DGAP-News: CTS Eventim AG & Co. KGaA: CTS EVENTIM reports significant increase in revenue and earnings in first nine months
DGAP-News: CTS Eventim AG & Co. KGaA
/ Key word(s): Quarterly / Interim Statement
PRESS RELEASE
Munich, 21 November 2019. CTS EVENTIM, an internationally leading Ticketing and Klaus-Peter Schulenberg, CEO of CTS EVENTIM, commented: 'CTS EVENTIM is on course to achieve the targets for the 2019 financial year. Thanks not only to a very successful third quarter, we significantly improved our online ticketing volume in the first nine months. The fact that we continue to sell more and more tickets through digital channels has positive and long-term impacts on our margins. Our Live Entertainment segment also performed very strongly in the period under review. The establishment of our promoter network, EVENTIM LIVE, is opening up additional avenues for us in this field. Our aim is to offer international tour opportunities to artists from all over the world. By taking a stake in France's market leader, France Billet, we have also achieved a major and strategic step forward in the Ticketing segment. In this way, CTS EVENTIM is extending and reinforcing its market position in a commercially attractive and culturally diversified market.' In the Ticketing segment, revenue increased by 11.0 percent in the first nine months to EUR 306.9 million (PY: EUR 276.5 million). This was mainly attributable to a significant increase in online ticketing volume: no fewer than 36.8 million tickets were sold on the Revenue in the Live Entertainment segment was up 19.0 percent, at EUR 781.4 million (PY: EUR 656.6 million), thus exceeding expectations. The normalised EBITDA rose disproportionately by 52.7 percent to EUR 57.8 million (PY: EUR 37.9 million). The normalised EBITDA margin climbed to 7.4 percent (PY: 5.8 percent). Major tours put on by various EVENTIM LIVE promoters in Germany, and newly acquired promoters abroad, were among the factors spurring this growth. The venues operated by CTS EVENTIM - especially the LANXESS arena in Cologne, the Waldbühne in Berlin and the K.B. Hallen newly opened in Copenhagen in 2019 - also showed successful business growth. The Group quarterly statement as at 30 September 2019 will be available for download at corporate.eventim.com when this press release is published.
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21.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | CTS Eventim AG & Co. KGaA |
Rablstr. 26 | |
81669 München | |
Germany | |
Phone: | 0421/ 3666-0 |
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 |
EQS News ID: | 918479 |
End of News | DGAP News Service |
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918479 21.11.2019
CTS Eventim AG & Co. KGaA Stock
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