22.11.2016
CTS Eventim AG & Co. KGaA DE0005470306
DGAP-News: CTS Eventim AG & Co. KGaA: CTS Group: Successful course of business over nine months 2016
DGAP-News: CTS Eventim AG & Co. KGaA / Key word(s): Preliminary Results
CTS Eventim AG & Co. KGaA: CTS Group: Successful course of business over
nine months 2016
22.11.2016 / 11:02
The issuer is solely responsible for the content of this announcement.
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Press release
Preliminary Interim report 1.1. - 30.9.2016
CTS Group: Successful course of business over nine months 2016
Continued growth trend in Ticketing with double-digit volume and revenue
growth / Live Entertainment with a moderate business performance still
above expectations versus record year 2015 / Normalised group EBITDA
slightly above last years' level / Temporary earnings pressure from the
expansion in the number of consolidated companies and new business in South
America
Munich, 22 November 2016. CTS EVENTIM AG & Co. KGaA, listed in the MDAX
segment (ISIN DE0005470306), continued to deliver strong organic
performance in online ticketing. Live Entertaiment remains slightly above
expectations versus record year 2015.
The Ticketing segment delivered again an unchanged growth momentum. In the
first nine months of fiscal year 2016 online ticket volume increased
organically by 12.5% to almost 25 million tickets. Due to the expansion in
South America and Scandinavia total online ticket volume grew by 19.7% to
26.5 million. With double-digit revenue growth of 11.6% to EUR 240.3
million the Ticketing segment remains fully in line with expectations.
Normalised EBITDA improved by 8.9% to EUR 82.3 million. Despite a
disproportionate earnings contribution from organic growth in online
ticketing, EBITDA growth was subdued by temporary earnings pressure,
totalling at EUR 2.6 million, due to ongoing business integration and the
expansion into South America. Furthermore, previous years' earnings level
was supported by foreign exchange gains of EUR 1.8 million versus the
current year. On a pro-forma basis (adjusted for foreign exchange effects
and temporary dilution from international expansion) revenue growth would
have been at 10.0% and normalised EBITDA growth at 14.8% versus the first
nine months in fiscal year 2015.
Against record year 2015 the Live Entertainment segment continued to
perform slightly better than expected. For the first nine months of fiscal
year 2016, revenue declined by 7.1% to EUR 340.3 million (previous year:
EUR 366.4 million). The current performance in revenue is due to a lower
number of major tours in comparison to the previous year. Based on this
development and temporary earnings dilution from the expansion in the
number of consolidated companies EBITDA decreased by 19.6% to EUR 25.4
million. Earnings development in Live Entertainment thus remains above the
originally expected trend of a 30% decline in fiscal year 2016.
The business performance of the Ticketing segment and Live Entertainment
segment over the first nine months in 2016 resulted in almost stable CTS
Group revenue of EUR 576.2 million versus EUR 577.5 million in previous
years period. Despite temporary earnings pressure and a guided decline in
Live Entertainment EBITDA, normalised Group EBITDA slightly increased to
EUR 107.7 million (previous year: EUR 107.2 million) due to an undisputed
growth dynamic in online ticketing.
The CTS Management continues to expect a solid business development in
fiscal year 2016. On the back of continuous product and service expansions,
ongoing internationalisation and consequent execution of the E-commerce
strategy, CTS Group is perfectly positioned to take advantage of given
opportunities in order to realise mid- and long-term profitable growth.
The Interim report for the first nine months of fiscal year 2016 will be
published on 24 November 2016 and will be available in German and English
for download on www.eventim.de.
For further information:
Marco Haeckermann, Vice President Corporate Development & Strategy,
CTS EVENTIM AG & Co. KGaA, +49 421 3666 270
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22.11.2016 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.de
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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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523087 22.11.2016
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