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DEAG is ahead of plan after nine months and anticipates strong full year 2014

11-28-2014 07:33 PM CET | Arts & Culture

Press release from: DEAG Deutsche Entertainment AG

Ad hoc announcement in accordance with § 15 WpHG (German Securities Trading Act)

• Sales revenues 3.4% and EBITDA 3.5% higher
• Own ticket distribution Myticket.de successfully launched
• Positive outlook for the full year 2014 and the new year 2015

Berlin, November 28, 2014 – DEAG Deutsche Entertainment Aktiengesellschaft, Potsdamer Strasse 58, 10785 Berlin, (ISIN DE000A0Z23G6/WKN A0Z23G), listed in the Prime Standard of the Frankfurt Stock Exchange, has continued its positive development of sales revenues and earnings after the first three quarters of 2014 and anticipates another increase in revenues and earnings for the full year 2014 and for 2015. Despite the FIFA World Cup, which resulted seasonally, as planned, in less shows during the second and third quarter 2014, sales revenues rose, unlike the industry trend, after nine months by 3.4% versus prior year to EUR 129.5 million. At the same time the EBITDA increased by 3.5% to EUR 6.8 million.

Overall, DEAG generated earnings during the third quarter which were above prior year and its own budget. The adjusted EBIT jumped by 4.2% to EUR 5.8 million during the first nine months. The adjusted consolidated earnings after tax and minority interests increased significantly by 20.4% to EUR 2.9 million. The first-time consolidation, which had to be carried out within the framework of the acquisition of the British promoter KILIMANJARO LIVE, resulted in accordance with IFRS 3 in one-time amortizations in respect of the order backlog determined within the framework of the provisional purchase price allocation. As a result of this one-time effect, the EBIT dropped by 16.9% to EUR 4.2 million. After the adjustment by this amortization, there is again a significantly improved net margin, which is attributable to reduced minority interests and lower capital costs.

During the first three quarters many attractive DEAG events ensured the positive result: this included, amongst others, concerts by the Rolling Stones, Andreas Gabalier, David Garrett as well as classical music events in Switzerland and on the British market. The outlook of DEAG for the fourth quarter 2014 is particularly positive; this is also supported by the expansion of the Family Entertainment segment and new projects in the United Kingdom.

In addition, Myticket.de, the new ticket distribution platform of DEAG, has been launched successfully and stably, with ticket sales in a five-digit range already during the first week. Myticket.de will generate a positive contribution margin in 2015. The consolidated earnings of DEAG include all start-up costs accrued for the new ticket distribution.

For the full year 2014 and for the new year 2015, DEAG anticipates a continuation of its profitable growth course. In particular the open-air and festival season 2015 includes many highlights. DEAG has already sold around 1.6 million tickets for 2015.

The Supervisory Board of DEAG has extended the Executive Board contract of Christian Diekmann, CFO and COO of DEAG, prematurely by another three years until 2018. Christian Diekmann has been a member of the Executive Board of DEAG since 2006 and has been one of the drivers of the growth course of DEAG. With this decision, the successful executive team of DEAG will remain unchanged for the coming years.

DEAG Deutsche Entertainment Aktiengesellschaft
The Executive Board

About DEAG:
DEAG Deutsche Entertainment Aktiengesellschaft is an integrated entertainment content company and a leading provider of live entertainment in Europe. With affiliated companies in the G/S/A countries (Germany/Switzerland/Austria) and the United Kingdom, DEAG currently promotes around 2,000 events per year in the fields of rock/pop, festivals, classical music, German hit songs and middle-of-the-road music as well as in the high-growth family entertainment segment, and sells significantly more than 3.5 million tickets. As an integrated entertainment content company, DEAG covers the entire value chain in live entertainment comprehensively with its 360 degree approach.

Contact for further information:
Axel Mühlhaus
edicto GmbH
Eschersheimer Landstraße 42, 60322 Frankfurt
Tel: +49-69-90 550 552
Email: deag@edicto.de

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