CTS EVENTIM accelerates revenue and earnings growth in second quarter
- Significant increase in revenues and earnings after six months in both Ticketing and Live Entertainment
- Normalised EBITDA margin improved in both segments
- Both segments record accelerated revenues and earnings growth in second quarter
- Online ticket volume grows by more than six percent in first half of year
- Acquisition of stake in French market leader France Billet
- Creation of the EVENTIM LIVE network of promoters
- En route to another successful full financial year with growth in revenues and earnings
Munich, 22 August 2019 - CTS EVENTIM, an internationally leading Ticketing and Live Entertainment provider, significantly grew its revenues and earnings in the first half of 2019. Compared to the previous year (EUR 606.6 million), Group revenues rose by 14.8 percent to EUR 696.6 million. Normalised EBITDA increased by 18.7 percent to EUR 111.8 million (PY: EUR 94.1 million), thus exceeding the EUR 100-million mark at mid-year for the first time. The normalised EBITDA margin rose to 16.0 percent after 15.5 percent in the previous year.
Both the Ticketing and Live Entertainment segments contributed to these developments. And both were able to accelerate their growth momentum in the second quarter.
Klaus-Peter Schulenberg, CEO of CTS EVENTIM, commented: "CTS EVENTIM is heading for another successful year. Our revenue and earnings growth has gained momentum in recent months and is driven by both segments. Among other things, we have improved our online ticket volume by more than six percent. In addition, CTS EVENTIM has made some important strategic moves for the future: in Ticketing through our planned stake in France Billet, in Live Entertainment with the founding of our promoter network EVENTIM LIVE."
In the Ticketing segment, CTS EVENTIM improved its first-half revenues by 9.2 percent to EUR 200.2 million (PY: EUR 183.4 million). Normalised EBITDA increased by 13.3 percent to EUR 74.4 million (PY: EUR 65.6 million). The main driver was a further increase in online ticket volume: CTS EVENTIM sold 23.7 million tickets via its own web portals in the first half of the year, an increase of 6.1 percent over the previous year (22.4 million). In the second quarter, online ticket volume rose by 8.3 percent.
CTS EVENTIM also achieved significant growth with its Live Entertainment activities. Revenues in this segment increased by 17.6 percent to EUR 504.5 million (PY: EUR 429.1 million), thus exceeding half a billion Euros for the first time after six months. Normalised EBITDA rose by 31.1 percent to EUR 37.4 million (PY: EUR 28.5 million).
A number of EVENTIM LIVE promoters recorded a strong tour business. Positive impetus also came from successful festivals such as 'Rock am Ring' and 'Rock im Park', the acquisitions in Italy, and the venues operated by CTS EVENTIM: while the LANXESS arena in Cologne hosted the World Handball Championships, among other things, the K.B. Hallen in Copenhagen, which re-opened in January, also delivered a positive business performance.
Given the positive business performance in the first six months of the year, CTS EVENTIM expects that the company will continue to grow its revenues and earnings for the full financial year 2019.
The Group Interim Report will be available on corporate.eventim.de as soon as this press release is published.
About CTS EVENTIM
CTS EVENTIM is one of the leading international providers of Ticketing and Live Entertainment. In 2018, approx. 250 million tickets were marketed using the company's systems - through stationary box offices, online or mobile. 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', 'Southside', and 'Lucca Summer'. In addition, 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 SDAX segment. In 2018, its 3,141-strong workforce generated more than 1.2 billion Euros in revenue in 21 countries.
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