Deutsche Entertainment AG, which lost €23m in 2015, is predicting its best quarter since 2011 after a strong year to date
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Germany’s DEAG is expecting to close 2019 on a high, as a record year for MyTicket and an acceleration of sales in the past six months contribute to a strong Q4
By Anna Grace on 22 Nov 2019
Deutsche Entertainment AG (DEAG) expects the fourth quarter of 2019 to be “one of the strongest in company history”, with a high number of events and 2020 pre-sales scheduled before the year end.
As explained in its H1 report, DEAG focused the bulk of its sales on the second half of 2019. In the third quarter, sales rose by 70% from €34.8 million to €59.2m, less than €5m short of the total sales accrued in the first six months of the year.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased to €4.9m in Q3, compared to €900,000 in the same period of 2018.
According to DEAG, a “significant share” of tickets for the events and pre-sales taking place in Q4 are being sold through wholly owned ticketing agency MyTicket, which is on course for a record year. DEAG is currently in the final stages of acquiring another ticketing platform.
Although sales for the first nine months of the year are down on 2018, from €152.9m to €123.1, operating EBITDA rose more than 50%, from €5.1m in 2018 to €8m.
DEAG will publish final figures on 29 November together with the quarterly report, available here.
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