Ad-Hoc-Announcement

CTS EVENTIM achieves further boost in earnings

EBITDA grows 26.0% to EUR 52.0 million / EBIT up 34.9% at EUR 40.7 million / Slight 2.6% drop in revenue to EUR 256.9 million / Overall performance adversely affected by fewer events in Ticketing segment during the European Football Championships and the Olympic Games / Live Entertainment segment benefits from successful festival season / Encouraging revenue and earnings outlook for the year as a whole

Munich, 21.08.2012. CTS EVENTIM AG, listed on the SDAX exchange (ISIN DE0005470306), achieved yet another improvement in Group results in the first half-year of the 2012 financial year. As in previous quarters, the CTS Group significantly increased its EBIT and EBITDA in both the Ticketing and the Live Entertainment segments, thus achieving a further boost in profitability. At the same time, the Group succeeded in further consolidating its leading position in the European ticketing market and live events industry. The Management Board therefore expects growth in both revenue and earnings for the year as a whole.  
 
In the period between 1 January and 30 June 2012, the CTS Group generated total revenue of EUR 256.9 million (ΗY1/2011: EUR 263.8 million, down 2.6%), an EBITDA of EUR 52.0 million (ΗY1/2011: EUR 41.2 million, up 26.0%) and an EBIT of EUR 40.7 million (ΗY1/2011: EUR 30.1 million, up 34.9%). As at 30 June 2012, normalised EBITDA was up 7.9% at EUR 50.8 million (ΗY1/2011: EUR 47.1 million), while normalised EBIT before amortisation from purchase price allocation (Ticketcorner Group and See Tickets Germany / Ticket Online Group) was up 8.3% at EUR 44.6 million (ΗY1/2011: EUR 41.2 million).  

The Ticketing segment generated EUR 96.6 million in revenue (before consolidation between segments), down 7.2% from EUR 104.1 million in HY1/2011. 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. EBITDA, at EUR 34.8 million, was up 20.0% on ΗY1/2011 (EUR 29.0 million), with a margin of 36.0% (HY1/2011: 27.8%). EBIT increased to EUR 24.5 million (HY1/2011: EUR 18.9 million, up 29.8%). Normalised EBITDA was 3.5% lower at EUR 33.6 million (HY1/2011: EUR 34.8 million). Normalised EBIT, before amortisation from purchase price allocation, was down 5.0% yearon-year at EUR 28.4 million (ΗY1/2011: EUR 29.9 million). Integration of acquisitions is running to schedule, with the resultant scale effects already showing in the earnings figures. The highly profitable online ticketing business also contributed to this improvement in earnings by selling 8.7 million tickets (HY1/2011: 8.5 million). After adjusting for Internet ticket sales for the FIFA Women’s World Cup in HY1/2011, a year-on-year improvement of around 7% was achieved.   

The Live Entertainment segment showed a very positive performance in the first half of 2012. ‘Rock am Ring’ and ‘Rock im Park’, two renowned festivals, were the biggest attractions. Although revenue was almost unchanged, at EUR 162.5 million (HY1/2011: EUR 162.9 million, down 0.3%), earnings were significantly better. The EBITDA figure, at EUR 17.6 million, was 43.4% higher year-on-year (HY1/2011: EUR 12.3 million), while EBIT improved 46.8% to EUR 16.6 million (HY1/2011: EUR 11.3 million). 

  In 2012, the Group will remain focused on the continuous growth of Internet ticketing operations, on international expansion and on integrating its newly acquired companies. On 9 August 2012, CTS EVENTIM concluded contracts to take over the operating company for the Lanxess Arena in Cologne.  

Marco
Marco Haeckermann
Vice President Corporate Development & Strategy
Thomas
Thomas Kollner
Corporate Communications

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