DEAG Deutsche Entertainment Aktiengesellschaft: DEAG publishes preliminary figures for fiscal year 2017
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft: DEAG publishes preliminary figures for fiscal year 2017
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Preliminary Results
21.03.2018 / 14:20
The issuer is solely responsible for the content of this announcement.
DEAG publishes preliminary figures for fiscal year 2017
– DEAG continues to grow in 2017 and reaches its target, EBIT of EUR 5.1 million
– Significant operating EBIT improvement of EUR 7.2 million compared to the previous year
– Double-digit growth in sales and earnings expected in 2018
Berlin, March 21, 2018 – DEAG Deutsche Entertainment AG (DEAG), Berlin, ISIN: DE000A0Z23G6, Ticker: ERMK, listed in the Prime Standard, informs on its preliminary figures for fiscal year 2017. DEAG was able to meet its earnings forecast by posting earnings before interest and taxes (EBIT) of EUR 5.1 million. EBIT from continuing operations thus improved significantly by EUR 7.2 million compared to EBIT of EUR -2.1 million in 2016 before non-operating effects from the sale of the Jahrhunderthalle in Frankfurt/Main. Sales before consolidation amounted to EUR 179 million in fiscal year 2017 after EUR 199 million the previous year. This is due to temporary effects from the change in the scope of consolidation that will completely level off in 2018.
The Executive Board is looking optimistically to the current fiscal year and expects further profitable growth in terms of sales and earnings. The well-filled event pipeline and the 2.5 million tickets already sold for future events form a solid basis for a positive business development. For 2018, the Executive Board is therefore forecasting sales growth of at least 20% and disproportionately high earnings growth of at least 40%. The focus of events in the current fiscal year will again be on the fourth quarter.
DEAG will publish the full report on fiscal year 2017 on March 29, 2018.
DEAG Deutsche Entertainment AG (DEAG) is a leading entertainment service company and a provider of live entertainment in Europe with subsidiaries in its core markets. DEAG produces and profitably promotes a broad range of live events and concerts. Its own distribution business, mytic myticket AG, which is also share-held by two large print and TV media companies, increases the company’s profitability and scales its business model. DEAG promotes around 2,500 concerts and events each year, selling more than 5 million tickets at present, a steadily increasing part of which is sold via its high-turnover eCommerce platforms “MyTicket.”
The core business areas of DEAG range from rock/pop, classics & jazz, the strongly growing Family Entertainment division as well as Arts + Exhibitions. The family entertainment division is particularly fundamental for the further development of DEAG’s own content. Its network of strong partners allows DEAG to put itself in an excellent market position as an internationally active live entertainment group.
DEAG shares (ISIN: DE000A0Z23G6 | WKN: A0Z23G | ERMK) are quoted in the Prime Standard segment of the Frankfurt Stock Exchange, which is the quality segment of the Deutsche Börse, the German stock exchange.