Group revenue increases 41.0% year-on-year to EUR 258.0 million / EBIT advances strongly by 51.8% to EUR 34.0 million / Group earnings reach EUR 16.9 million (up 64.2%) / Profits driven by 3.1 million tickets sold via Internet / Earnings per share at EUR 0.71
Munich, 14.11.2006. CTS Eventim has further boosted its pace of growth, significantly increasing its revenue and earnings figures in the third quarter of 2006. In the period from 1 July to 30 September 2006, Europe’s leading ticket marketer for concert, theatre and sports events and provider of live entertainment again achieved a substantial increase in the volume of tickets sold via the Internet. As at 30 September 2006, and excluding tickets for the FIFA World Cup, a total of 3.1 million tickets were sold online, corresponding to a 52.5% year-on-year increase. The Management Board also expects the volume of Internet ticketing to grow by more than 50% for 2006 as a whole. This means that CTS Eventim is hitting with precision its long-term growth forecast for the high-margin Internet business.
As at 30 September 2006, Group revenue was 41.0% higher year-on-year at EUR 258.0 million, according to provisional figures now announced (Q1-3/2005: EUR 183.0 million). Group EBIT increased disproportionately to EUR 34.0 million (Q1-3/2005: EUR 22.4 million; up 51.8%) The EBIT margin advanced from 12.2% to 13.2%. An EBITDA figure of EUR 38.6 million was achieved, thus exceeding the prior-year figure of EUR 25.8 million by just under 50.0%. Group earnings amounted to EUR 16.9 million (Q1-3/2005: EUR 10.3 million, up 64.2%); earnings per share increased accordingly to EUR 0.71 (Q1-3/2005: EUR 0.43). Cash flow showed a 38.0% improvement from EUR 19.2 million a year previously to EUR 26.5 million.
In the Ticketing segment, following the successful 2006 FIFA World Cup, highly profitable Internet sales provided a substantial boost to revenue and earnings. With sales totalling EUR 73.3 million prior to inter-segmental consolidation (Q1-3/2005: EUR 43.6 million; up 67.9%), the EBIT figure improved by 70.6% to EUR 20.4 million (Q1-3/2005: EUR 12.0 million). EBITDA was up 64.1% from EUR 15.1 million to EUR 24.8 million. The gross margin in the Ticketing segment was 63.8%, the EBIT margin 27.9%. Around 91 million music and event fans (Q1-3/2005: 60 million) had visited the Group’s portals at www.eventim.de and www.getgo.de by 30 September 2006, buying a total of approx. 3.1 million tickets (excluding the Football World Cup) (Q1-3/2005: EUR 2.1 million).
In the Live Entertainment segment, the first nine months of 2006 were characterised by a high frequency of events and sold-out tours, festivals and other events. Sales rose to EUR 187.1 million (Q1-3/2004: EUR 141.8 million; up 32.0%). EBIT came in at EUR 13.5 million (Q1-3/2005: EUR 10.4 million; up 30.1%); the EBITDA figure was EUR 13.9 million (Q1-3/2005: EUR 10.7 million; up 29.7%)
The Management Board is optimistic as regards business development in the current fiscal year and expects a further increase in the key performance figures during the traditionally strong fourth quarter. Efforts are focused on growing the Internet ticketing business and expanding abroad. In Switzerland, the company signed a minor acquisition deal in the Live Entertainment segment at the beginning of November. After acquiring a 100% stake in the TicTec AG ticketing company in Basle, in July 2006, CTS Eventim has now taken 51% of the shares in Act Entertainment AG, Basle.
The complete 9-Month Report is available in both German and English as an online version at the www.eventim.de website, where it will also be available for download as from 21 November 2006.
For further information, contact: Volker Bischoff, CFO, CTS Eventim AG, +49 (0)421-3666-233