DEAG Reports Solid Financial Performance in 2023 and Appoints New CEO

DEAG Deutsche Entertainment Aktiengesellschaft announced a successful financial year 2023, with revenue at approximately EUR 313 million and adjusted EBITDA at EUR 31 million. The company achieved its 2023 targets, confirming a positive trend in organic business development without relying on post-pandemic catch-up effects. With over 10 million tickets sold, DEAG's ticketing business has been a major driver of this growth, alongside the successful implementation of its buy-and-build strategy.

In addition to financial successes, DEAG has made significant strides in leadership and strategy. Detlef Kornett will become the sole CEO in April 2024, as the founder Prof. Peter L.H. Schwenkow transitions to a senior advisor role. This move underscores a strategic leadership succession and the continuation of DEAG's growth trajectory into exciting market opportunities. The company anticipates revenue growth and an increase in EBITDA for the financial year 2024, expecting to surpass global market growth rates.

DEAG's strong performance in Q4 2023, with revenue of EUR 100 million and EBITDA of EUR 13 million, was driven by robust ticketing and Christmas business. The company also highlighted its international expansion, including entering the Spanish market and opening a new office in Wales. With approximately half of its revenue generated from its own event formats and further expansion anticipated, DEAG is positioned positively for 2024.