DGAP-Adhoc
DEAG Deutsche Entertainment Aktiengesellschaft is ahead of plan after nine month and anticipates strong full year 2014
DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): 9-month figures/Miscellaneous
28.11.2014 11:04
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc announcement in accordance with § 15 WpHG (German Securities Trading
Act)
DEAG is ahead of plan after nine months and anticipates strong full year
2014
- 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
Act)
DEAG is ahead of plan after nine months and anticipates strong full year
2014
- 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
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