DEAG back in black in Q1 but growth slows
Despite the German promoter's return to profit, income is 85% less than this time last year, although there are positive signs for ticketing business myticket.de
News By | 1 June 2016
After losing €17.8 million in 2015, Deutsche Entertainment AG (DEAG) is back in the black, posting earnings before interest and taxes (EBIT) of €300,000 in the first quarter of 2016 (Q1).
Despite the promoter and ticketer’s return to profit, income is 85% less than last year’s EBIT of €2m, with revenue also down: €31.3m, compared to €38.9m in Q1 2015.
Berlin-based DEAG notes, however, that its pipeline for the rest of 2016 is “well filled, as expected”, with “rock/pop, classical music, German-language music and…
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