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DEAG upgrades 2018 forecast after strong Q3

Deutsche Entertainment is on course for a €200m year after posting its first third-quarter profit since Q3 2012

By IQ on 22 Nov 2018

DEAG CEO Peter Schwenkow

DEAG CEO Peter Schwenkow


image © DEAG

Deutsche Entertainment AG (DEAG) has revised its growth forecast for the fourth quarter (Q4) of 2018 after a better-than-expected Q3.

In the traditionally sluggish third quarter, the German live entertainment group posted earnings before interest and taxes (EBIT) of €100,000, compared to a loss of €1.2 million in Q3 2017. It is the first time DEAG has recorded a positive EBIT figure in Q3 since 2012.

Year to date, DEAG’s revenue is €152.9m – up 41%, from €108.1m, year on year – while EBIT in Qs 1–3 was €8.2m, compared to €1.1m in 2017.

“Due to the very positive development of the first nine months of 2018, […] alongside the well-filled calendar of events for the traditionally strong fourth quarter, the executive board expects EBIT of at least €10 million for 2018 as a whole, with sales revenues of over €200 million,” the company says in a letter to investors.

DEAG’s full yearly results traditionally appear the following the spring. In 2017, turnover was €159.8m; if the board’s predictions prove correct, that would see over €40m of sales revenue added in 2018.

 


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