DEAG Reports Growth In Q3

Revenues could’ve been higher, hadn’t it been for expenses caused by the inception of DEAG’s new open-air festivals Rockavaria and Rock im Revier, which both premiered in 2015 – Rockavaria in Munich, Rock im Revier in Gelsenkirchen.

The one-off investment led to a negative EBIT of minus euro 12.7 million, compared with plus euro 4.2 million after Q3/2014. The result would have looked different, had outstanding claims already been driven home, it is stated in the company’s earnings report – referring to the ongoing dispute with Capricon Nürburgring GmbH, the operators of German’s iconic site Nürburgring, where DEAG wanted to promote a festival named Grüne Hölle, after MLK and its Rock am Ring event had left the site.

It never happened though, because both parties did not come to terms. The adjusted EBIT, including those outstanding claims, would have amounted to euro 1.8 million, the report states. DEAG’s overall financial result shrunk by euro 0.2 million to minus euro 0.5 million.

As far as projected ticket sales for the year 2015 are concerned, expectations were exceeded. DEAG expects to sell almost 5 million tickets for its shows by the end of this fiscal year. According to the report, the company’s online ticket shop myticket “developed outstandingly”, although no numbers are presented.

In August this year, myticket stepped up its game through the involvement of German media powerhouses Axel Springer and Starwatch Entertainment, which is part of the ProSiebenSat.1 Group. Both companies contribute 20 percent each to myticket’s basic capital and support it with a range of media services.