Deutsche Entertainment is on course for a €200m year after posting its first third-quarter profit since Q3 2012
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Preliminary figures released by DEAG show significant growth and a large earnings increase for last year, as the German company reports a strong start to 2019
By Anna Grace on 21 Mar 2019
Deutsche Entertainment AG (DEAG) has released its preliminary figures for financial year 2018, recording significant growth and beating its sales and earnings forecast.
The German promoter and ticketing company increased revenue to €200.2m, up 25% on the previous year’s €159.8m, while earnings before interest, taxes, depreciation and amortisation (EBITDA) grew a huge 123%, to €14.6m (previous year €6.5m). A significant increase of earnings before interest and taxes (EBIT) was also recorded: 110%, to €10.6m, from €5.1m the previous year.
The company had expected strong results, revising its growth forecast for the fourth quarter of 2018 following its first positive EBIT figure in Q3 since 2012. DEAG also announced plans to issue a new corporate bond to finance further growth.
In 2018, DEAG eliminated most of its minority holdings and joint ventures, acquiring all remaining shares (50%) in Swiss classical music promoter the Classical Company, as well as taking full control of DEAG Classics and ticketing platform MyTicket.
The German promoter views “realistic opportunities for internal and external growth” across its five business divisions in 2019
Hailing its “excellent start” to the 2019 financial year, the Berlin-based company says its “very well-filled event pipeline forms a solid basis for a positive business development in 2019”, with “realistic opportunities for internal and external growth” across its five business divisions: of rock/pop, classical and jazz, family entertainment, arts/exhibitions and ticketing.
The company recently appointed Roman Velke as chief financial officer. Velke will take over from Ralph Quellmalz on April 1.
DEAG will publish the full report on financial year 2018 with the final figures on 29 March 2019.