DEAG Deutsche Entertainment Aktiengesellschaft: DEAG reports successful start to financial year 2018
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft: DEAG reports successful start to financial year 2018
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Quarter Results
29.05.2018 / 16:00
The issuer is solely responsible for the content of this announcement.
DEAG reports successful start to financial year 2018
– At plus 40% and plus 44% respectively, sales and EBIT were much higher than last year
– All divisions developed very positively
– Executive Board confirms forecast for 2018
Berlin, 29 May 2018 – DEAG Deutsche Entertainment AG (DEAG), Berlin, ISIN: DE000A0Z23G6, Ticker: ERMK, listed in the Prime Standard, publishes its results for the first quarter of 2018. During this period, DEAG recorded a 40% increase in sales from EUR 19.3 million in the previous year’s quarter to EUR 27.0 million in the first quarter of 2018. The earnings before interest and taxes (EBIT) amounting to EUR 340 thousand compared to EUR 237 thousand in the previous year (+44%). This means that DEAG is fully on target for 2018 as a whole. All of DEAG’s divisions contributed to this positive development.
“The first quarter of 2018 fully met our expectations. All divisions contributed to the positive development of sales and earnings and were profitable. In the Family Entertainment division in particular, we were able to continue the strong growth of recent years. The addition of the Flying Music Group to our international event portfolio was particularly evident in this respect. Against this backdrop, we expect a strong second quarter and consider our forecast for 2018 as a whole confirmed,” commented Prof. Peter L.H. Schwenkow, CEO and founder of DEAG.
The well-filled pipeline of events with 2.7 million tickets already sold for future events forms a solid basis for business development for the remainder of financial year 2018. The Executive Board confirms its forecast for the anniversary year 2018, with sales growth of at least 20% and disproportionately high earnings growth of at least 40%. In the current financial year as well, the main focus of events will once again be on the fourth quarter.
The complete report for the first quarter of 2018 will be available for download on the company’s website during the course of the day.
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 organises a broad range of events and concerts. As a Live Entertainment service company with an integrated business model DEAG has extensive expertise in the organisation, marketing and holding of events, as well as in ticket sales via its own ticketing platform ‘MyTicket’ for its own and third-party content. The highly scalable business model of MyTicket strengthens DEAG on its way to increasing profitability. DEAG promotes around 4,000 concerts and events a year and currently sells more than 5 million tickets, of which a steadily increasing share is sold via its high-turnover ticketing platform MyTicket.
Founded in Berlin in 1978 and listed since 1998, DEAG’s core businesses include Rock/Pop, Classics & Jazz, Family Entertainment and Arts+Exhibitions. The Family Entertainment and Arts+Exhibitions divisions in particular are of great importance to the further development of DEAG’s own content. With its strong partner network, DEAG is excellently positioned in the market as an internationally active Live Entertainment service company.
DEAG shares (ISIN: DE000A0Z23G6 | WKN: A0Z23G | ERMK) are listed in the Prime Standard of the Frankfurt Stock Exchange, the quality segment of Deutsche Börse.