRACKING THE CODE The co-writer-producer of the moment, in his own words (12/12a)
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NOW WHAT?
We have no fucking idea.
COUNTRY'S NEWEST DISRUPTOR
Three chords and some truth you may not be ready for.
AI IS ALREADY EATING YOUR LUNCH
The kids can tell the difference... for now.
WHO'S BUYING THE DRINKS?
That's what we'd like to know.
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