DEAG Celebrates ‘Best Quarter In Five Years’
German entertainment company DEAG boasted of its best quarter in five years, and earned almost half of its total annual sales in the last three months of 2016.
Total sales in Q4 amounted to euro 86.8 million, a 61 percent increase from the fourth quarter of 2015. DEAG names its Christmas events, “Disney on Ice,” “Marvel Universe Live” and concerts by Red Hot Chili Peppers, Böhse Onkelz, David Garrett and others as the main sales drivers.
Overall sales in 2016, based on preliminary, unaudited figures, amounted to euro 204.9 million prior to consolidation “and was thus roughly on the previous year’s level,” the company states.
Preliminary 2016 sales after consolidation amounted to euro 184.8m, compared to euro 200.4 million in 2015.
EBIT increased from a loss of euro 26.2 million to a gain of euro 500,000 year on year. The full financial report will be available April 28.
“In addition to our strong presence in the German-speaking countries, our UK business also paid off with disproportionate organic growth, now accounting for around 35 percent of DEAG’s total sales,” DEAG stated.