EQS-News

DEAG fully on track with very good organic business development in 2023 – Detlef Kornett named sole CEO of DEAG - Seite 2

In the fourth quarter of 2023, DEAG generated revenue of around EUR 100 million and EBITDA was around EUR 13 million, compared to around EUR 90 million and approx. EUR 11.0 million the previous year. The good performance in the fourth quarter was driven in particular by a strong ticketing and Christmas business as well as successful in-house productions.  The service business, which includes various services such as production set-up, security and catering, also developed very well as an addition to the value chain in Live Entertainment.

DEAG now generates approx. half of its consolidated revenue with its own event formats, for which the majority of tickets are sold via the Group’s own ticketing platforms myticket.de, myticket.at, myticket.co.uk, gigantic.com and tickets.ie. DEAG also achieved its forecast target of over 10 million tickets sold in 2023, after 9 million in 2022. For the current financial year 2024, DEAG expects an increase in tickets sold to around 11.5 million. Ticketing is one of DEAG’s growth drivers and is already making a significant contribution to the overall result. At the same time, it is increasingly profitable itself.

DEAG successfully continued its buy and build strategy in the reporting period and increased its stake in its subsidiary I-Motion from 50.1% to 100%. The objective of this strategy is to systematically reduce minority interests following the successful business development of its investments. DEAG also continued its international expansion and entered the Spanish Rock/Pop market. The company has also further strengthened its good market position in the UK by opening a new office in Wales.

DEAG is also reorganising its Executive Board: The company founder and CEO of DEAG, Prof. Peter L.H. Schwenkow, has informed the Supervisory Board of DEAG that he will step down as Chairman of the Executive Board on 31 March 2024. After 46 years as CEO, Prof. Schwenkow is thus handing over the leadership role in the Group to Detlef Kornett as planned on his 70^th birthday. The former Co-CEO and long-standing member of the DEAG Executive Board will then lead the company as sole CEO with the existing well-established Executive Board team. Peter Schwenkow will be available to the company as “Founder & Senior Advisor” from 1 April 2024 and will continue to be linked with DEAG as a shareholder.