Features
DEAG ‘Exceptionally Optimistic’
German live entertainment giant
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According to the company’s mid-year figures, sales rose by 14.4 per cent to €90.2 million, compared with €78.9 million in the first six months of 2016.
“By comparison, organic sales growth alone amounted to 33% in the first half of 2017, and almost 40% before consolidation, excluding the previous year’s sales (€10.9m) from Manfred Hertlein Veranstaltungs GmbH, which was sold in early 2017,” the earnings report states.
This growth helped the company to move out of the red and reach an operating result before interest and taxes of €.3 million.
That figure was down to minus 3.6m in the previous year. Successful events in the first half of this year included concerts by Ed Sheeran, David Garrett, Craig David, Aerosmith, Iron Maiden and KISS, as well as the first Böhse Onkelz open air Matapaloz at Hockenheimring.
Family shows like “Disney on Ice” or Tini (Violetta) were “spectator magnets” as well. DEAG claims it has a “well-filled event pipeline” for the second half of the year, including three sold-out
The business development has DEAG’s executive board “exceptionally optimistic” about the rest of the year and beyond: “We’re already looking forward optimistically to 2018. Event pre-sales are quite promising,” company founder and CEO Peter Schwenkow said.
He added that the recent acquisition of British promoter Flying Music Group “will help us make better use of the growth opportunities in our second home market in the UK.”