Munich, 17.08.2006. CTS Eventim AG maintains growth momentum. CTS Eventim AG, a leading ticket marketer for concert, theatre and sports events, and a provider of live entertainment, again achieved a substantial increase in revenues and earnings in the first half of 2006.
As at 30.06.2006, Group revenues improved 29% year-on-year to EUR 186.8 million, according to provisional figures now announced (HY1/2005: EUR 144.3 million). Group EBIT rose sharply by 45% to EUR 30.1 million, compared to EUR 20.7 million in HY1/2005. The EBIT margin advanced from 14.3% to 16.1%. EBITDA grew by around 46% to reach EUR 33.5 million (HY1/2005: EUR 22.9 million). Consolidated net income amounted to EUR 14.5 million (HY1/2005: EUR 9.2 million, up 57%); earnings per share increased accordingly to EUR 0.60 (HY1/2005: EUR 0.38). Cash flow grew 36% from EUR 16.5 million a year ago to EUR 22.5 million. CTS Eventim thus achieved substantial improvements in all its key financial figures during the first half of 2006.
In the Ticketing segment, the 2006 World Cup and highly profitable Internet sales provided a major boost in revenues. With revenues – before consolidation between the segments - of EUR 56.8 million (HY1/2005: EUR 33.3 million; up 71%), CTS Eventim increased its EBIT figure by 61% to EUR 16.9 million (HY1/2005: EUR 10.5 million). EBITDA was up 60% from EUR 12.6 million to EUR 20.1 million. The gross margin in the Ticketing segment was 66%, the EBIT margin 30%. Around 53 million music and event fans (HY1/2005: 40 million) visited the Group’s portals at www.eventim.de and www.getgo.de in the first half of 2006, buying approx. 2 million tickets in total (HY1/2005: 1.5 million). By May 2006, ticket sales and visitor figures for the Internet portals were showing a 50% growth compared to HY1/2005. Despite the strong focus on the 2006 World Cup in June and the referring postponement of presales for new concert tours, growth rates for the Internet sales channel were around 33% as at 30.06.2006
In the Live Entertainment segment, the first half of the year 2006 was characterised by a high frequency of events and sold-out tours, festivals and other events. Revenues – before consolidation between the segments – rose to EUR 131.9 million (HY1/2005: EUR 112.9; up 17%). EBIT came in at EUR 13.1 million (HY1/2005: EUR 10.2 million; up 29%); the EBITDA figure was EUR 13.3 million (HY1/2005: EUR 10.4 million; up 29%).
The Management Board is optimistic with regard to business development in the current fiscal year and expects further increases in the key performance figures. Efforts are focused on international expansion, intensifying the Internet ticketing operation and launching additional product innovations.
For further information, contact: Volker Bischoff, CFO of CTS Eventim AG, +49 (0)421 3666-233