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04.02.2016 16:30:36
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DGAP-Ad hoc: DEAG Deutsche Entertainment AG
DGAP-Adhoc: DEAG Deutsche Entertainment Aktiengesellschaft anticipates an EBIT of at least EUR 3 to 5 million in 2016
- So far about 1.8 million tickets sold within the Group for 2016
- At least doubling in sales revenues by myticket.de to be expected
- In Germany already around 10 % of all DEAG tickets currently sold through myticket.de
Berlin, February 04, 2016 - DEAG Deutsche Entertainment Aktiengesellschaft (ISIN: DE000A0Z23G6 | ERMK) anticipates earnings before interest and taxes (EBIT) of at least EUR 3 to 5 million for the current fiscal year, based on a conservative calculation. A higher value is operationally and through additional one-off effects possible. After 9 months the EBIT amounted to EUR -12.7 million in fiscal 2015.
The 2016 business expectations are driven by the following factors, amongst others: a foreseeable positive development in the Tour and Concert business, underpinned by 1.8 million tickets already sold today for the around 1,900 events, which are in advance sales for 2016 and a clear ramp-up curve for the tickets sold through the Group's own distribution platform, myticket.de. The high-margin sales revenues of myticket.de are likely to at least double in 2016. In December 2015 and January 2016 already around 10 % of all DEAG tickets were sold in Germany through myticket.de.
As far as its rock festivals are concerned, DEAG has succeeded in winning over high-profile and crowd-pulling artists as headliners for all four events in May and June 2016. The advance ticket sales have developed in an accordingly positive manner. So far already more than 100,000 tickets have been sold for the rock festivals. The advance ticket sales for the individual festivals are partly significantly above the prior year level. Against the backdrop of the internationally successful establishment amongst artists and agents, the competition situation for the festivals has undergone a positive change for 2016 as well. The necessary expenses for fees and production costs in this field have been reduced during the current year by around EUR 21 million, with the same quality level. Under these circumstances DEAG has decided to stage the festival in North-Rhine Westphalia in 2016 not in Gelsenkirchen, but in the Dortmund Westfalenhalle arena. Visibility concerning costs and results for the festivals has significantly increased during the second year of organization. Consequently, DEAG expects for the current year an almost balanced contribution to earnings from the Festival business unit. In 2015 a double-digit million Euro deficit had accrued for the festivals, amongst others due to the necessary start-up expenditure and one-off effects which were fully posted during the first three quarters of the past year.
The forecast does not take into account a positive impact on the income of the Group which might result from possible inflows of funds from legal proceedings and compositions for DEAG during the current fiscal year. In connection with the planned rock festival at the Nürburgring in 2015 DEAG asserts claims of altogether more than EUR 10 million. Incoming payments would in that case be almost fully recognized in the income statement since the associated expenses have likewise already been recorded during the first three-quarters of 2015.
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Information and Explaination of the Issuer to this News:
The four big rock festivals of DEAG will be staged at the end of May/beginning of June 2016: the 'Sonisphere Festival - Allmend rocks' in Luzern, 'Rock in Vienna' in Vienna, 'Rockavaria' in Munich and 'Rock im Revier' in North-Rhine Westphalia. Top acts will be, amongst others, Iron Maiden, Rammstein, Slayer, Nightwish, Iggy Pop, In Extremo and Sabaton as well as many other top-class artists.
For the festivals already more than 100,000 tickets have been sold four months before their staging. The 'Sonisphere Festival - Allmend rocks' is almost sold out, the sales numbers for 'Rock in Vienna' are currently with approximately 60 % above the good prior year value and 'Rockavaria', too, continues with the good sales numbers of 2015. Concerning the festival in North-Rhine Westphalia, DEAG has selected a new venue following co-ordination with the artists and decided in favor of the Dortmund Westfalenhalle arena, which boasts a successful tradition of large rock/pop events of many decades. It is intended to continue this established tradition with 'Rock im Revier'. At the same time the Westfalenhalle provides DEAG with attractive economic terms and conditions which represent an excellent mix with a tried and tested good offering for music fans. The Executive Board of DEAG will analyze the rock festival in North-Rhine Westphalia in detail in view of sustainable profitability but is optimistic that it will be able to establish a long-term successful festival in this region, too.
DEAG Deutsche Entertainment Aktiengesellschaft The Executive Board
Contact for further information: Axel Mühlhaus edicto GmbH Tel: +49-69-90 550 552 E-Mail: deag@edicto.de
04.02.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
--------------------------------------------------------------------------- Language: English Company: DEAG Deutsche Entertainment Aktiengesellschaft Potsdamer Straße 58 10785 Berlin Germany Phone: +49-30-810 75-0 Fax: +49-30-810 75-519 E-mail: deag@edicto.de Internet: www.deag.de ISIN: DE000A0Z23G6 WKN: A0Z23G Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Forecast
04.02.2016 16:30
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Ad-hoc announcement in accordance with § 15 WpHG (German Securities Trading
Act)
DEAG anticipates an EBIT of at least EUR 3 to 5 million in 2016
- Festivals established - encouraging advance ticket sales and tight risk
management
- So far about 1.8 million tickets sold within the Group for 2016
- At least doubling in sales revenues by myticket.de to be expected
- In Germany already around 10 % of all DEAG tickets currently sold through myticket.de
Berlin, February 04, 2016 - DEAG Deutsche Entertainment Aktiengesellschaft (ISIN: DE000A0Z23G6 | ERMK) anticipates earnings before interest and taxes (EBIT) of at least EUR 3 to 5 million for the current fiscal year, based on a conservative calculation. A higher value is operationally and through additional one-off effects possible. After 9 months the EBIT amounted to EUR -12.7 million in fiscal 2015.
The 2016 business expectations are driven by the following factors, amongst others: a foreseeable positive development in the Tour and Concert business, underpinned by 1.8 million tickets already sold today for the around 1,900 events, which are in advance sales for 2016 and a clear ramp-up curve for the tickets sold through the Group's own distribution platform, myticket.de. The high-margin sales revenues of myticket.de are likely to at least double in 2016. In December 2015 and January 2016 already around 10 % of all DEAG tickets were sold in Germany through myticket.de.
As far as its rock festivals are concerned, DEAG has succeeded in winning over high-profile and crowd-pulling artists as headliners for all four events in May and June 2016. The advance ticket sales have developed in an accordingly positive manner. So far already more than 100,000 tickets have been sold for the rock festivals. The advance ticket sales for the individual festivals are partly significantly above the prior year level. Against the backdrop of the internationally successful establishment amongst artists and agents, the competition situation for the festivals has undergone a positive change for 2016 as well. The necessary expenses for fees and production costs in this field have been reduced during the current year by around EUR 21 million, with the same quality level. Under these circumstances DEAG has decided to stage the festival in North-Rhine Westphalia in 2016 not in Gelsenkirchen, but in the Dortmund Westfalenhalle arena. Visibility concerning costs and results for the festivals has significantly increased during the second year of organization. Consequently, DEAG expects for the current year an almost balanced contribution to earnings from the Festival business unit. In 2015 a double-digit million Euro deficit had accrued for the festivals, amongst others due to the necessary start-up expenditure and one-off effects which were fully posted during the first three quarters of the past year.
The forecast does not take into account a positive impact on the income of the Group which might result from possible inflows of funds from legal proceedings and compositions for DEAG during the current fiscal year. In connection with the planned rock festival at the Nürburgring in 2015 DEAG asserts claims of altogether more than EUR 10 million. Incoming payments would in that case be almost fully recognized in the income statement since the associated expenses have likewise already been recorded during the first three-quarters of 2015.
---------------------------------------------------------------------------
Information and Explaination of the Issuer to this News:
The four big rock festivals of DEAG will be staged at the end of May/beginning of June 2016: the 'Sonisphere Festival - Allmend rocks' in Luzern, 'Rock in Vienna' in Vienna, 'Rockavaria' in Munich and 'Rock im Revier' in North-Rhine Westphalia. Top acts will be, amongst others, Iron Maiden, Rammstein, Slayer, Nightwish, Iggy Pop, In Extremo and Sabaton as well as many other top-class artists.
For the festivals already more than 100,000 tickets have been sold four months before their staging. The 'Sonisphere Festival - Allmend rocks' is almost sold out, the sales numbers for 'Rock in Vienna' are currently with approximately 60 % above the good prior year value and 'Rockavaria', too, continues with the good sales numbers of 2015. Concerning the festival in North-Rhine Westphalia, DEAG has selected a new venue following co-ordination with the artists and decided in favor of the Dortmund Westfalenhalle arena, which boasts a successful tradition of large rock/pop events of many decades. It is intended to continue this established tradition with 'Rock im Revier'. At the same time the Westfalenhalle provides DEAG with attractive economic terms and conditions which represent an excellent mix with a tried and tested good offering for music fans. The Executive Board of DEAG will analyze the rock festival in North-Rhine Westphalia in detail in view of sustainable profitability but is optimistic that it will be able to establish a long-term successful festival in this region, too.
DEAG Deutsche Entertainment Aktiengesellschaft The Executive Board
Contact for further information: Axel Mühlhaus edicto GmbH Tel: +49-69-90 550 552 E-Mail: deag@edicto.de
04.02.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
--------------------------------------------------------------------------- Language: English Company: DEAG Deutsche Entertainment Aktiengesellschaft Potsdamer Straße 58 10785 Berlin Germany Phone: +49-30-810 75-0 Fax: +49-30-810 75-519 E-mail: deag@edicto.de Internet: www.deag.de ISIN: DE000A0Z23G6 WKN: A0Z23G Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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