DEAG Deutsche Entertainment Aktiengesellschaft: Good first quarter 2016 confirms positive full-year outlook
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft: Good first quarter 2016 confirms positive full-year outlook
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Quarter Results
2016-05-31 / 15:07
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Corporate press release
DEAG: Good first quarter 2016 confirms positive full-year outlook
– Positive EBIT despite first-quarter seasonality
– Substantial increase in profitability expected as year progresses
– Myticket.de accounted for 14% of DEAG ticket sales in Q1 (2015: just under 10%)
– Increase in third-party content available on myticket.de
Berlin, 31 May 2016 – DEAG Deutsche Entertainment AG (ISIN DE000A0Z23G6 | ERMK) ended the first quarter of 2016 – in which business developed positive – with positive earnings before interest and taxes (EBIT) of EUR 0.3 million, compared to EUR 2.0 million in the prior-year period. Reflecting the seasonal distribution of events, this year’s first-quarter sales revenues totalled EUR 31.3 million, compared to EUR 38.9 million in the prior-year period. DEAG also started the second quarter on a positive note: the assumptions previously made regarding the future development of the business and festivals that will take place during this period, have been confirmed according to currently available information.
DEAG’s event pipeline is well-filled, as expected, along with rock/pop, classical music, German-language music the Family Entertainment division will play a significant role. Current and upcoming highlights for the year include the successful Lego(R) exhibition in Hamburg entitled “The Art of the Brick”, the internationally acclaimed show “The Hole” in Cologne, with Tom Gerhardt as emcee, and the DEAG-produced urban-dance show, “Beethoven! The Next Level”. In all of these cases, DEAG combines attractive content with a large number of admission tickets sold. On this basis DEAG confirms its positive full-year outlook 2016.
The dynamic trend in DEAG’s Ticketing segment continued into the first quarter of 2016 as well and the myticket.de sales platform further expanded its market position. This is reflected in the number of events offered on the website, a positive trend in the conversion rate and, above all, the increasing percentage of DEAG tickets being sold via myticket.de. Around 14% of all tickets Group-wide were sold via myticket.de in the first quarter, compared with just under 10% in the previous year. The upward trend will continue – with contributions to Group earnings increasing accordingly. On average, myticket.de is expected to account for around 40% of all tickets sold by 2017. In addition, from the second quarter 2015, admission tickets for third-party content from other major event organisers will increasingly be sold via myticket.de following the very positive sales for Tabaluga. DEAG expects to see the continuation of a clear upward trend in this area in future.
A detailed quarterly financial report on the first quarter of 2016 will be available in the course of the day in the Investor Relations section of our website www.deag.de.
DEAG Deutsche Entertainment Aktiengesellschaft
For additional information, please contact:
Axel Mühlhaus | edicto GmbH | Tel: +49-69-90 550 552 | email: email@example.com