DEAG Reports Organic Growth In Q1, Plans Investments

Berlin-based Deutsche Entertainment AG reported that it has started its financial year 2019 with a successful first quarter. 

Sales in Q1/2019amounted to €25.5 million ($28.6 million). “After adjusting the previous year’s figure (€27.0 million) for the sales contribution of Raymond Gubbay Limited (€6.5 million), which was deconsolidated in 2018, this equates to organic growth of 24%,” the report states.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to €1 million ($1.1 million) compared to the previous year (€0.8 million).

According to the DEAG report, all of its five divisions Rock/Pop, Arts+Exhibitions, Family Entertainment, Classics & Jazz and Ticketing contributed to this growth. For the remainder of the year, the executive board expects growth in sales and EBITDA also as a result of the investments in companies in the three core markets of Germany, England and Switzerland, which are currently close to completion.

The company declined to talk about further details regarding the investments, as negotiations are ongoing.