EQS-News

DEAG Deutsche Entertainment Aktiengesellschaft: DEAG off to a very good start to financial year 2023 and continues to grow profitably - Seite 2

DEAG’s event pipeline is quite full. In the coming months, the company will be hosting concerts by Iron Maiden, Kiss, the Scorpions, Rod Stewart, The Who and Sam Fender, among other performers. In addition, visitors can expect another strong festival summer in 2023, with open-air festivals in the genres of EDM (Electronic Dance Music), Rock/Pop and Classics & Jazz, for which over 500,000 tickets have already been sold.

DEAG’s growth strategy continues to include the implementation of further acquisitions, several of which are currently in the pipeline. DEAG plans to intensify its M&A activities even further in the second half of 2023. One focus will be on the area of ticketing and expansion into new European markets. Due to its good operating performance and very solid financial basis, DEAG has already been able to arrange attractive financial terms for financing further business expansion in recent months.  In addition, DEAG is considering the issue of a new corporate bond to drive its growth and refinance its 2018/2023 bond. The company will publish further information on this shortly.

“We are very pleased with the start to 2023. Growth of more than 50% is above our plan and indicates that we are on track for a strong financial year 2023. After the first quarter, we see ourselves on the way to achieving our annual targets of more than EUR 300 million in revenue with a further improvement in EBITDA. We have again seen demand for tickets at an extremely high level in the first three months. We intend to continue developing our ticketing platforms and expand into new markets. We are in advanced discussions with potential companies and are confident that we will soon be able to announce further partners to the DEAG family. Together, we will grow, expand our event formats and bring enjoyment to visitors beyond their everyday lives,” commented Professor Peter L.H. Schwenkow, CEO of DEAG.

The Quarterly Financial Statement as of 31 March 2023 will be available for download on the company’s website in the Investor Relations section as of 31 May 2023.

About DEAG

DEAG Deutsche Entertainment Aktiengesellschaft (DEAG), a leading entertainment service company and live entertainment provider, produces and promotes live events of all genres and sizes in Europe. With its group companies, DEAG has been present at 20 locations in its core markets of Germany, Great Britain, Switzerland, Ireland and Denmark. As a live entertainment service provider with an integrated business model, DEAG has extensive expertise in the conception, organisation, promotion and production of events.