- Pressemitteilung BoxID 134665
DEAG ahead of plan for EBIT and above prior year period for sales revenues after nine months
- In a difficult market environment, EBIT improves from EUR -2.4 m to EUR +2.3 m
- Sales revenues rise to EUR 81.2 million after EUR 76.4 million
- Strong Q4 anticipated and annual forecast confirmed Berlin, November 30, 2009 - DEAG Deutsche Entertainment AG (ISIN DE000A0Z23G6) continues to report a positive development during the first nine months of fiscal 2009 for both sales revenues and the result and growth in all business lines.
Between January 1 and September 30, 2009, the company generated sales revenues of EUR 81.2 million (prior year: EUR 76.4 million). EBIT climbed from EUR -2.4 million to EUR +2.3 million and hence exceeded planning.
Earnings after tax likewise moved from EUR -3.6 million to EUR +1.1 million. The earnings per share improved from EUR -0.21 to EUR +0.03 and the operating cash flow amounted to EUR 1.8 million.
Thanks to its sustainable and viable strategy DEAG was able to set itself apart from the stagnant overall development of the market (GfK Study on consumption behavior of concert and event visitors in Germany in 2008, November 2009). This was ensured by focusing on its high-margin core business, the expansion of the Classical Music segment and the intense development of the 360 degree model in the publishing and recording segment.
In August 2009 Sony Music Entertainment acquired a 49% interest in the European Classical Music business of DEAG. This step resulted in a strengthening and development of artist relationships. Together they are planning a further expansion into other European countries.
The DEAG Group anticipates a strong 4th quarter and, moreover, a continuation of the good development. Raymond Gubbay Ltd. will stage many well-attended productions in Q4 in the Royal Albert Hall and for the first time also in the London arena The O2. DEAG Classics was able to sign another long-term partnership through the exclusive take-over of the live business of Klassik Radio AG. This Agreement secures the company high-value media volumes. The activities of the Good News Group and the label/music publisher DEAG Music will close well ahead of plan.
Many tours and concerts for 2010 are already on the market. Advance ticket sales for a major Peter Maffay tour started on November 28. Tickets for the three tours with David Garrett are already chalking up very high sales also against the backdrop of the latest album and DVD released of this artist with DEAG Music. This development is further confirmation that the 360 degree strategy is the right step when it comes to diversification of the core business.
Against the backdrop of the positive and ahead-of-schedule development of the first three quarters and the strong concert pipeline in Q4, Management Board fully confirms its forecast for the current year, despite the ongoing uncertain business environment. With sales revenues well in excess of EUR 100 million all earnings ratios are expected to be ahead of prior year and the financial statements in the positive range.
The full quarterly report will be posted online today at www.deag.de under Investors.
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