Deutsche Entertainment AG (DEAG) has reported organic growth of 24% year-on-year in Q1.
The German music promoter, which has a controlling stake in Kilimanjaro Live and Flying Music Group, had revenues of €25.5 million (£22.5m) in the first three months.
While last year’s Q1 revenue figure was €27m (£23.85m), that included a sales contribution of €6.5m (£5.7m) from Raymond Gubbay. DEAG has since sold its stake in the UK classical promoter
EBITDA rose 25% year-on-year to €1m (£883,000) in Q1. All five divisions – Rock/Pop, Arts+Exhibitions, Family Entertainment, Classics & Jazz and Ticketing – contributed to the company’s growth.
DEAG expects continued growth in sales and EBITDA in 2019, as a result of the investments in its three core markets of Germany, UK and Switzerland.
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