DGAP-News

DEAG Deutsche Entertainment Aktiengesellschaft: DEAG with nearly balanced EBITDA in first half of 2020 despite the COVID-19 crisis - Seite 3

"We are satisfied with the economic result in the first half of 2020 against the backdrop of the drastic restrictions imposed by COVID-19 on us. Above all, we are demonstrating operationally that DEAG can develop and implement successful events in any market environment, provided the regulatory framework allows it. I am extremely grateful to all our employees not only for their ideas, but also for their motivation and commitment to our cost reduction and efficiency programmes. Our enormous efforts are proving to be a great success. Due to DEAG's strong financial resources, the time scale of the crisis is not the main focus of our considerations. On the contrary, our dense calendar of events for 2021, many millions of tickets sold and already more than EUR 100 million in contracted revenues at the end of the first half of the year make us very optimistic. For the vast majority of these revenues in the coming year, we also have full insurance coverage again, including cancellation due to force majeure," said Prof. Peter L.H. Schwenkow, CEO of DEAG.

The complete half-year Financial Report will be available for download on DEAG's website in the course of 28 August 2020.

Investor & Public Relations
edicto GmbH
Axel Mühlhaus
Phone: [phone]
Email: [e-mail]

 

About DEAG

DEAG Deutsche Entertainment Aktiengesellschaft (DEAG) is a leading entertainment service company and a provider of Live Entertainment in Europe. With its Group companies, DEAG has been present in 11 locations in its core markets Germany, the United Kingdom and Switzerland for more than 40 years. As a Live Entertainment service company with an integrated business model, DEAG has extensive expertise in planning, organising, marketing and promoting events.

Founded in Berlin in 1978 and listed on the stock exchange since 1998, DEAG's core business areas nowadays include Rock/Pop, Classics & Jazz, Family Entertainment, Arts+Exhibitions and Ticketing. Especially Family Entertainment and Arts+Exhibitions are elementary building blocks for the further development of the company's own content.

More than 5 million tickets for over 4,000 events were sold in 2019, a continuously growing share of these via the Group's own e-commerce platforms "MyTicket" and "Gigantic.com" for its own and third-party content.