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Munich, 17.11.2010. CTS EVENTIM AG, listed on the SDAX exchange (ISIN DE0005470306), maintained its continuous growth in the first nine months of 2010. The reporting period was characterised by corporate acquisitions of Ticketcorner Holding AG and See Tickets Germany GmbH.
According to preliminary figures for the period from 1 January to 30 September 2010, the CTS Group generated revenue of EUR 372.4 million (Q1-3/2009: EUR 329.5 million), which equates to a growth rate of 13%. EBITDA was 10.1% higher at EUR 55.6 million (Q1-3/2009: EUR 50.5 million), while EBIT increased 0.4% to EUR 44.2 million (Q1-3/2009: EUR 44.1 million). Earnings figures for the first nine months were constrained by costs for acquisitions and legal consultancy relating to the Live Nation arbitration proceedings. After adjustment for these special effects, the normalised figures show a Group EBITDA of EUR 60.0 million (up 18.9%) and an EBIT of EUR 53.0 million (up 20.2%) before amortisation resulting from purchase price allocation (Ticketcorner Holding AG und See Tickets Germany GmbH).
The Ticketing segment achieved further revenue growth in the first nine months of 2010. Revenue before consolidation between the segments rose 29.5% from EUR 95.7 million to EUR 123.9 million. This encouraging progress is attributable not only to organic growth in the core European markets, especially in the high-margin Internet channel, but also to recent acquisitions. The CTS Group sold a total of 10.7 million tickets via the Internet – around 30% more than in the same period of 2009 (8.2 million) – and logged around 240 million visitors to the online portals operated by Eventim. The EBITDA figure for this segment is EUR 34.7 million (Q1-3/2010: EUR 30.7 million), with EBIT amounting to EUR 24.9 million (Q1-3/2010: EUR 25.9 million). EBITDA and EBIT for the nine-month period were significantly lowered in the Ticketing segment by the aforementioned special effects. Normalised figures show an EBITDA of EUR 39.2 million (up 27.7%) and a substantially improved EBIT of EUR 33.6 million (up 29.7%) before amortisation from purchase price allocation.
The Live Entertainment segment showed further improvement in the first nine months of 2010. Revenue climbed to EUR 253.8 million, an increase of 7.3% year-on-year (Q1-3/2009: EUR 236.4 million). EBITDA rose 5.3% to EUR 20.8 million (Q1-3/2009: EUR 19.8 million), while EBIT increased 6.8% to EUR 19.4 million (Q1-3/2009: EUR 18.1 million). Start-up costs for new ‘Tutankhamun’ productions reduced results by around EUR 1 million in the third quarter of 2010.
The Group continues to focus on continuous growth of Internet ticketing operations, on international expansion and on integrating its newly acquired companies. The Management Board expects the Group to achieve further improvement in performance in the 2010 business year.
