DEAG Deutsche Entertainment Aktiengesellschaft

  • WKN: A0Z23G
  • ISIN: DE000A0Z23G6
  • Land: Deutschland

Nachricht vom 26.11.2020 | 12:43

DEAG Deutsche Entertainment Aktiengesellschaft: DEAG profitable in the first 9 months of 2020 and sets operational course for further company growth

DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): 9 Month figures
26.11.2020 / 12:43
The issuer is solely responsible for the content of this announcement.

DEAG profitable in the first 9 months of 2020 and sets operational course for further company growth

- EBITDA after nine months at EUR 0.3 million - sales of EUR 39 million

- Robust financial base with high liquidity and fixed sales base for 2021

- Slightly positive EBITDA targeted for 2020 as a whole

- DEAG positions itself for a new start of the market

Berlin, 26 November 2020 - DEAG Deutsche Entertainment Aktiengesellschaft ("DEAG," ISIN: DE000A0Z23G6, stock exchange symbol: LOUD) has demonstrated its resistance to the COVID-19 pandemic and the associated decline in sales even after nine months in financial year 2020. After nine months, Group sales amounted to EUR 39 million (previous year: EUR 123.1 million). Sales of EUR 7.4 million were generated in the third quarter (previous year: EUR 59.2 million). EBITDA in the reporting period amounted to EUR 0.3 million, compared to EUR 8.0 million in the previous year. EBITDA of EUR 0.6 million was achieved in the months July to September, during which the entire live entertainment industry continued to be hit extremely hard by the pandemic, as in the previous quarter (previous year: EUR 4.9 million). This solid result was based on new event formats, significant cost reductions and DEAG's insurance coverage. Overhead costs were reduced once again in the third quarter and are now 48 percent below the original level.

DEAG has reacted quickly and consistently to changing market conditions in recent months by developing and successfully implementing new event concepts. The Group's own ticketing platforms MyTicket and Gigantic.com, which handle a significant share of the ticket sales for its own events and third-party content, are becoming increasingly important for DEAG. Additional sales potential of around 450,000 tickets per year is unlocked by the new, exclusive multi-year partnership between the Jahrhunderthalle in Frankfurt/Main, which is operated by DEAG, and MyTicket starting on 1 January 2021. Among other tasks, this partnership will provide for multi-channel ticketing sales for events exclusively via MyTicket and also includes the naming rights sponsorship for the Jahrhunderthalle. Moreover, MyTicket has further expanded the range of functions it offers in the course of the COVID-19 pandemic. With new features such as the intelligent hall plan with "Organic Social Distancing" function, the requirements of the federal and state governments in the area of ticketing are being perfectly implemented. At the same time, DEAG is positioning itself for the reopening of the entertainment market in the coming quarters and the complete market normalisation from 2022 on.

For the full year 2020, DEAG continues to expect EBITDA to at least break even, despite the recent very significant COVID-19-related restrictions in its core markets. The company considers itself well positioned for the future. For 2021, DEAG already has a sales base with good visibility of over EUR 100 million. The company also has a solid liquidity position of around EUR 50 million. DEAG also received insurance payments of EUR 10 million for cancelled or postponed events.

Prof. Peter L.H. Schwenkow, CEO of DEAG: "In view of the COVID-19 pandemic, we are comfortable with our results for the first nine months of 2020. Although large parts of our visible operational business are currently suspended, the DEAG team is working behind the scenes to continue our growth course successfully as the pandemic ebbs away and finally comes to an end. The breakthrough in the development of vaccines in November brings tailwind for our entire industry. We have significantly reduced our cost base and are taking advantage of available promotion and support programmes in our core markets. We are currently already planning for the opening of the market and a new start in live entertainment. In addition to our core markets of Germany, Switzerland and the UK, we are also present in Ireland through our joint venture 'Singular Artists'. We are seeking contact with artists and management, preparing the expansion of our successful formats and developing new offers."

 

About DEAG

DEAG Deutsche Entertainment Aktiengesellschaft (DEAG) is a leading entertainment service company and a provider of Live Entertainment in Europe. With its Group companies, DEAG has been present in 12 locations in its core markets Germany, the United Kingdom, Switzerland and Ireland for more than 40 years. As a Live Entertainment service company with an integrated business model, DEAG has extensive expertise in planning, organising, marketing and promoting events.

Founded in Berlin in 1978 and listed on the stock exchange since 1998, DEAG's core business areas nowadays include Rock/Pop, Classics & Jazz, Family Entertainment, Arts+Exhibitions and Ticketing. Especially Family Entertainment and Arts+Exhibitions are elementary building blocks for the further development of the company's own content.

More than 5 million tickets for over 4,000 events were sold in 2019, a continuously growing share of these via the Group's own e-commerce platforms "MyTicket" and "Gigantic.com" for its own and third-party content.

Through its strong partner network, DEAG is excellently positioned in the market as an internationally active live entertainment service provider.

DEAG shares (ISIN: DE000A0Z23G6 | WKN: A0Z23G | stock exchange symbol: LOUD) are listed in the Prime Standard of the Frankfurt Stock Exchange, the quality segment of the German Stock Exchange.

Investor & Public Relations
edicto GmbH
Axel Mühlhaus
Phone: 0049 69 905505-52
email: deag@edicto.de

 



26.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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