DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key
word(s): Half Year Results
DEAG Deutsche Entertainment Aktiengesellschaft increases profit during
1st half-year 2014 and anticipates strong full year
29.08.2014 / 12:02
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Corporate News
DEAG increases profit during 1st half-year 2014 and anticipates strong full
year
* Earnings after minorities rise significantly
* 2014 seasonal structure for events proves its worth
* Bulging pipeline and high advance sales as a basis for a good 2nd
half-year
Berlin, August 29, 2014 - DEAG Deutsche Entertainment Aktiengesellschaft
("DEAG"), Berlin, (ISIN DE000A0Z23G6) has perfectly implemented its
objectives in terms of sales revenues and earnings during the 1st half-year
2014. Against the backdrop of a seasonal event structure of the industry as
a whole, which - not least due to large-scale events in summer such as the
FIFA World Cup - will have its absolute highlights during the 4th quarter
2014, sales revenues had already slightly increased by the end of the first
half-year. They rose from EUR 95.6 million during the prior year period to
EUR 96.7 million. Despite high distribution expenses in anticipation of the
sales revenue development during the 2nd half-year, earnings before
interest and taxes (EBIT) of EUR 5.2 million were on the prior year level.
Contributions to earnings from the acquisition in Great Britain are not yet
included.
Earnings after taxes and minorities jumped significantly on a Group level
from EUR 0.2 million during the prior-year period to now EUR 3.1 million.
In this connection it needs to be taken into account that the previous
period included a one-off charge of almost EUR 2.5 million. Even after the
deduction of this effect, there is a leap in earnings after taxes and
minorities of 15 %. Consequently, DEAG believes that it is in an excellent
starting position for the 2nd half-year 2014. This is also suggested by the
deferred revenues which increased significantly versus prior year and
reflect the already received income from ticket sales for future events. On
June 30, 2014 they amounted to EUR 38.8 million and were around 52 % higher
than a year ago. The further growth of DEAG proceeds from a sound financial
basis. The free liquid funds increased versus the end of fiscal 2013 from
EUR 22.9 million to EUR 33.9 million as at June 30, 2014.
During the 2nd half-year, which will be dominated by the 4th quarter, the
program will include, amongst others, upcoming concerts tours by Peter
Gabriel, Andrea Bocelli, UB40, David Garrett, Lenny Kravitz, Lady Gaga,
Neil Young, Backstreet Boys, Udo Jürgens and Metallica, which will be
supplemented by live events such as "Classical Spectacular", "Night of the
Jumps" and the "Salto Vitale" tour of Circus Roncalli. Consequently, the
Executive Board confirms its forecast according to which sales revenues and
all relevant earnings indicators are to increase again during the full year
2014.
The financial report on the 1st half-year 2014 will be available for
download on www.deag.de in the Investor Relations section from August 29,
2014.
DEAG Deutsche Entertainment AG
The Executive Board
Contact for further information:
Axel Mühlhaus, edicto GmbH
Tel: +49-69-90 550 552
Email: deag@edicto.de
About DEAG
DEAG Deutsche Entertainment AG is a leading provider of Live Entertainment
and the largest promoter of high-margin classical music events in Europe.
With affiliated companies in Germany, the United Kingdom, Austria and
Switzerland, DEAG promotes round about 2,000 events per year in the fields
of Rock/Pop, Classical Music, German Hit Songs and Middle-of-the-Road Music
as well as Family Entertainment, and sells about 4 million tickets per
year. As an integrated Entertainment Content company, DEAG covers the
entire value chain within the framework of its 360 degree approach. DEAG
Deutsche Entertainment AG (ISIN DE000A0Z23G6) is listed in the Prime
Standard segment of the Frankfurt Stock Exchange. For additional details:
www.deag.de
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29.08.2014 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.
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Language: English
Company: DEAG Deutsche Entertainment Aktiengesellschaft
Potsdamer StraÃe 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: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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284688 29.08.2014
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft increases profit during 1st half-year 2014 and anticipates strong full year
| Source: EQS Group AG