CTS EVENTIM AG / Preliminary Results
03.03.2008
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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CTS EVENTIM surpasses performance record established in World Cup year
Group increases revenue by 12.1% to EUR 384.4 million / Revenue in Live
Entertainment segment climbs 21.9%, in Ticketing segment (adjusted for
World Cup) 31.9% / EBITDA rises to EUR 53.9 million and EBIT to EUR 46.8
million / Superb prospects owing to 10-year agreement with Live Nation
Munich, 3 March 2008. CTS EVENTIM AG, listed on the SDAX exchange (ISIN
DE0005470306), established a new performance record in fiscal 2007, beating
the record established in 2006. The Group increased both revenue and
earnings, maintaining the persistent success and growth trends already
established over many years. Thanks especially to the strategic alliance
inked in December 2007 with Live Nation Worldwide Inc., the worldss
biggest live events company, the CTS Group has superb prospects for the
future.
The Group generated EUR 384.4 million in revenue (prior year: EUR 342.9
million, up 12.1%), an EBIT of EUR 46.8 million (prior year: EUR 45.7
million, up 2.4%) and an EBITDA of EUR 53.9 million (prior year: EUR 52.0
million, up 3.6%). The operating profit was increased yet again, even
though the financial figures for 2006 had received an enormous boost from
the special Football World Cup project. The Managment Board considers the
2007 business year to have been a very satisfactory one. At the end of
March 2008, after the annual financial statements have been finalised, the
company will present the Group net income for the year, earnings per share
and a dividend proposal.
Ticketing: revenue increases by 31.9% and EBIT by 41.7% (after adjustment
for the World Cup)
The substantial increase in revenue and earnings achieved by the Ticketing
segment after adjusting for the effects of the special 2006 World Cup
project was mainly attributable to highly profitable ticket sales via
the Internet, and to expansion in Europe. With revenue at EUR 87.5 million
before consolidation of segments (prior year: EUR 66.3 million, up 31.9%),
the EBIT figure of EUR 26.3 million was generated (prior year: EUR 18.6
million, up 41.7%). The EBIT margin rose further from 28.0% to 30.1%.
EBITDA came in at EUR 32.0 million (prior year: EUR 23.8 million, up
34.5%). The Ticketing segment was positively impacted in 2006 by the
Football World Cup; as expected, the 2007 totals fell short of the previous
years. Compared to the unadjusted figures for 2006, the Ticketing segment
generated EUR 87.5 million in revenue as at 31.12.07 (prior year: EUR 99.3
million; down 11.9%), an EBIT of EUR 26.3 million (prior year: EUR 31.1
million; down 15.5%) and an EBITDA of EUR 32.0 million (prior year: EUR
36.8 million; down 12.9%). Internet sales increased in volume to 7.1
million tickets sold (prior year: 5.3 million, up 34%). The websites of the
CTS Group, especially the online portals at www.eventim.de and
www.getgo.de, logged a total of 164 million visitors in the course of 2007
(prior year: 136 million). The EBIT for the year under review was curtailed
by expenses incurred by foreign subsubiaries newly included in
consolidation, for example by integration costs totalling approx. EUR 1.4
million EUR.
Live Entertainment: 21.9% revenue growth and 40.5% higher EBIT
Following three record years, 2007 was characterised in the Live
Entertainment segment by superb business growth, with a large number of
events as well successful tours, festivals and events. The segment
generated EUR 301.3 million in revenue (prior year: EUR 247.2 million, up
21.9%), an EBIT of EUR 20.5 million (prior year: EUR 14.6 million, up
40.5%) and an EBITDA of EUR 21.8 million (prior year: EUR 15.2 million, up
43.4%). The record operating profit in this segment includes approximately
EUR 1.5 million more advance costs, compared to the prior years closing
date, for organising new tour products among others for a worldwide
presentation of the Tutanchamun exhibition.
Outlook: priority for internationale expansion with Live Nation
The Management Board is very satisfied with the Groups progress in the
2007 business year. Activities in 2008 will be focused primarily on
implementing the strategic alliance with Live Nation to achieve further
international expansion. The Management Board assumes that the 2008
business year will see further improvement in the key performance figures.
The Annual Report will be available on the Internet at www.eventim.de in
both German and English, in an online version and in download form, as from
31 March 2008.
For further information contact:
Volker Bischoff, CFO, CTS EVENTIM AG, +49 (0)421-3666-233
DGAP 03.03.2008
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Language: English
Issuer: CTS EVENTIM AG
Contrescarpe 75 A
28195 Bremen
Deutschland
Phone: +49 (0)421-36 66-233
Fax: +49 (0)421-36 66-290
E-mail: investor@eventim.de
Internet: www.eventim.de
ISIN: DE0005470306
WKN: 547030
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-Adhoc: CTS Eventim AG: Preliminary figures for the 2007 business year (as at 31.12.):
| Source: EQS Group AG