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DEAG Deutsche Entertainment Aktiengesellschaft: DEAG with nearly balanced EBITDA in first half of 2020 despite the COVID-19 crisis - Seite 2

In recent months, DEAG has also reacted quickly and consistently to the changing market conditions by developing new formats. New events and digital content have been developed and successfully implemented. For example, the electronic festival NATURE ONE took place virtually in August for the first time with 4.5 million users following the livestream. Following the high visitor turnout at our drive in event, BW-Bank Kulturwasen in Stuttgart, is now extended until the end of September, when it is projected to have drawn around 100,000 visitors. With Stage Drive in Frankfurt, DEAG also set the tone in the Rhine-Main region and the virtual reality format TimeRide is going on a time travel again with an adapted distance and hygiene concept.

Preparations for Christmas Garden 2020/2021 are now in full swing at eleven locations. DEAG had already developed this format in 2016 and successfully established it on the market both nationally and internationally. It also offers a "COVID-19-compatible" Christmas experience outdoors with great distance between individuals. DEAG assumes that the previously expected increase to between 1.2 million and 1.5 million visitors (previous year: 950,000 visitors) in the current year can even be exceeded due to how advance sales are currently developing.

DEAG is ideally positioned for the future thanks to its substantial financial resources and high density of events. As of 30 June 2020, the Group's liquid funds, including agreed bank lines, totalled around EUR 50 million. Significant inflows of funds are ensured by the smooth settlement of claims by the insurance company for events cancelled or postponed by force majeure. In recent months, DEAG has already received EUR 9.0 million in insurance benefits, with another EUR 5.1 million in the settlement process. The insurance coverage will continue to apply without restriction for events that have already been postponed.

For future events, DEAG has good visibility of a revenue base of over EUR 100 million already after the first half of 2020. DEAG benefits from the high level of loyalty of its customers, nearly 90 percent of whom have indicated that they will keep their tickets for postponed events. In conjunction with the current voucher solution in place in Germany, this will further secure DEAG's liquidity position. At the end of the first half of the year, DEAG had already sold a total of around 2.5 million tickets in Germany, Switzerland and the UK (including Scotland), not including events such as Christmas Garden. A very significant share of the tickets are distributed via the Group's own ticketing platforms, MyTicket and Gigantic.com, as DEAG participates in all major stages of the value chain. Following the encouraging performance in the first half of the year, DEAG is aiming for at least balanced EBITDA for the full year 2020.