CTS Eventim AG / Key word(s): Preliminary Results
15.11.2012 09:31
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)
Nine-month Report 2012 (1.1. - 30.09.2012)
CTS EVENTIM increases revenue and earnings
Group revenue rises 4.8% to EUR 362.7 million / EBITDA grows 28.0% to EUR
71.3 million / EBIT improved by 39.5% to EUR 54.4 million / Live
Entertainment segment benefits from very successful festivals/tours /
Ticketing segment boosts EBITDA by 18.6% despite fewer events during the
European Football Championships and the Olympic Games / Positive revenue
and earnings outlook for 2012 as a whole
Munich, 15.11.2012. CTS EVENTIM AG, listed on the SDAX exchange (ISIN
DE0005470306), achieved further growth in Group revenue and earnings during
the first nine months of the 2012 financial year, thus continuing the
positive trend established in recent quarters. The Group also succeeded in
further consolidating its leading position in the European ticketing market
and live events industry.
In the first nine months of the current financial year, the CTS Group
generated EUR 362.7 million in Group revenue (Q1-3/2011: EUR 345.9 million,
up 4.8%), an EBITDA of EUR 71.3 million (Q1-3/2011: EUR 55.7 million, up
28.0%) and an EBIT of EUR 54.4 million (Q1-3/2011: EUR 39.0 million, up
39.5%). Normalised EBITDA, at EUR 70.4 million, was up 11.2% (Q1-3/2011:
EUR 63.3 million). Normalised EBIT, before amortisation from purchase price
allocation (Ticketcorner Group and See Tickets Germany / Ticket Online
Group), was up 12.1% year-on-year at EUR 61.2 million (Q1-3/2011: EUR 54.5
million).
The Ticketing segment registered a 7.3% drop in revenue in the first nine
months of 2012 (before consolidation between the segments), to EUR 140.1
million (Q1-3/2011: EUR 151.1 million). This decrease in revenue is mainly
attributable to two factors: the comparatively high figure in HY1/2011 due
to ticket sales for the FIFA 2011 Women's World Cup in Germany, and the
major international sports events in summer 2012 (European Football
Championships and the Olympic Games), whose dominance meant fewer events in
presales. Earnings growth in the Ticketing segment is nevertheless very
encouraging; EBITDA rose 18.6% to EUR 48.6 million (Q1-3/2011: EUR 41.0
million), while EBIT increased 29.3% to EUR 33.3 million (Q1-3/2011: EUR
25.8 million). Normalised EBITDA was 1.8% lower at EUR 47.8 million
(Q1-3/2011: EUR 48.7 million), while normalised EBIT before amortisation
from purchase price allocation was down 3.0% at EUR 40.1 million
(Q1-3/2011: EUR 41.3 million). The highly profitable online ticketing
business contributed yet again to this improvement in earnings by selling a
total of 12.7 million tickets (Q1-3/2011: 12.6 million). After adjusting
for Internet ticketing sales for the FIFA Women's World Cup in HY1/2011, a
year-on-year improvement of around 4% was achieved.
In the first nine months of 2012, the Live Entertainment segment achieved a
substantial 13.8% year-on-year increase in revenue to EUR 226.4 million,
compared to EUR 198.9 million in Q1-3/2011. The EBITDA figure improved
radically by 57.0% to reach EUR 23.0 million (Q1-3/2011: EUR 14.7 million),
with EBIT advancing 62.3% to EUR 21.5 million (Q1-3/2011: EUR 13.2
million). Earnings were boosted by profitable live events, especially
established festivals like 'Rock am Ring' and 'Rock im Park', while tours
by Bryan Adams, Coldplay, Nickelback and Shadowland met with huge demand
from fans.
The Management Board expects revenue and earnings for the 2012 financial
year to show yet another improvement over the previous year. The relatively
small number of events in presales over recent quarters, mainly due to
international sports events, is offset by a very high concentration of
presales in the fourth quarter of the year. A strong line-up featuring acts
like Pink, Depeche Mode, Roger Waters, Linkin Park, KISS, Joe Cocker,
Rihanna and Eric Clapton, combined with the successful launch of Eventim
FanTickets, is underpinning the Management Board's expectations for the
2012 financial year.
The full interim 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 28 November 2012.
For further information contact:
Marco Haeckermann, Director Investor Relations, CTS EVENTIM AG, + 49 421
3666 270
Volker Bischoff, CFO, CTS EVENTIM AG, +49 (0)421 3666 233
15.11.2012 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
Germany
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 increases revenue and earnings
| Source: EQS Group AG