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Munich, 3 March 2008. CTS EVENTIM AG, listed on the SDAX exchange (ISIN DE0005470306), established a new performance record in fiscal 2007, beating the record established in 2006. The Group increased both revenue and earnings, maintaining the persistent success and growth trends already established over many years. Thanks especially to the strategic alliance inked in December 2007 with Live Nation Worldwide Inc., the worlds’s biggest live events company, the CTS Group has superb prospects for the future.
The Group generated EUR 384.4 million in revenue (prior year: EUR 342.9 million, up 12.1%), an EBIT of EUR 46.8 million (prior year: EUR 45.7 million, up 2.4%) and an EBITDA of EUR 53.9 million (prior year: EUR 52.0 million, up 3.6%). The operating profit was increased yet again, even though the financial figures for 2006 had received an enormous boost from the special Football World Cup project. The Managment Board considers the 2007 business year to have been a very satisfactory one. At the end of March 2008, after the annual financial statements have been finalised, the company will present the Group net income for the year, earnings per share and a dividend proposal.
Ticketing: revenue increases by 31.9% and EBIT by 41.7% (after adjustment for the World Cup)
The substantial increase in revenue and earnings achieved by the Ticketing segment – after adjusting for the effects of the special 2006 World Cup project – was mainly attributable to highly profitable ticket sales via the Internet, and to expansion in Europe. With revenue at EUR 87.5 million before consolidation of segments (prior year: EUR 66.3 million, up 31.9%), the EBIT figure of EUR 26.3 million was generated (prior year: EUR 18.6 million, up 41.7%). The EBIT margin rose further from 28.0% to 30.1%. EBITDA came in at EUR 32.0 million (prior year: EUR 23.8 million, up 34.5%). The Ticketing segment was positively impacted in 2006 by the Football World Cup; as expected, the 2007 totals fell short of the previous year’s. Compared to the unadjusted figures for 2006, the Ticketing segment generated EUR 87.5 million in revenue as at 31.12.07 (prior year: EUR 99.3 million; down 11.9%), an EBIT of EUR 26.3 million (prior year: EUR 31.1 million; down 15.5%) and an EBITDA of EUR 32.0 million (prior year: EUR 36.8 million; down 12.9%). Internet sales increased in volume to 7.1 million tickets sold (prior year: 5.3 million, up 34%). The websites of the CTS Group, especially the online portals at www.eventim.de and www.getgo.de, logged a total of 164 million visitors in the course of 2007 (prior year: 136 million). The EBIT for the year under review was curtailed by expenses incurred by foreign subsubiaries newly included in consolidation, for example by integration costs totalling approx. EUR 1.4 million EUR.
Live Entertainment: 21.9% revenue growth and 40.5% higher EBIT
Following three record years, 2007 was characterised in the Live Entertainment segment by superb business growth, with a large number of events as well successful tours, festivals and events. The segment generated EUR 301.3 million in revenue (prior year: EUR 247.2 million, up 21.9%), an EBIT of EUR 20.5 million (prior year: EUR 14.6 million, up 40.5%) and an EBITDA of EUR 21.8 million (prior year: EUR 15.2 million, up 43.4%). The record operating profit in this segment includes approximately EUR 1.5 million more advance costs, compared to the prior year’s closing date, for organising new tour products among others for a worldwide presentation of the Tutanchamun exhibition.
Outlook: priority for internationale expansion with Live Nation
The Management Board is very satisfied with the Group’s progress in the 2007 business year. Activities in 2008 will be focused primarily on implementing the strategic alliance with Live Nation to achieve further international expansion. The Management Board assumes that the 2008 business year will see further improvement in the key performance figures. The Annual Report will be available
on the Internet at www.eventim.de in both German and English, in an online version and in download form, as from 31 March 2008.
