DEAG continues to grow and expects a successful full year 2024 after a very good start to the year

EQS-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Quarter Results DEAG continues to grow and expects a successful full year 2024 after a very good start to the year 29.05.2024 / 18:04 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

DEAG continues to grow and expects a successful full year 2024 after a very good start to the year

• Ticketing shows sustained high growth momentum
• Revenue of around EUR 52 million / EBITDA of around EUR 2.9 million
• M&A strategy continues to be implemented successfully – very good market position strengthened by acquisitions in the UK

 

Berlin, 29 May 2024 – DEAG Deutsche Entertainment Aktiengesellschaft (“DEAG”) reports that it has gotten off to a successful start to 2024 as planned. Based on a well-filled event pipeline and very good ticket sales, a continuation of the successful course that has been underway since 2022 can also be seen for the full year 2024. Revenues of around EUR 52 million were generated in the first three months. This is more than 7% higher than the high figure of EUR 48.2 million in the same period of the previous year. At around EUR 2.9 million (previous year: EUR 3.1 million), earnings before interest, taxes, depreciation and amortisation (EBITDA) were also in line with expectations due to seasonal shifts in business within the genres and the restructuring of the Executive Board as of 1 April 2024. In the current financial year, the focus of the event density of the company’s own high-margin event formats compared to the previous year will be on the subsequent quarters, especially on the second half of 2024.

The first quarter of 2024 was characterised by a strong ticketing business and the planned expansion of DEAG’s own event formats. DEAG now generates around half of its consolidated revenue with its own and self-produced event formats. This makes it easier to plan business development and generates a high percentage of recurring revenue. DEAG succeeds in selling an increasing share of its tickets via the Group’s own ticketing platforms myticket.de, myticket.at, myticket.co.uk, gigantic.com and tickets.ie. Ticket sales via these platforms already increased by around 28% year-on-year in the first quarter of 2024. For 2024, DEAG expects to see an increase in tickets sold to around 11 million in total after more than 10 million tickets sold in the previous year, with a continuously growing share via the Group’s own ticketing platforms.