CTS Eventim AG / Key word(s): Quarter Results
16.05.2011 09:01
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)
Figures for the first three months of 2011 (1.1. - 31.03.11)
CTS EVENTIM: Ticketing boom continues in 2011
Ticketing segment boosts revenue by 35.9% to EUR 54.8 million / Internet
ticketing volume rises around 24% to 4.8 million tickets / Around 106
million visitors to EVENTIM web portals / Revenue in Live Entertainment
segment lower as expected, at EUR 48.2 million, than in record year 2010 /
Group achieves EUR 101.0 million in total revenue and a normalised EBITDA
of EUR 23.6 million / Positive revenue and earning outlook for year as a
whole
Munich, 16.05.2011. CTS EVENTIM AG, listed in the SDAX index (ISIN
DE0005470306), proved its unique position in the European ticketing market
once again in the first quarter of fiscal 2011. Revenue was boosted 35.9%
to EUR 54.8 million in the Ticketing segment. The highly profitable
Internet business, especially, continues to grow at a double-digit rate:
around 106 million people visited the EVENTIM portals in Q1 (prior year: 87
million), ordering 4.8 million tickets in total - a year-on-year increase
of around 24%. The Live Entertainment segment, in contrast, was unable to
beat the record set the previous year, also due to the scheduled reduction
in revenue following the deconsolidation of the FKP Scorpio Group since 1
July 2010, and recorded a decline in revenue and EBIT. The ticketing
business for music, cultural and sports events proved to be exceedingly
robust and sustainable, even in the recent years of the economic and
financial crisis. For the current 2011 business year also, the Management
Board expects the Group to progress well and to achieve yet another
improvement in revenue and earnings.
In the period from 1 January to 31 March 2011, the CTS Group generated EUR
101.0 million in revenue (Q1/2010: EUR 127.8 million, down 21.0%), a
normalised EBITDA of EUR 23.6 million (Q1/2010: EUR 25.6 million, down
8.0%) and a normalised EBIT before amortisation from purchase price
allocation (Ticketcorner Holding AG and See Tickets Germany GmbH) of EUR
20.7 million (Q1/2010: EUR 23.4 million, down 11.7%). Due to the
acquisition of See Tickets Germany GmbH, and the pending arbitration
proceedings against Live Nation, the operating profit is temporarily
reduced by personnel restructuring and legal consultancy expenses. After
these non-recurring items, the EBITDA figure amounts to EUR 20.2 million
(Q1/2010: EUR 25.1 million, down 19.6%), while the EBIT amounts to EUR 14.5
million (Q1/2010: EUR 22.7 million, down 36.2%).
In the Ticketing segment, organic growth in the core European markets and a
number of successful acquisitions resulted in a substantial 35.9% increase
in revenue to EUR 54.8 million before consolidation between the segments,
compared to EUR 40.3 million in Q1/2010. CTS EVENTIM sold 4.8 million
tickets via the Internet alone in the period under review - a year-on-year
increase of around 24% (Q1/2010: 3.9 million). Around 106 million visits to
the EVENTIM web portals were logged (Q1/2010: 87 million). The impacts of
the aforementioned non-recurring items were confined to the Ticketing
segment. The normalised EBITDA was up 27.6% at EUR 18.6 million (Q1/2010:
EUR 14.6 million), while normalised EBIT before amortisation from purchase
price allocation was up 25.1% at EUR 16.3 million (Q1/2010: EUR 13.0
million). After these non-recurring items, EBITDA was 8.3% higher at EUR
15.3 million (Q1/2010: EUR 14.1 million), while EBIT decreased 18.1% to EUR
10.0 million (Q1/2010: EUR 12.3 million).
In the Live Entertainment segment, as expected, the first quarter of 2011
did not achieve the quarterly record set in 2010. The main reasons for the
unusual success of the segment last year were the large number of highly
successful tours and events. The deconsolidation of the FKP Scorpio Group,
in conjunction with the acquisition of See Tickets Germany GmbH, also had a
negative impact on revenue and earnings as expected. This explains why
revenue in the first quarter of 2011 totalled only EUR 48.2 million
(Q1/2010: EUR 89.1 million; down 45.9%). EBITDA was 55.3% lower at EUR 4.9
million (Q1/2010: EUR 11.0 million), while EBIT fell 57.6% to EUR 4.4
million (Q1/2010: EUR 10.4 million).
In 2011, the Group will remain focused on the continuous growth of Internet
ticketing operations, on international expansion and on integrating its
newly acquired companies.
For further information contact:
Marco Haeckermann, Director Investor Relations, CTS Eventim AG, + 49 421
3666 270
Volker Bischoff, CFO, CTS EVENTIM AG, +49 421 3666 250
16.05.2011 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 Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: CTS Eventim AG: Ticketing boom continues in 2011
| Source: EQS Group AG