EQS-News: DEAG Deutsche Entertainment Aktiengesellschaft
/ Key word(s): 9 Month figures
DEAG continues its strong business growth in 2022 in the third quarter
Business growth in 2022 is also very positive from a nine-month perspective, with revenue rising to EUR 235.1 million. This represents an increase of 91% compared to the period in 2019 and a multiple compared to the nine-month revenue of EUR 24.1 million in the previous year. EBITDA increased to EUR 20.3 million. This represents an increase of 155% compared to the same period in 2019 and a very significant increase compared to EBITDA of EUR 13.3 million in the previous year.
The main reason for the good development of the key financial figures was the significant upturn in operating activities as a consequence of lifting most of the corona restrictions in DEAG’s national markets. In addition, the companies acquired by DEAG since 2019 also made a significant contribution to the good performance for the first full year. Furthermore, DEAG’s consistent strategic focus on its own high-margin event formats in recent years, especially in the Family Entertainment segment, and the expansion of the Group’s own ticketing platforms myticket and Gigantic Tickets for its own and third-party content, through which a large share of ticket sales is processed, have also paid off. In light of the positive performance to date and the strong operating development in the fourth quarter, DEAG confirms its expectations for revenue growth to more than EUR 300 million with a further improvement in EBITDA for the full year 2022.
DEAG successfully continued its M&A strategy in the reporting period and acquired, among other events, the electronic music festival “Airbeat One” and the “Classic Open Air am Gendarmenmarkt,” one of the most renowned classical and crossover events in Germany. Through these acquisitions, DEAG is significantly expanding its range of events in the Rock/Pop and Classics & Jazz divisions and expects synergy effects in the Live Entertainment and Ticketing business from next year on.
DEAG staged many events and concerts in the reporting period, including the sold-out open-air events “Belladrum Tartan Heart Festival” in the UK and “Sion sous les étoiles” in Switzerland. In Germany, the electro music festivals “NATURE ONE,” “Ruhr-in-Love” and “MAYDAY” were complete successes and drew around 100,000 visitors. DEAG currently has a diverse event portfolio with a total of more than 30 annual festivals lasting either one or more days that will attract more than 580,000 visitors in Germany, the UK, Switzerland and Ireland.
The current fourth quarter is dominated by the Christmas business with event formats such as the Christmas Circuses in Hanover and Regensburg and the Christmas Markets in Wuppertal and Kiel. In addition, DEAG has expanded its successful “Christmas Garden” format to 19 locations in the 2022/2023 season, ten of which are in Germany and nine in other European countries.
“We are extremely satisfied with our performance in the third quarter. Despite a challenging economic environment overall, the excellent development in the first six months of 2022 continued with high momentum in the third quarter. We successfully staged countless concerts and events and recorded a record summer in ticketing with 3 million tickets sold between June and August alone. We are experiencing unabated high demand for tickets to events and concerts. 2022 will be a record year for DEAG. The first quarter of 2023 is already characterised by high visibility. We expect our dynamic growth to continue beyond 2022,” commented Professor Peter L.H. Schwenkow, CEO of DEAG.
The Group’s full Quarterly Financial Statement will be published on 30 November 2022 in the “Investor Relations” section on the company’s website.
DEAG Deutsche Entertainment Aktiengesellschaft (DEAG), a leading entertainment service company and live entertainment provider, produces and promotes live events of all genres and sizes in Europe. With its group companies, DEAG has been present at 17 locations in its core markets of Germany, Great Britain, Switzerland, Ireland and Denmark. As a live entertainment service provider with an integrated business model, DEAG has extensive expertise in the conception, organisation, promotion and production of events.
Founded in Berlin in 1978, DEAG's core business areas today include Rock/Pop, Classics & Jazz, Family Entertainment, Spoken Word & Literary Events, Arts+Exhibitions and Ticketing. Family Entertainment and Arts+Exhibitions in particular are important building blocks for the further development of DEAG's own content.
For more than 5,000 events, over 5 million tickets are sold annually for own and third-party content (pre-pandemic level) - a continuously growing share of these is sold via the group's own e-commerce platforms "myticket", "Gigantic Tickets" and "tickets.ie".
With its strong partner network, DEAG is excellently positioned in the market.
Investor & Public Relations
25.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Company:||DEAG Deutsche Entertainment Aktiengesellschaft|
|Potsdamer Straße 58|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Stuttgart, Tradegate Exchange|
|EQS News ID:||1496907|
|End of News||EQS News Service|
1496907 25.11.2022 CET/CEST