CTS Eventim AG & Co. KGaA: CTS EVENTIM reports substantial boost in revenue and earnings in Q1/2017
CTS EVENTIM reports substantial boost in revenue and earnings in Q1/2017
Group revenues grow by 27.1 percent to 207.4 million Euro Normalised Group EBITDA increases by 17.9 percent to 45.7 million Euro Online ticketing is key growth driver Successful business development underpinned by strategic advancements
Munich, 24 May 2017. CTS EVENTIM, one of the world's leading providers of ticketing services and live entertainment, has got off to a successful start to the current financial year. The company, which is listed in the MDAX segment (ISIN DE0005470306), increased its Group revenues significantly by 27.1 percent in the first quarter of 2017 to EUR 207.4 million (Q1/2016: EUR 163.2 million). The normalised Group EBITDA was up 17.9 percent at EUR 45.7 million (Q1/2016: EUR 38.8 million), while the normalised EBITDA margin came in at 22.0 percent. The Ticketing and Live Entertainment segments both contributed to this growth in revenue and earnings.
Klaus-Peter Schulenberg, CEO of CTS EVENTIM, commented: "CTS EVENTIM has got off to a superb start to the year 2017. We have achieved double-digit growth not only in revenues, but also in our operating earnings. Important strategic advancements have been made at the same time - for example in expanding our digital and international businesses."
In the first three months of the year, the Ticketing segment posted a significant 9.2 percent increase in revenue to reach EUR 92.6 million (Q1/2016: EUR 84.8 million), and thus remains the key growth driver for CTS EVENTIM. The normalised EBITDA rose strongly by 11.5 percent to EUR 36.5 million (Q1/2016: EUR 32.8 million), not least due to the sustained trend towards online ticketing. CTS EVENTIM sold a total of 10.8 million tickets via the Internet in the first three months of 2017, which equates to a 14.6 percent increase compared to Q1/2016 (9.4 million tickets).
The Live Entertainment segment reported dynamic growth ahead of expectations in the first quarter. Revenue climbed 46.2 percent to reach EUR 116.3 million (Q1/2016: EUR 79.6 million). In addition to positive growth in operations, this revenue growth was also attributable in large measure to the greater number of companies included in consolidation. The EBITDA figure rose 53.0 percent to EUR 9.2 million (Q1/2016: EUR 6.0 million).
Klaus-Peter Schulenberg added: "Given how business has progressed so far in 2017, we are confident that we will achieve our targets for the year. Compared to fiscal 2016, we expect higher revenues and operating earnings. We also intend to continue implementing our growth strategy successfully. This includes not only organic initiatives, such as boosting our eCommerce business, but also examining prospects for further acquisitions."
The quarterly report on business performance in the first three months of 2017 will be available for download at www.eventim.de when this press release is published.About CTS EVENTIM CTS EVENTIM is one of the leading international providers of ticketing services and live entertainment. More than 150 million tickets for over 200,000 events are marketed annually using the company's systems - be it through stationary box offices, online or from mobile devices. Its online portals operate under brands such as eventim.de, oeticket.com, ticketcorner.ch, ticketone.it and entradas.com. The EVENTIM Group also includes many concert, tour and festival promoter companies for events like "Rock am Ring", "Rock im Park", "Hurricane" and "Southside". Some of Europe's most renowned venues are operated by CTS EVENTIM, for example the LANXESS arena in Cologne, the Waldbühne in Berlin and the EVENTIM Apollo in London. CTS EVENTIM AG & Co. KGaA (ISIN DE 0005470306) has been listed on the stock exchange since 2000 and is currently a member of the MDAX segment. In 2016, its 2,384-strong workforce generated a total of 830 million Euro in revenues in 25 countries.
For further information contact:Corporate Communications: Christian Steinhof Head of Corporate Communications Tel.: +49 40 380788-7299 firstname.lastname@example.orgInvestor Relations: Marco Haeckermann Vice President Corporate Development & Strategy Tel.: +49 421 3666-270 email@example.com
24.05.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English
Company: CTS Eventim AG & Co. KGaA Rablstr. 26 81669 München
Germany Phone: 0421/ 3666-233 Fax: 0421/ 3666-290 E-mail: firstname.lastname@example.org Internet: www.eventim.de ISIN: DE0005470306 WKN: 547030 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service