BERLIN (CelebrityAccess) — German live entertainment company DEAG posted record results in 2022, reporting their highest-ever revenue and EBITDA.
For fiscal year 2022, DEAG recorded revenue of EUR 325 million, up a whopping 258.3% year-over-year, and EBITDA of UR 31 million, up by more than 40% from 2021, the company said.
According to DEAG, the company’s strong performance in 2022 was driven by pent-up demand following the relaunch of live entertainment and the organic expansion of DEAG’s event pipeline.
The company also attributed the year’s results to the company’s M&A strategy and the expansion of its ticketing business, including the acquisition of the Irish ticketing platform tickets.ie.
According to DEAG, the expansion of its ticketing business has allowed them to sell a large share of tickets for their own events, along with developing business with third parties.
DEAG also noted the successful acquisition of promoters, festivals and events in the Rock/Pop, EDM (Electronic Dance Music) and Classics & Jazz genres and an expanded focus to Spoken Word & Literary Events.
“The enormous recovery and growth in revenue and EBITDA well above the level of the last comparable financial year 2019, a rock-solid balance sheet and a consistently implemented growth strategy characterised the year 2022 for DEAG. Our expansion measures, which we continued unwaveringly during the corona caesura, are bearing fruit. We will continue to move forward along this path. We sell ‘the little slice of happiness’ even in economically difficult times and have always seen particularly high demand, especially in recession years. With an increasing number of their own branded and thus also high-margin event formats, an organization and crew created for growth and ticketing that is growing steadily and with good margins, we can be confident for the years ahead. With the tailwind of strong annual figures and a very positive operating performance, we also see ourselves very well prepared for the upcoming refinancing of our corporate bond as well as the further consistent implementation of the corporate strategy,” commented Professor Peter L.H. Schwenkow, CEO of DEAG.