CTS Eventim AG / Quarter Results
18.08.2010 11:18
Dissemination 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.
---------------------------------------------------------------------------
Ad-hoc announcement
CTS Eventim achieves further growth in revenue and earnings
Revenue increases by around 8.8% to EUR 270.9 million / Normalised EBITDA
up 18.7% to EUR 46.9 million / Internet ticketing volume expands by 30% /
160 million visitors to the online portals / Successful acquisitions
Munich, 18.08.2010. The CTS Group maintained its strong growth throughout
the first half of 2010. CTS EVENTIM AG, which is listed in the SDAX index
(ISIN DE 0005470306), is Europe's market leader in the ticketing field and
the world's third largest provider of Live Entertainment. In the six months
from January to June 2010, the Group gained additional market shares and
grew in every segment in which it operates.
According to preliminary figures, the CTS Group generated EUR 270.9 million
in revenue in the first half of 2010 (HY1/2009: EUR 249.0 million, up
8.8%), an EBIT of EUR 38.2 million (HY1/2009: EUR 35.3 million, up 8.4%)
and an EBITDA of EUR 43.9 million (HY1/2009: EUR 39.5 million, up 10.9%).
Half-year earnings were kept in check by various factors, including the
costs of acquiring Ticketcorner Holding AG and See Tickets Germany GmbH.
After adjustment for these special effects, the normalised figures show a
Group EBIT of EUR 41.3 million (up 17.1%) and an EBITDA of EUR 46.9 million
(up 18.7%). These recent acquisitions will have positive effects on both
revenue and earnings not least because of substantial scale effects.
In the Ticketing segment, international expansion and high-margin Internet
ticket sales were the key drivers behind further increases in revenue and
earnings. Between 1 January and 30 June 2010, the CTS Group sold around 7.4
million tickets via the Internet, which equates to a 30% improvement
year-on-year (HY1/2009: around 5.7 million). During that 6-month period,
the Group's online portals logged no fewer than 160 million visitors
(HY1/2009: around 141 million). With revenue at EUR 81.5 million before
consolidation of segments (HY1/2009: EUR 67.1 million, up 21.6%), an EBIT
figure of EUR 19.9 million was generated (HY1/2009: EUR 18.7 million, up
6.7 %). EBITDA rose to EUR 24.5 million, up 11.9% on the HY1/2009 figure of
EUR 21.9 million. EBIT and EBITDA were significantly curtailed by the
aforementioned special effects in the Ticketing segment. Normalised figures
show a Ticketing segment EBIT of EUR 23.0 million (up 23.0%) and an EBITDA
of EUR 27.6 million (up 25.9%).
Despite a smaller number of attractive concerts and tours than in the same
period of 2009, the Live Entertainment segment still produced EUR 192.8
million in revenue (HY1/2009: EUR 183.4 million, up 5.1%). The EBIT for the
first six months was 10.3% higher at EUR 18.3 million (HY1/2009: EUR 16.6
million), while EBITDA increased 9.6% to EUR 19.3 million (HY1/2009: EUR
17.7 million).
The main focus in the current financial year is therefore the further
intensification of Internet ticketing as well as acquisition-driven
expansion in Germany and abroad.
The most recent major acquisition by the Group was effected on 6 July 2010,
when 100% of the shares in Hamburg-based See Tickets Germany GmbH / Ticket
Online Group were taken over. This company generates around EUR 40 million
revenue and sells around 20 million tickets. In a 12-year partnership
agreement, CTS EVENTIM also secured exclusive ticketing access to the
musicals produced by the Stage Entertainment Group. In the first quarter of
2010, the CTS Group acquired 100% of the shares in Ticketcorner Holding AG,
a Swiss ticketing group. In the 2009 financial year, the latter company
produced revenue in the order of EUR 24 million by selling around 9.3
million tickets in total.
The full interim report will be available on the Internet at www.eventim.de
in both German and English as from 26 August 2010, in an online version and
in download form.
For further information contact:
Volker Bischoff, CFO, CTS EVENTIM AG, +49 (0)421-3666-233
18.08.2010 11:18 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
---------------------------------------------------------------------------
Language: English
Company: CTS Eventim AG
Dingolfinger Str. 6
81673 München
Deutschland
Phone: 0421/ 3666-233
Fax: 0421/ 3666-290
E-mail: claudia.aderhold@eventim.de
Internet: www.eventim.de
ISIN: DE0005470306
WKN: 547030
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Düsseldorf, Berlin, Hannover, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------
DGAP-Adhoc: CTS Eventim achieves further growth in revenue and earnings
| Source: EQS Group AG