CTS Eventim AG / Key word(s): Preliminary Results
22.02.2011 09:06
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.
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Ad hoc Announcement pursuant to Section 15 WpHG (Securities Trading Act)
Preliminary figures for the 2010 financial year (1.1. - 31.12.2010)
CTS EVENTIM maintains growth
Group revenue increases 11.3% to EUR 519.6 million / Normalised EBITDA
grows 19.8% to EUR 95.8 million / Ticketing revenue up 27.1%, Live
Entertainment revenue up 4.7% / Internet ticketing volume swells by around
28% to 17.1 million / Eventim online portals log around 360 million
visitors
Munich, 22.02.2011. CTS EVENTIM AG, listed in the SDAX index (ISIN DE
0005470306), achieved yet another substantial increase in revenue in the
2010 financial year and further consolidated its position as Europe's
market leader in the Ticketing and Live Entertainment segments. The
ticketing business for music, cultural and sports event proved to be
exceedingly robust and sustainable in a difficult business environment.
In the period from 1 January to 31 December 2010, the CTS Group generated
EUR 519.6 million in revenue (2009: EUR 466.7 million, up 11.3%), a
normalised EBITDA of EUR 95.8 million (2009: EUR 80.0 million, up 19.8%)
and a normalised EBIT before amortisation relating to the purchase price
allocation (Ticketcorner Holding AG and See Tickets Germany GmbH) of EUR
85.7 million (2009: EUR 71.3 million, up 20.2%). Due to the acquisition of
Ticketcorner Holding AG and See Tickets Germany GmbH and the pending
arbitration proceedings against Live Nation, the operating profit is
temporarily reduced by acquisition/integration costs and legal consultancy
expenses. After accounting for these special effects, the EBITDA amounts to
EUR 88.0 million and the EBIT to EUR 70.6 million. The Group net income,
the earnings per share and a dividend proposal will be presented by the
Management Board at the end of March 2011, after finalisation of the annual
financial statements.
In the Ticketing segment, organic growth in the core European markets and a
number of successful acquisitions resulted in a substantial 27.1% increase
in revenue to EUR 193.9 million before consolidation between the segments,
compared to EUR 152.5 million in 2009. In 2010, CTS EVENTIM sold 17.1
million tickets via the Internet alone - a year-on-year increase of around
28% (2009: 13.4 million). Around 360 million visits to the online Eventim
portals were logged (2009: 303 million). The impacts of the aforementioned
special effects were confined to the Ticketing segment. Normalised EBITDA
was 25.1% higher at EUR 69.3 million (2009: EUR 55.4 million), while
normalised EBIT before amortisation relating to the purchase price
allocation rose 24.7% to EUR 61.2 million (2009: EUR 49.0 million). After
accounting for special effects, the EBITDA figure was EUR 61.5 million and
the EBIT figure EUR 46.1 million.
In the Live Entertainment segment, the record performance achieved in 2009
was surpassed in the 2010 financial year. Revenue improved to EUR 333.8
million (2009: EUR 318.7 million, up 4.7%). EBITDA increased 8.1% to EUR
26.5 million (2009: EUR 24.5 million), EBIT was 10.3% higher at EUR 24.5
million (2009: EUR 22.2 million). Success in this field is rooted in the
wide range of outstanding events on offer, from rock, pop and sport to
musicals and festivals, and in the creation of new types of events.
In 2011, the Group will retain its focus on the continuous growth of
Internet ticketing operations, on international expansion and on
integrating its newly acquired companies. The Management Board expects the
Group to progress well in the current financial year and to achieve yet
another improvement in revenue and earnings.
For further information contact:
Marco Haeckermann, Director Investor Relations, CTS Eventim AG, + 49 421
3666 270
Volker Bischoff, CFO, CTS EVENTIM AG, +49 421 3666 250
22.02.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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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 Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: CTS Eventim AG: CTS EVENTIM maintains growth
| Source: EQS Group AG