DGAP-News DEAG Deutsche Entertainment Aktiengesellschaft: DEAG with nearly balanced EBITDA in first half of 2020 despite the COVID-19 crisis

Nachrichtenquelle: EQS Group AG
28.08.2020, 09:05  |  128   |   |   

DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Half Year Results
DEAG Deutsche Entertainment Aktiengesellschaft: DEAG with nearly balanced EBITDA in first half of 2020 despite the COVID-19 crisis

28.08.2020 / 09:05
The issuer is solely responsible for the content of this announcement.


DEAG with nearly balanced EBITDA in first half of 2020 despite the COVID-19 crisis

- EBITDA of EUR -0.3 million in the first half year with EUR -1.5 million in the second quarter only as a result of a massive cost-cutting programme and the benefit of extensive insurance coverage

- New DEAG event formats developed and implemented with high customer acceptance -

           "COVID-19-compatible" successful Christmas Garden event format could exceed expectations

- Very solid financial base with EUR 50 million in liquidity

- Full event pipeline, around 2.5 million tickets sold and already more than EUR 100 million in contracted sales as a driver for further growth after the crisis

Berlin, 28 August 2020 - DEAG Deutsche Entertainment Aktiengesellschaft (Prime Standard, ISIN: DE000A0Z23G6, ticker symbol: LOUD, "DEAG") has demonstrated its ability to withstand the effects of the COVID-19 crisis and the related slump in sales in its results for the first half of 2020. At EUR - 0.3 million (previous year: EUR 3.1 million), EBITDA was nearly balanced in the first half of the year and was only EUR -1.5 million (previous year: EUR 2.1 million) in the second quarter, in which the live entertainment industry was particularly hard affected by the lockdown. Sales in the first half of the year amounted to EUR 31.7 million (previous year EUR 63.9 million) and to EUR 5.6 million (previous year: EUR 38.4 million) in the second quarter. Significant cost savings, of more than 30 percent compared to the first quarter of 2020, as well as DEAG's extensive insurance coverage were the basis for the solid result.

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DGAP-News DEAG Deutsche Entertainment Aktiengesellschaft: DEAG with nearly balanced EBITDA in first half of 2020 despite the COVID-19 crisis DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Half Year Results DEAG Deutsche Entertainment Aktiengesellschaft: DEAG with nearly balanced EBITDA in first half of 2020 despite the COVID-19 crisis 28.08.2020 / 09:05 The …

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