CTS Eventim AG / Key word(s): Preliminary Results/Quarter Results
17.11.2010 09:31
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc Announcement pursuant to Section 15 WpHG (Securities Trading Act)
Preliminary figures for the first nine months of 2010 (1.1. - 30.09.2010)
CTS EVENTIM maintains continuous growth
Group revenue grows 13% to EUR 372.4 million / Normalised EBITDA increases
by around 19% to EUR 60.0 million / Internet sales volume expands by 30% to
10.7 million tickets / successful acquisitions in 2010
Munich, 17.11.2010. CTS EVENTIM AG, listed on the SDAX exchange (ISIN
DE0005470306), maintained its continuous growth in the first nine months of
2010. The reporting period was characterised by corporate acquisitions of
Ticketcorner Holding AG and See Tickets Germany GmbH.
According to preliminary figures for the period from 1 January to 30
September 2010, the CTS Group generated revenue of EUR 372.4 million
(Q1-3/2009: EUR 329.5 million), which equates to a growth rate of 13%.
EBITDA was 10.1% higher at EUR 55.6 million (Q1-3/2009: EUR 50.5 million),
while EBIT increased 0.4% to EUR 44.2 million (Q1-3/2009: EUR 44.1
million). Earnings figures for the first nine months were constrained by
costs for acquisitions and legal consultancy relating to the Live Nation
arbitration proceedings. After adjustment for these special effects, the
normalised figures show a Group EBITDA of EUR 60.0 million (up 18.9%) and
an EBIT of EUR 53.0 million (up 20.2%) before amortisation resulting from
purchase price allocation (Ticketcorner Holding AG und See Tickets Germany
GmbH).
The Ticketing segment achieved further revenue growth in the first nine
months of 2010. Revenue before consolidation between the segments rose
29.5% from EUR 95.7 million to EUR 123.9 million. This encouraging progress
is attributable not only to organic growth in the core European markets,
especially in the high-margin Internet channel, but also to recent
acquisitions. The CTS Group sold a total of 10.7 million tickets via the
Internet - around 30% more than in the same period of 2009 (8.2 million) -
and logged around 240 million visitors to the online portals operated by
Eventim. The EBITDA figure for this segment is EUR 34.7 million (Q1-3/2010:
EUR 30.7 million), with EBIT amounting to EUR 24.9 million (Q1-3/2010: EUR
25.9 million). EBITDA and EBIT for the nine-month period were significantly
lowered in the Ticketing segment by the aforementioned special effects.
Normalised figures show an EBITDA of EUR 39.2 million (up 27.7%) and a
substantially improved EBIT of EUR 33.6 million (up 29.7%) before
amortisation from purchase price allocation.
The Live Entertainment segment showed further improvement in the first nine
months of 2010. Revenue climbed to EUR 253.8 million, an increase of 7.3%
year-on-year (Q1-3/2009: EUR 236.4 million). EBITDA rose 5.3% to EUR 20.8
million (Q1-3/2009: EUR 19.8 million), while EBIT increased 6.8% to EUR
19.4 million (Q1-3/2009: EUR 18.1 million). Start-up costs for new
'Tutankhamun' productions reduced results by around EUR 1 million in the
third quarter of 2010.
The Group continues to focus on continuous growth of Internet ticketing
operations, on international expansion and on integrating its newly
acquired companies. The Management Board expects the Group to achieve
further improvement in performance in the 2010 business year.
The full interim 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 25 November 2010.
For further information contact:
Volker Bischoff, CFO, CTS Eventim AG, +49 (0)421-3666-233
17.11.2010 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: CTS Eventim AG
Dingolfinger Str. 6
81673 München
Deutschland
Phone: 0421/ 3666-233
Fax: 0421/ 3666-290
E-mail: claudia.aderhold@eventim.de
Internet: www.eventim.de
ISIN: DE0005470306
WKN: 547030
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Düsseldorf, Berlin, Hannover, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: CTS EVENTIM maintains continuous growth
| Source: EQS Group AG