BERLIN (CelebrityAccess) — German entertainment company Deutsche Entertainment AG reported “strong organic growth” for the first fiscal quarter of 2019, with revenue up by 24% from the previous year.
DEAG noted that its revenue performance was due to several very family-oriented shows, including the Harry Potter exhibition in Potsdam, various Disney on Ice events and its the Christmas Garden events which the company extended into January this year.
However, at the same time, sales for the quarter slipped by 5.4% to EUR 25.5 million. DEAG attributed the shortfall to the sale of its stake in the UK-based fine arts producer Raymond Gubbay Live to Sony Music Entertainment International in 2018.
DEAG also recorded sales of €25.5 million in Q1 2019 and that EBITDA (earnings before interest, taxes, depreciation, and amortization) topped €1m for the quarter, up from €800,000 in Q1 2018.
DEAG also said it’s on track for its full-year results, with yet-to-be-announced investments in its three core markets of Germany, England and Switzerland driving further growth in sales and EBITDA.