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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 yearon-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.
