16.02.2017
CTS Eventim AG & Co. KGaA DE0005470306
DGAP-News: CTS Eventim AG & Co. KGaA: Strong Ticketing finish in 2016
DGAP-News: CTS Eventim AG & Co. KGaA / Key word(s): Preliminary Results
CTS Eventim AG & Co. KGaA: Strong Ticketing finish in 2016
16.02.2017 / 14:36
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
Preliminary figures for the 2016 financial year (1.1. - 31.12.2016)
CTS EVENTIM: Strong Ticketing finish in 2016
Ticketing segment well ahead of original estimate, with 14.1% revenue
growth to EUR 395.1 million and normalised EBITDA 17.1% disproportionately
higher at EUR 167.3 million / Internet ticketing sales increase by 23.1% /
Normalised EBITDA for the CTS Group up 7.4% at EUR 194.5 million
Munich, 16 February 2017. CTS EVENTIM AG & Co. KGaA, listed in the MDAX
segment (ISIN DE0005470306), saw its successful growth strategy produce
further steady growth in 2016. Strong growth in the Ticketing segment
resulted in a significant 7.4% increase in normalised Group EBITDA, despite
the anticipated fall in revenue and earnings in the Live Entertainment
segment compared to the record achieved in 2015. The management will
present its dividend proposal for the 2016 financial year when the Annual
Report is published on 23 March 2017.
On the back of the unchanged positive environment for live music and its
leading position, the Ticketing segment was able to achieve new records in
revenue and normalised EBITDA. The Ticketing segment achieved a 14.1%
increase in revenue to exceed the original estimate, generating EUR 395.1
million in revenue (prior year: EUR 346.2 million). The normalised EBITDA
figure rose disproportionately strong to EUR 167.3 million (prior year: EUR
142.9 million, up 17.1%); the normalised EBITDA margin came to 42.3% (prior
year: 41.3%), with EBITDA at EUR 166.4 million (prior year: EUR 142.4
million, up 16.9%). In the 2016 reporting year, Internet ticketing sales
showed organic growth of 15% to around 40.8 million tickets. Owing to
expansion in South America and Scandinavia, the total volume of tickets
sold online rose 23.1% to 43.7 million tickets.
Following a record year in 2015, performance figures in the Live
Entertainment segment were lower, as expected, mainly due to fewer major
tours. Revenue fell 11.3% to EUR 439.2 million (prior year: EUR 494.9
million). EBITDA came in at EUR 27.2 million (prior year: EUR 38.1 million,
down 28.7%).
Live Entertainment's expected drop in sales and EBITDA was compensated by a
strong performance of Ticketing in 2016. One of the reasons for that was
the ongoing strong growth momentum in online ticket volume which translated
into higher EBITDA on group level. The development of both segments meant
that total CTS Group revenue was almost unchanged at EUR 829.9 million
(prior year: EUR 834.2 million). However, normalised Group EBITDA climbed
7.4% to EUR 194.5 million (prior year: EUR 181.0 million). In 2016, the
normalised EBITDA margin for the Group amounted to 23.4% (prior year:
21.7%). With this positive performance the normalised EBITDA for the CTS
Group could be improved to more than the original estimate.
In the current fiscal year, the CTS Group will maintain its growth focus.
Continuous enhancements of the CTS platform driven by well diversified
content and maximum customer reach will remain the center of action for the
groups' management. With the development of innovative products and
services, supported by comprehensive data analysis, the CTS Group is able
to deliver a constantly growing portfolio to all of its customers.
Additionally, the CTS Management will continue to scrutinise inorganic
growth opportunities. The management expects the rigorous implementation of
this strategy to result in growth fiscal year 2017.
For further information contact:
Marco Haeckermann, Vice President Corporate Development & Strategy,
CTS EVENTIM AG & Co. KGaA, + 49 421 3666 270
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16.02.2017 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.
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Financial/Corporate News and Press Releases.
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Language: English
Company: CTS Eventim AG & Co. KGaA
Rablstr. 26
81669 München
Germany
Phone: 0421/ 3666-233
Fax: 0421/ 3666-290
E-mail: [email protected]
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
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