Press release BoxID: 620451 (DEAG Deutsche Entertainment AG)
  • DEAG Deutsche Entertainment AG
  • Potsdamer Straße 58
  • 10785 Berlin
  • Contact person
  • Bahar Eren
  • +49 (69) 905505-53

DEAG with very strong 1st half-year 2013 in terms of sales revenues and result

(PresseBox) (Berlin, ) .
- Sales revenues plus 45.3 percent
- EBIT plus 25.1 percent
- Group result plus 45.6 percent
- High backlog of orders and positive outlook for the 2nd half-year

DEAG Deutsche Entertainment AG (ISIN DE000A0Z23G6) has closed a very positive 1st half-year 2013 with increasing results, which represent further evidence for the strengths of DEAG and the success of the strategic orientation. According to provisional numbers, sales revenues improved by 45.3 percent versus the prior year period to EUR 95.6 million. The by far largest part of the growth was generated organically.

As expected, acquisitions made only a marginal contribution to the improvement in sales revenues for the time being. During the 2nd quarter 2013 sales revenues rose by 73.8 percent to EUR 67.1 million.

The earnings before interest and taxes (EBIT) improved, according to the preliminary results by 25.1 percent during the 1st half-year 2013 to EUR 5.2 million. During the 2nd quarter the EBIT grew by 32.9 percent. The group earnings after tax and minorities from continuing operations of probably EUR 2.7 million reached during the 1st half-year a 45.6 percent higher value than during the prior year period.

For the time being DEAG will take the expenditure in connection with the judgment of the Berlin Court of Appeal in re "Qivive" (cf. ad hoc announcement of May 24, 2013) fully into account as discontinued operations in the discontinued business unit in the half-year report. The original claim of the opposing party would have amounted to a sum of EUR 8.1 million incl. interest. A compromise entered into with the opposing party and recourse claims against the firm of auditors already transferred to DEAG have reduced this amount by now to EUR 2.47 million. Further damage claims have been asserted and DEAG is confident that it can continue to reduce the amount significantly.

Apart from the positive development of all group units DEAG also benefits increasingly from the digitization of ticket sales in cooperation with Ticketmaster Germany. These positive effects are currently continuing.

With the sold-out Black Sabbath concerts in Germany, concerts by Neil Young, Nickelback, Iron Maiden and Fleetwood Mac, the successful show EXXTREM with Circus FlicFlac, open air concerts by Bruce Springsteen and the tour by Andreas Gabalier and many other productions, DEAG has started successfully into the 2nd half-year.

Against the backdrop of the good advance ticket sales figures and the bulging concert pipeline, the Executive Board assumes that the positive business development will continue during the 2nd half-year, whereby the focus will be on the 4th quarter. Consequently, DEAG intends to continue its policy of rising dividends and have the shareholders participate in this way in the continuously growing corporate success.

The interim report for the first six months will be available for downloading on in the Investor Relations section from August 30, 2013 onwards.