Munich, 18 May 2007. CTS EVENTIM AG successfully acquired another strategic investment today when the board signed the papers for a participation in Milan-based TicketOne S.p.A. in Italy. Founded in 1998, TicketOne is Italy's leading provider of ticket distribution services with a volume of more than 13 million tickets in 2006 and also successfully handled ticket sales for the XX. Winter Olympics in Turin.
TicketOne holds participations in companies TOST (ticket distribution agency for theatres; TicketOne's stake: 60%) and Panischi (owner of distribution rights for numerous major event promoters in Italy; TicketOne's stake: 100%). In financial year 2006, the TicketOne Group generated revenues in the amount of EUR 16.4 million with EBITDA at more than EUR 2.2 million. For the future, TicketOne foresees dynamic revenue and earnings growth driven by the migration of the traditional ticket business to the higher margins offered by Internet distribution (as also seen on the German market).
Shares in TicketOne have so far been held at appx. 86% by Antonello Manuli Finanziaria (AMFIN), an Italian financial holding with numerous investments in real estate, media and financial products. Under the present agreements, CTS EVENTIM purchases an interest of appx. 43% in TicketOne, at the same time acquiring the possibility of full financial consolidation of TicketOne with CTS EVENTIM Group. The stake acquired is sold at a price of appx. EUR 14 million, the transaction shall be completed shortly. As part of the agreements executed today, a purchase option ensures that CTS EVENTIM AG will be able to acquire the remaining shares in TicketOne from AMFIN in the medium term.
For CTS EVENTIM AG, the investment in Italy represents the logical extension of the Group's European growth strategy: Over the past few months, major acquisitions were completed in Russia and Switzerland. With TicketOne, the CTS Eventim Group significantly expands its leading position on the European market. Turkey and Spain are among the next acquisition targets.