BERLIN-BASED Deutsche Entertainment AG (DEAG) reported a 24 per cent year-on-year rise in sales revenue to €25.5 million ($28.4 million) during the first quarter of the year.
In Q2 last year DEAG’s sales amounted to €27m ($30m), but that included a €6.5m ($7.24m) sales contribution from UK-based classical music promoter Raymond Gubbay, which it sold last year.
DEAG’s Q1 earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to €1 million ($1.1 million), up 25 per cent from the previous year’s Q1 of €800,000 ($890,000).
The company said all its five divisions, Rock & Pop, Arts & Exhibitions, Family Entertainment, Classics & Jazz and Ticketing, contributed to the growth, and it said it expects to see further growth, with acquisitions in Germany, the UK and Switzerland close to completion.
DEAG and its subsidiaries, which promote around 4,000 events per year and sell more than five million tickets, include Kilimanjaro Live and Flying Music Group in the UK, Switzerland’s Good News Productions, Germany’s Wizard Promotions, Klaus Bonisch Konzertagentur, ACT Artist Agency and ticketing platform MyTicket.