Finance

CTS EVENTIM strikes positive balance for first half-year

Group revenue slightly up by 0.5%, at EUR 421.8 million / normalised EBITDA climbs 2.8% to EUR 81.4 million / Ticketing segment improves revenue by 10.9% and normalised EBITDA by 11.0% / Internet ticket volume up 21.7% at 18.1 million / Live Entertainment better than expected, with revenue down only 5.5% compared to 2015 record year.

Munich, 25 August 2016. CTS EVENTIM AG & Co. KGaA, listed in the MDAX segment (ISIN DE0005470306), has continued the growth already achieved in the first half of 2016. The revenue of the CTS Group rose slightly to EUR 421.8 million, which equates to 0.5% growth (HY1/2015: EUR 419.7 million). The normalised EBITDA figure increased by 2.8% to EUR 81.4 million (HY1/2015: EUR 79.2 million), with EBITDA advancing 2.5% to EUR 81.0 million (HY1/2015: EUR 79.1 million). 
 
The Ticketing segment achieved a significant 10.9% improvement in revenue (before intersegment consolidation) to reach EUR 161.3 million (HY1/2015: EUR 145.4 million), thus remaining a key growth driver for the CTS Group. The normalised EBITDA figure rose by 11.0% to reach EUR 57.6 million (HY1/2015: EUR 51.9 million), with EBITDA climbing 10.6% to EUR 57.2 million (HY1/2015: EUR 51.7 million). The increased volume of tickets sold online contributed significantly to these improved earnings figures. The total volume of admission tickets sold online was up 21.7%, at 18.1 million (HY1/2015: 14.9 million). Start-up and structuring expenses due to international expansion meant that earnings were temporarily impacted to the tune of approximately EUR 2 million. 


As expected, the record earnings achieved in the prior year in the Live Entertainment segment could not be reached in HY1/2016, given the absence of contributions from major tours. Sales in the first six months of the current financial year were down 5.5% at EUR 261.9 million (HY1/2015: EUR 277.2 million). EBITDA fell 12.8% to EUR 23.8 million (HY1/2015: EUR 27.3 million). The Live Entertainment segment thus performed better than expected over the first six months of this year.  


The CTS Group will continue to implement its strategy of international expansion. This involves organic growth fuelled by innovative products and services, as well as careful analysis of potentially attractive acquisitions. Expanding online ticketing operations remains another prioritised field of activity. All in all, Group earnings for 2016 as a whole are expected to show a further improvement, owing to the encouraging growth in the Ticketing segment, and despite the anticipated decrease in revenue and earnings in the Live Entertainment segment in comparison with the record achieved in 2015. 
 
 
 
The interim report for the first six months of 2016 will be available for download at www.eventim.de when this press release is published.

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

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