CTS EVENTIM AG / Quarter Results
15.05.2008
Release 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.
---------------------------------------------------------------------------
Ad-hoc announcement
CTS EVENTIM maintains strong growth in Q1/2008
Internet ticketing volume increases by around 30% / 50 million visitors
logged by online portals / Group revenue grows 10% to EUR 81.0 million /
International expansion boosted by acquisitions and by partnership with
Live Nation
Munich, 15.05.2008. The CTS Group maintained its strong growth rate in the
first quarter of 2008. The main driver of growth was again the Ticketing
segment, which achieved a significant year-on-year increase in revenue and
earnings. The Live Entertainment segment was unable to match the unusually
strong earnings figure reached a year before, despite sales being slightly
up. The Management Board expects the Group to progress well during the 2008
business year as a whole and anticipates a further improvement in earnings
in relation to the previous year, in which the Group achieved an EBIT of
EUR 46.8 million.
In the first quarter of 2008, the CTS Group generated EUR 81.0 million in
revenue (Q1/2007: EUR 73.5 million), resulting in an EBIT figure of EUR 9.1
million (Q1/2007: EUR 10.5 million) and an EBITDA of EUR 10.9 million
(Q1/2007: EUR 11.7 million). Group earnings came in at EUR 4.9 million
(Q1/2007: EUR 4.8 million), equivalent to earnings per share of EUR 0.20
(Q1/2007: EUR 0.20). The cash flow for the reporting period was EUR 8.9
million (Q1/2007: EUR 8.6 million).
The higher revenue and earnings achieved by the Ticketing segment was
mainly attributable to high-margin ticket sales via the Internet. Between
1 January and 31 March 2008, the CTS Group sold around 2 million tickets
via the Internet, an increase year-on-year of around 30% (Q1/2007: 1.5
million.). More than 50 million visitors were logged by the online portals
operated by the Group (Q1/2007: 40 million). With revenue at EUR 24.0
million before consolidation of segments (Q1/2007: EUR 17.9 million, up
34.2%), an EBIT of EUR 5.9 million was generated. This figure is 16.4%
higher than the EUR 5.1 million achieved in Q1/2007. EBITDA, at EUR 7.3
million, was up 19.7% on the Q1/2007 figure of EUR 6.1 million. Earnings
were reduced by initial expenditures to implement the new partnership deal
with Live Nation.
The Live Entertainment segment achieved EUR 57.7 million in Q1 revenue
(Q1/2007: EUR 56.7 million, up 1.9%). The EBIT figure came in at EUR 3.2
million (Q1/2007: EUR 5.4 million, down 40.3%), while the EBITDA amounted
to EUR 3.6 million (Q1/2007: EUR 5.6 million, down 35.8%). Start-up costs
for new types of event - such as the Tutankhamun exhibition in Zurich -
resulted in lower first-quarter earnings.
The Management Board is optimistic about the Group's progress in the
current business year. Efforts will be focused on intensifying Internet
ticketing operations, expanding to other countries by making further
acquisitions and on implementing the long-term cooperation agreement
concluded with Live Nation in December 2007.
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 29 May 2008.
For further information contact:
Volker Bischoff, CFO, CTS Eventim AG, +49 (0)421-3666-233
15.05.2008 Financial News transmitted by DGAP
---------------------------------------------------------------------------
Language: English
Issuer: CTS EVENTIM AG
Contrescarpe 75 A
28195 Bremen
Deutschland
Phone: +49 (0)421-36 66-233
Fax: +49 (0)421-36 66-290
E-mail: investor@eventim.de
Internet: www.eventim.de
ISIN: DE0005470306
WKN: 547030
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
---------------------------------------------------------------------------