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30.11.2015 16:43:01
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DGAP-News: DEAG Deutsche Entertainment AG
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft after 9 months with one-off charges and a positive strategic course of action
- Sales revenues on a Group level plus 13 %
- Result negative due to one-off effects of the development of the Festival business
- myticket.de after investments by media companies on an accelerated growth course
- Ticket volume on a Group level with almost 5 million in 2015 clearly ahead of expectations
- Growing sales revenues and definite operation in the black forecast for 2016
Berlin, November 30, 2015 - At DEAG Deutsche Entertainment Aktiengesellschaft (ISIN DE000A0Z23G6 | WKN A0Z23G) the first nine months of the current fiscal year were marked by one-off effects from the development of the Festival business, on the one hand and the strengthening of the market position as well as a positive strategic course of action, on the other. Sales revenues on a Group level increased by 13.1% to EUR 146.4 million after EUR 129.5 million during the prior year period. This was equally supported by German and international affiliated companies.
Non-recurring expenses in the two-digit million EUR range, which were incurred for the extension of the Festival activities, mainly during the first half of 2015, have temporarily burdened the nine months result of DEAG. As a result of this, the EBIT after 9 months in 2015 was negative in the amount of EUR -12.7 million (Q1 - Q3 2014: EUR +4.2 million), just as the Group earnings after taxes and minorities of EUR -13.2 million (Q1 - Q3 2014: EUR +2.1 million). Furthermore, DEAG has asserted claims in connection with a festival in 2015 against former contracting partners and an insurance company in the amount of EUR 14.5 million. DEAG's lawyers confirm that there is a high probability for these claims to be successful, but they have not yet been taken into account in the figures of DEAG after 9 months. After adjustment the two earnings figures were positive with EUR 1.8 million and EUR 1.3 million, respectively.
As far as fiscal 2016 is concerned, the Executive Board assumes that overall there will not be any additional strains from the Festivals business unit. The consistent entry into the Festival business is currently documented by the advance sales in this segment which are clearly ahead of prior year. In this connection, the acceptance by the market and structural adjustments in the field of event organization also have an impact on costs.
The rise in sales revenues during the first 9 months 2015 is paralleled by growing ticket sales. The recently raised expectations of a sales volume of 4.2-4.5 million tickets for the full year are clearly exceeded. DEAG now assumes that almost 5 million tickets will be sold for its events in 2015.
Since the beginning of this fiscal year the share of sales through the Group's own digital distribution system for tickets, myticket, has significantly increased. The very good development in Germany was additionally supported by the launch of myticket.co.uk in Great Britain. Following the investment of the media companies Axel Springer SE and ProSiebenSat.1 Media/Starwatch Entertainment in the operating company of myticket.de in late summer 2015 within the framework of a media-for-equity deal, the launch and presence of the distribution system was further boosted. In December 2015 alone around 40,000 tickets are likely to be distributed via myticket.de. The investment by the two media companies makes myticket even more attractive for the distribution of third-party content. DEAG is currently negotiating higher volume ticket offerings of other promoters through the system. From 2016 onwards myticket is to be opened up on a broad basis for third-party content.
The fourth quarter 2015 will be the strongest period of the whole year due to the seasonal event structure of DEAG. The focussing on additional high-growth segments such as Family Entertainment and the increasing international synergies between the affiliated companies constitute a sound basis. For 2016 the Executive Board expects that revenues will continue to rise and that it will definitely operate in the black, driven by the existing Live Entertainment business with a well-filled event pipeline and the increasing significance of the high-margin ticketing business.
The full report on the 9 months figures 2015 will be available in the course of the day on www.deag.de in the "Investor Relations" section.
DEAG Deutsche Entertainment AG The Executive Board
Contact for further information: Mr. Axel Mühlhaus edicto GmbH Tel: +49-69-90 550 552 Email: deag@edicto.de
About DEAG DEAG Deutsche Entertainment AG is an integrated Entertainment Content company and a leading provider of Live Entertainment in Europe. With affiliated companies in the G/S/A countries (Germany-Switzerland-Austria) and the United Kingdom, DEAG promotes around 2,000 concerts and events per year in the fields of Rock/Pop, Festivals, Classical Music, German Hit Songs and Middle-of-the-Road Music as well as in the high-growth segment Family Entertainment, and sells more than 4.5 million tickets per year at present. As an integrated Entertainment Content company, DEAG covers the entire value chain in Live Entertainment comprehensively with its 360 degree approach: from concerts via record sales, rights exploitation, sponsorships, merchandizing to ticketing through the DEAG Group's own online distribution platforms myticket.de and myticket.co.uk. The shares of DEAG (ISIN: DE000A0Z23G6 | WKN: A0Z23G | Ticker-Symbol: ERMK) are listed in the Prime Standard of the Frankfurt Stock Exchange. More information on www.deag.de
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30.11.2015 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. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: DEAG Deutsche Entertainment Aktiengesellschaft Potsdamer Straße 58 10785 Berlin Germany Phone: +49-30-810 75-0 Fax: +49-30-810 75-519 E-mail: deag@edicto.de Internet: www.deag.de ISIN: DE000A0Z23G6 WKN: A0Z23G Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of News DGAP News Service ---------------------------------------------------------------------------
419519 30.11.2015
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s):
9-month figures
DEAG Deutsche Entertainment Aktiengesellschaft after 9 months with one-off
charges and a positive strategic course of action
30.11.2015 / 16:43
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Corporate press release
DEAG after 9 months with one-off charges and a positive strategic course of
action
- Sales revenues on a Group level plus 13 %
- Result negative due to one-off effects of the development of the Festival business
- myticket.de after investments by media companies on an accelerated growth course
- Ticket volume on a Group level with almost 5 million in 2015 clearly ahead of expectations
- Growing sales revenues and definite operation in the black forecast for 2016
Berlin, November 30, 2015 - At DEAG Deutsche Entertainment Aktiengesellschaft (ISIN DE000A0Z23G6 | WKN A0Z23G) the first nine months of the current fiscal year were marked by one-off effects from the development of the Festival business, on the one hand and the strengthening of the market position as well as a positive strategic course of action, on the other. Sales revenues on a Group level increased by 13.1% to EUR 146.4 million after EUR 129.5 million during the prior year period. This was equally supported by German and international affiliated companies.
Non-recurring expenses in the two-digit million EUR range, which were incurred for the extension of the Festival activities, mainly during the first half of 2015, have temporarily burdened the nine months result of DEAG. As a result of this, the EBIT after 9 months in 2015 was negative in the amount of EUR -12.7 million (Q1 - Q3 2014: EUR +4.2 million), just as the Group earnings after taxes and minorities of EUR -13.2 million (Q1 - Q3 2014: EUR +2.1 million). Furthermore, DEAG has asserted claims in connection with a festival in 2015 against former contracting partners and an insurance company in the amount of EUR 14.5 million. DEAG's lawyers confirm that there is a high probability for these claims to be successful, but they have not yet been taken into account in the figures of DEAG after 9 months. After adjustment the two earnings figures were positive with EUR 1.8 million and EUR 1.3 million, respectively.
As far as fiscal 2016 is concerned, the Executive Board assumes that overall there will not be any additional strains from the Festivals business unit. The consistent entry into the Festival business is currently documented by the advance sales in this segment which are clearly ahead of prior year. In this connection, the acceptance by the market and structural adjustments in the field of event organization also have an impact on costs.
The rise in sales revenues during the first 9 months 2015 is paralleled by growing ticket sales. The recently raised expectations of a sales volume of 4.2-4.5 million tickets for the full year are clearly exceeded. DEAG now assumes that almost 5 million tickets will be sold for its events in 2015.
Since the beginning of this fiscal year the share of sales through the Group's own digital distribution system for tickets, myticket, has significantly increased. The very good development in Germany was additionally supported by the launch of myticket.co.uk in Great Britain. Following the investment of the media companies Axel Springer SE and ProSiebenSat.1 Media/Starwatch Entertainment in the operating company of myticket.de in late summer 2015 within the framework of a media-for-equity deal, the launch and presence of the distribution system was further boosted. In December 2015 alone around 40,000 tickets are likely to be distributed via myticket.de. The investment by the two media companies makes myticket even more attractive for the distribution of third-party content. DEAG is currently negotiating higher volume ticket offerings of other promoters through the system. From 2016 onwards myticket is to be opened up on a broad basis for third-party content.
The fourth quarter 2015 will be the strongest period of the whole year due to the seasonal event structure of DEAG. The focussing on additional high-growth segments such as Family Entertainment and the increasing international synergies between the affiliated companies constitute a sound basis. For 2016 the Executive Board expects that revenues will continue to rise and that it will definitely operate in the black, driven by the existing Live Entertainment business with a well-filled event pipeline and the increasing significance of the high-margin ticketing business.
The full report on the 9 months figures 2015 will be available in the course of the day on www.deag.de in the "Investor Relations" section.
DEAG Deutsche Entertainment AG The Executive Board
Contact for further information: Mr. Axel Mühlhaus edicto GmbH Tel: +49-69-90 550 552 Email: deag@edicto.de
About DEAG DEAG Deutsche Entertainment AG is an integrated Entertainment Content company and a leading provider of Live Entertainment in Europe. With affiliated companies in the G/S/A countries (Germany-Switzerland-Austria) and the United Kingdom, DEAG promotes around 2,000 concerts and events per year in the fields of Rock/Pop, Festivals, Classical Music, German Hit Songs and Middle-of-the-Road Music as well as in the high-growth segment Family Entertainment, and sells more than 4.5 million tickets per year at present. As an integrated Entertainment Content company, DEAG covers the entire value chain in Live Entertainment comprehensively with its 360 degree approach: from concerts via record sales, rights exploitation, sponsorships, merchandizing to ticketing through the DEAG Group's own online distribution platforms myticket.de and myticket.co.uk. The shares of DEAG (ISIN: DE000A0Z23G6 | WKN: A0Z23G | Ticker-Symbol: ERMK) are listed in the Prime Standard of the Frankfurt Stock Exchange. More information on www.deag.de
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30.11.2015 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. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: DEAG Deutsche Entertainment Aktiengesellschaft Potsdamer Straße 58 10785 Berlin Germany Phone: +49-30-810 75-0 Fax: +49-30-810 75-519 E-mail: deag@edicto.de Internet: www.deag.de ISIN: DE000A0Z23G6 WKN: A0Z23G Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of News DGAP News Service ---------------------------------------------------------------------------
419519 30.11.2015
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