CTS EVENTIM achieves balanced EBITDA in HY1/2020, in the midst of the coronavirus crisis and thanks to cost-cutting and efficiency-boosting measures

Measures to minimise costs and boost efficiency save a double-digit million figure

Normalised EBITDA at minus EUR 2.7 million

Cash and cash equivalents increased to around EUR 820 million

CEO Klaus-Peter Schulenberg: ‘We are looking confidently to the future, despite the corona crisis.’

Excellent market position expected after end of restrictions

Interest in live entertainment remains strong

Munich, 20 August 2020. CTS EVENTIM, one of the leading international providers of ticketing services and live entertainment, achieved an almost balanced normalised EBITDA in the first half of 2020, in the midst of the coronavirus pandemic and thanks to rigorous measures to minimise costs and boost efficiency. Whereas Group revenue in the first six months fell year-on-year by 71.5 percent to EUR 198.5 million (HY1/2019: EUR 696.6 million), normalised EBITDA came in at EUR -2.7 million (HY1/2019: EUR 111.8 million). In spring 2020, bans and conditions imposed by government authorities largely put a stop to live entertainment in Germany and on all international markets.

Major events are currently not permitted in most countries until the end of September or the end of October 2020.

In the second quarter of 2020, Group revenue were 96.6 percent lower year-on-year, at EUR 13.9 million (Q2/2019: EUR 413.9 million). The normalised EBITDA figure came in at EUR -16.2 million (Q2/2019: EUR 54.7 million).

Measures to reduce costs and boost efficiency were implemented immediately and have saved the Group a double-digit million Euro figure. Investments were also reduced to a minimum. To provide greater scope for response, the Annual Shareholders’ Meeting held in June resolved not to distribute a dividend for 2019. An existing credit line was also drawn down. As at 30 June 2020, cash and cash equivalents totalled around EUR 820 million. In key European markets, in addition, the CTS Group is working on the implementation of promoter voucher schemes, backed by law, thus ensuring that liquidity remains safeguarded.

Klaus-Peter Schulenberg, CEO of CTS EVENTIM, commented on current trends by saying, ‘Even though we are currently experiencing the most difficult phase ever in our corporate history as a result of the corona pandemic, we are looking confidently to the future. Crises are above all an opportunity for a company to show its strengths. Thanks to prudent management in the past, to the solid cash flow situation we have as a result, to rigorous cost-cutting and efficiency-boosting measures, to our forwardlooking technologies and thanks, last but not least, to our highly motivated employees, we are also well placed to face such a difficult market environment as it is at present. We will emerge from the crisis stronger and more agile.’ He added, ‘It’s a hopeful sign that events with several hundred visitors are now taking place again. Our LANXESS arena in Cologne was a forerunner in that respect, and concerts with a total capacity of up to 5,000 people are planned as tests for this coming September in our Waldbühne arena in Berlin, with an appropriate hygiene concept. We know that enthusiasm for live events is unbroken, despite corona.’ 

According to a recent survey of CTS EVENTIM customers, 75 percent of the respondents want to go to live events again within four months of the corona restrictions being lifted. The voucher solution provided by law is welcomed by more than 80 percent of those taking part in the survey. More than 85 percent want to redeem the vouchers for an event other than the one originally planned. In the survey, more than 90 percent of the respondents said that they were missing live entertainment and concerts.

In the Ticketing segment, compared to the first half of 2019, revenue in the first six months of the year fell by 55.8 percent to EUR 88.4 million (HY1/2019: EUR 200.2 million). Normalised EBITDA fell year-on-year from EUR 74.4 million to EUR -1.3 million. In the second quarter of 2020, revenue fell 90.2 percent from EUR 95.8 million to EUR 9.4 million, while normalised EBITDA came in at EUR -18.2 million (Q2/2019: EUR 32.5 million).

In the Live Entertainment segment, revenue fell in the first half of the year by 77.2 percent to EUR 114.9 million (HY1/2019: EUR 504.5 million). Normalised EBITDA came in at EUR -1.4 million (HY1/2019: EUR 37.4 million). This includes EUR 42.4 million in income from insurance compensations. In the second quarter of 2020, revenue fell 98.0 percent from EUR 322.3 million to EUR 6.3 million. Normalised EBITDA was EUR 1.9 million (Q2/2019: EUR 22.2 million).


Other business developments

In early January 2020, CTS EVENTIM acquired 71 percent of the shares in Viennabased Barracuda Holding GmbH, the Austrian concert promoter, including its subsidiaries. CTS EVENTIM thus enlarged its Europe-wide portfolio of live events to include some of Austria’s most popular concerts and festivals.

Following the scandal in Austria surrounding the Commerzialbank Mattersburg im Burgenland AG, CTS EVENTIM implemented a comprehensive financing plan in July to protect the business operations of Barracuda, its subsidiary. Austria’s biggest tour and concert promoter holds EUR 34.3 million of deposits with the bank, which was prohibited in mid-July by the Austrian Financial Market Authority from continuing its business operations, with the result that the Barracuda Group is currently unable to access those deposits.

In January, CTS EVENTIM acquired 60 percent of the shares in Gadget Entertainment AG in Switzerland, as well as 60 percent of wepromote Entertainment Group Switzerland AG in that connection. The Group is thus undergoing a major expansion of its activities in Switzerland and is now reorganising its live events business in that country. In the same month, the Group also concluded a long-term agreement for collaboration in the Live Entertainment segment with O2, the core brand of Telefónica Deutschland.

In February, CTS EVENTIM also entered into an equal partnership with Michael Cohl, the US promoter, with the aim of jointly acquiring artists for international tours.


Outlook for 2020

Given the major uncertainties that continue to surround the future course of the coronavirus crisis and its impacts on the 2020 financial year, the management is still of the opinion that it is impossible to provide a forecast for the year as a whole. It was for that reason that it withdrew its forecast for 2020 as early as 3 April 2020.

The Group will quantify its anticipated development as soon as a forecast is possible. 

The interim Group report is available at



CTS EVENTIM is one of the leading international providers of ticketing services and live entertainment. In 2019, around 250 million tickets were marketed using the company’s systems – be it through stationary box offices, online or from mobile terminals. Its online portals operate under brands such as,,, and The EVENTIM Group also includes many concert, tour and festival promoter companies for events like ‘Rock am Ring’, ‘Rock im Park’, ‘Hurricane’, ‘Southside’ and ‘Lucca Summer’. In addition, some of Europe’s most renowned venues are operated by CTS EVENTIM, for example the LANXESS arena in Cologne, the K.B. Hallen in Copenhagen, the Waldbühne in Berlin and the EVENTIM Apollo in London. CTS Eventim AG & Co. KGaA (ISIN DE 0005470306) has been listed on the stock exchange since 2000 and is currently a member of the MDAX segment. In 2019, its 3,202-strong workforce generated more than 1.4 billion Euro in revenue in 21 countries. 

Marco Haeckermann
Vice President Corporate Development & Strategy
Frank Brandmaier
Head of Corporate Communications

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