DEAG sales soar, return to pre-pandemic levels
Deutsche Entertainment (DEAG) has reported a return to form in the first quarter of 2022, with sales returning to pre-pandemic levels.
The Berlin-based live entertainment group generated sales of around €31 million in the first three months of 2022 – up 2,700% from Q1 2021 when operating sales were €1.1m and reported sales were €4m.
Sales in Q1 of this year were even higher than the first quarter of 2018 (€27m) and the first quarter of 2019 (€25.5m).
According to the promoter and ticketing agency, the increase is largely down to a number of events in all of the company’s national markets (Germany, the UK, Switzerland, Ireland and Denmark).
Notable events for DEAG in Q1 2022 included concerts by Simply Red and Texas in the UK and Bonnie Tyler in Switzerland, the international literature festival lit.COLOGNE, electronic festival “Mayday – 30 Years” in Germany, and Dita von Teese’s burlesque tour in the UK.
In addition, EBITDA (earnings before interest, taxes, depreciation and amortisation) in Q1 came to around €2.8m, up from €2.4m in the same period of last year.
“Finally! we can shift into a forward gear operationally once again and do what we burn for: to host exciting events”
For the first time in DEAG’s history, the ticketing segment was profitable in the traditionally weaker first quarter – a growth which is expected to continue throughout the year.
Overall, sales for the financial year of 2022 are expected to multiply year-on-year and significantly exceed pre-corona levels, says the company.
“Finally! Following the paralysis of the entire live entertainment industry caused by corona, we can shift into a forward gear operationally once again and do what we burn for: to host exciting events,” comments Prof. Peter L.H. Schwenkow, CEO of DEAG.
“The audience reactions and our first quarter figures show that we are extremely successful with this. We increased our operating sales by a factor of twenty-eight, a result that we owe entirely to our operational strength.
“Our EBITDA is also clearly positive. The Covid-19-related conditions have since eased further, so we will be burning off event fireworks in the coming quarters. For example, we will stage concerts with stars such as KISS, Ed Sheeran in the UK, Iron Maiden, Zucchero, Die Toten Hosen, Anna Netrebko and Die Ärzte, as well as open-air festivals such as Nature One, Belladrum and Sion sous les étoiles. We are excellently positioned for the restart of the industry. In 2022 as a whole, we will massively increase our sales and even significantly exceed the pre-corona level.”
DEAG says it has already sold more than 6.3 million tickets for events in its core markets for the coming quarters. On the basis of ticket sales and the “bulging event pipeline,” the company expects its upward trajectory to carry on in 2023.
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