BERLIN, Germany (CelebrityAccess) German entertainment company Deutsche Entertainment AG (DEAG) announced their preliminary financial results for 2018, reporting strong revenue growth that beat expectations.
According to DEAG, revenue in 2018 increased by 25% to 200.2 million euros, up from 159.8 million euros in the previous year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by a whopping 123% in 2018 to EUR 14.6 million, up from 6.5 million EUR in 2017.
DEAG also painted a rosy picture for 2019, noting that “start of the current financial year was an excellent one for DEAG. A full event pipeline forms a solid basis for positive business development in 2019. DEAG sees realistic opportunities for internal and external growth in all business areas in 2019, including Rock / Pop, Classics & Jazz, Family Entertainment, Arts + Exhibitions and Ticketing,” the company said.
The final figures for the financial year 2018 will be published by DEAG with the full Annual Report 2018 on March 29, 2019.
The start of the current financial year was an excellent one for DEAG. The well-filled event pipeline forms a solid basis for positive business development in 2019. DEAG sees realistic opportunities for internal and external growth in all five business areas, Rock / Pop, Classics & Jazz, Family Entertainment, Arts + Exhibitions and Ticketing in the current year 2019.
DEAG’s preliminary earnings comes just days after the company announced the appointment of Roman Velke as chief financial officer. Velke will officially take over from his predecessor Ralph Quellmalz on April 1.
