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DEAG hails sharp growth in earnings

World News
April 1, 2019

GERMANY               

PROMOTER, TICKETING and label conglomerate Deutsche Entertainment AG (DEAG) says its 2018 earnings before interest, tax, depreciation and amortisation (EBITDA) were up 123 per cent, year-on-year, to €14.6 million ($16.4m).

It reported a 110 per cent rise in earnings before interest and taxes (EBIT) from €5.1m ($5.7m) the previous year, to €10.6m ($11.9m).

The preliminary figures include a 20 per cent rise in sales to €215m ($241m), up from €179m ($201m) the previous year.

DEAG said it is exploring opportunities for “internal and external” growth across is divisions, which include live music, family entertainment, arts & exhibitions and ticketing.

The company appointed Roman Velke, who joined DEAG in 2011 from accountancy firm BDO, as chief financial officer earlier this month.

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