- Pressemitteilung BoxID 154007
DEAG Deutsche Entertainment Aktiengesellschaft: DEAG meets 2009 forecast
DEAG meets 2009 forecast: EBITDA plus 73%, EBIT clearly turns positive to EUR 4.8 million
- Sales climb to EUR 116.0 million
- Further rise in results planned for 2010
- CEO and founder Peter L.H. Schwenkow extends contract until 2015
- Rights catalogue to be expanded
According to preliminary figures DEAG Deutsche Entertainment AG (ISIN DE000A0Z23G6) significantly developed all results ratios during 2009 as announced. EBIT improved by EUR 7.9 million from minus EUR 3.1 million to a positive EUR 4.8 million. EBITDA climbed by around 73 per cent from EUR 3.7 million to EUR 6.4 million. Sales rose despite the 2009 divestiture of two subsidiaries in the fiscal year from EUR 109.5 million to EUR 116.0 million and an annual profit was generated. Final figures are to be released on March 31, 2010. For the current fiscal year DEAG expects results to rise significantly in all relevant divisions.
CEO and founder Prof. Peter L.H. Schwenkow, extended his executive board contract in consultation with the supervisory board prior to maturity until the year 2015. As a sign of confidence into the continuation of the positive development Schwenkow waives around 30 per cent of his fixed annual remuneration in favour of a higher profit-related share of his salary.
DEAG - one of the most successful live entertainment groups in Europe - has consistently reached good results over the last three years opening new market segments and revenue streams within the framework of what is known as the 360-degree-strategy offering artists and customers all services from one source.
The most important steps were building the pan-european Classical Music business and the in-house record label DEAG MUSIC as well as developing the divisions music publishing, sponsoring, merchandising, live-recording and premium/VIP-packages.
The expansion of a substantial catalogue of rights as well as of the merchandising and sponsoring segment illustrates the process leading to an integrated entertainment content company.
Apart from the established live and touring business and the building of a substantial catalogue of rights in the audio and audiovisual segment the development of the value chain through music publishing, record label, merchandising, rights trading and sponsoring is to continue over the next years and earnings from these new segments are to triply within three years.
Further increases in sales and earnings are to be mainly generated from organic growth and already emerging economies of scale and synergy potentials. Furthermore acquisition prospects and expansion of existing investments are to be evaluated selectively.
Apart from the main shareholder in DEAG, the family of founder Prof. Peter L. H. Schwenkow, the medium-sized investment company Heliad Equity Partners AG have committed itself to the futher strategic development of DEAG. Both partners will accompany the successful advancement of DEAG on a long term basis as active entrepreneurs.
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