DEAG Deutsche Entertainment Aktiengesellschaft: DEAG embarks on its next growth phase through excellent business development and strategic decision-making

EQS-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Half Year Results DEAG Deutsche Entertainment Aktiengesellschaft: DEAG embarks on its next growth phase through excellent business development and strategic decision-making 31.08.2023 / 13:57 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

DEAG embarks on its next growth phase through excellent business development and strategic decision-making

• Strong operational performance: Revenues of approximately EUR 123 million in the first half of the year, with EBITDA surpassing EUR 5 million. Annual targets for 2023 have been reaffirmed
• Exceptional leadership team: Company founder Prof. Peter L. H. Schwenkow and Detlef Kornett will jointly lead DEAG as Co-CEOs going forward, while David Reinecke will assume the role of the new Chief Financial Officer
• Strategic expansion: Anticipate an escalation in M&A activities commencing from the second half of 2023

 

Berlin, 31 August 2023 – DEAG Deutsche Entertainment Aktiengesellschaft (“DEAG”) is embarking on the next phase of its successful expansion, leveraging its strong business performance during the first half of 2023. This expansion is founded upon very strong financial metrics, both organic and inorganic growth strategies, substantial financial leeway, and a dynamic team which will shape DEAG's future trajectory.

After the first half of 2023, DEAG is fully on track to achieve its full-year targets: Revenue of over EUR 300 million and a further improved EBITDA compared to the previous year (EUR 30.9 million). Throughout the ongoing fiscal year, DEAG plans to stage approximately 6,000 events across its key European markets. A substantial portion of these events comprises its proprietary, high-margin formats and festivals. The aim is to surpass the previous year's record of 9 million tickets sold, reaching a new milestone of 10 million tickets sold. Most of these ticket sales will be sold through the Group's proprietary ticketing platforms: myticket, gigantic.com, and tickets.ie.