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Munich, 27 August 2007. CTS EVENTIM AG, listed on the SDAX exchange (ISIN DE0005470306), has completed a successful first half-year in fiscal 2007.
The CTS Group generated EUR 213.6 million in revenues (HY1/2006: EUR 186.8 million, up 14.4%), an EBIT of EUR 27.0 million (HY1/2006: EUR 30.1 million, -10.1%) and an EBITDA of EUR 30.0 million (HY1/2006: EUR 33.4 million, -10.3%). As expected, results were lower year-on-year due to the special impacts of the Football World Cup in 2006. As at 30.06.2007, however, Group EBIT had already reached 90% of the figure in the preceding record year, resulting in an EPS of EUR 0.51 (HY1/2006: EUR 0.61). The cash flow for the reporting period was EUR 21.0 million (HY1/2006: EUR 22.4 million). The Management Board reiterates its forecast that results for 2007 as a whole will again be better than the year before.
Ticketing: revenues increase by 40.1% and EBIT by 78.0% (after adjustment for the 2006 World Cup)
The substantial increase in revenues and earnings achieved by the Ticketing segment – after adjusting for the effects of the special 2006 World Cup project in the first half of 2006 – was mainly attributable to highly profitable ticket sales via the Internet. With revenues at EUR 36.1 million (HY1/2006: 25.7 million; +40.1%) before consolidation of segments, the EBIT figure for the segment was increased substantially by 78.0% from EUR 4.8 million in HY1/2006 to EUR 8.6 million. The EBIT margin rose from 18.7% to 23.8%. EBITDA, at EUR 11.0 million, was up 44.2% from EUR 7.6 million in HY1/2006. In the first half of 2006, business operations in the Ticketing segment were principally characterised by the Football 2006 World Cup project. As expected, this share of revenues and earnings was absent in the first half of 2007. As at 30.06.2007, and after including the revenues and earnings specific to the 2006 World Cup project, the Ticketing segment had generated revenues of EUR 36.1 million (HY1/2006: EUR 56.8 million, -36.5%), an EBIT of EUR 8.6 million (HY1/2006: EUR 16.9 million, -49.3%) and an EBITDA of EUR 11.0 million (HY1/2006: EUR 20.1 million, -45.3%). Internet ticket sales rose to more than 2.8 million tickets (HY1/2006: 2.0 million), which means that the growth in Internet ticketing volume is more than 40% in the reporting period ending June 2007, compared to 33% in the same period of 2006. The online portals of the CTS Group, especially www.eventim.de and www.getgo.de, logged a total of 77 million visitors in the first half of the year, an increase of 45.9% (HY1/2006: 53 million). Performance figures for the Ticketing segment were adversely affected not only by the lost earnings in the consolidated month of June 2007 due to a cancelled festival organised by the newly-acquired Milan-based firm of TicketOne S.p.A., but also by initial integration expenses (e.g. for software migration costs, etc.) in respect of the newly-acquired companies Zritel o.o.o., Moscow, TicketOne S.p.A., Milan, and CTS Eventim Schweiz AG, Basle, amounting to approx. EUR 1.0 million.
Live Entertainment: revenues boosted by 36.7% and EBIT by 40.3% / Third place in world rankings, with 4.1 million spectators
In the Live Entertainment segment, the first six months of 2007 were characterised by superb business growth, a high frequency of events and a series of successful tours, festivals and events. The segment generated EUR 180.3 million in revenues (HY1/2006: EUR 131.9 million, +36.7%), an EBIT of EUR 18.4 million (HY1/2006: EUR 13.1 million, +40.3%) and an EBITDA of EUR 19.0 million (HY1/2006: EUR 13.3 million, +42.6%). Performance in the second quarter of 2007 was particularly good, with revenues of EUR 123.7 million (HY1/2006: EUR 70.2 million, +76.1%), an EBIT of EUR 13.1 million (HY1/2006: EUR 4.7 million, +178.8%) and an EBITDA of EUR 13.5 million (HY1/2006: EUR 4.8 million, +181.4%). According to latest rankings by Pollstar, the leading American poll magazine, ranks the Group in the Live Entertainment segment with the Marek Lieberberg Konzertagentur and the other CTS event subsidiaries third in the world with 4.1 million spectators in the first half of 2007. Live Nation
ranks first, with AEG Anschutz Entertainment Group in second place.
The Management Board is satisfied with the Group’s progress in the current business year. For the year as a whole, the company expects earnings to top the 2006 figure. The focus now is on further expansion of Internet ticketing, on successfully establishing the Fansale resale platform and on expanding internationally by making additional acquisitions. Following acquisitions in Switzerland and Russia, CTS AG also entered the Italian market by acquiring an interest in the country’s market leader, TicketOne, in May 2007.
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, during the day
