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Tuesday 24 August, 2021

CTS Eventim AG & Co. KGaA

CTS EVENTIM joins the road to recovery in the second quarter of 2021

DGAP-News: CTS Eventim AG & Co. KGaA / Key word(s): Half Year Report
CTS EVENTIM joins the road to recovery in the second quarter of 2021

24.08.2021 / 07:30
The issuer is solely responsible for the content of this announcement.


Press Release

CTS EVENTIM joins the road to recovery in the second quarter of 2021

  • Sharp rise in revenue in second quarter compared with prior-year quarter
  • Significant pick-up in ticket sales since the spring
  • Projects for the future in Asia and Milan
  • New technology for checking health certificates at events
  • CEO Schulenberg: "CTS EVENTIM is optimally positioned for the return of live entertainment"

Munich, August 24, 2021. CTS EVENTIM, one of the leading international providers of ticketing services and live entertainment, joined the road to recovery in the second quarter of 2021. In the period April to June, revenue was up sharply compared with the prior-year period, primarily thanks to a pick-up in ticket sales following the slump caused by the coronavirus crisis. Moreover, the Group has used the pandemic as a time for strengthening its business, especially at international level. "CTS EVENTIM is optimally positioned for the return of live entertainment," emphasised CEO Klaus-Peter Schulenberg when the results for the first six months of 2021 were presented.

Although consolidated revenue fell by 67.1 percent year on year to €65.3 million in the period January to June 2021 (previous year: €198.5 million), normalised EBITDA amounted to €79.4 million (previous year: loss of €2.7 million). In the second quarter of 2021, however, revenue was up by 228.1 percent to €45.7 million (previous year: €13.9 million). Normalised EBITDA for the second quarter was €99.1 million (previous year: loss of €16.2 million), with the German November and December Assistance under the economic aid programme in connection with coronavirus boosting earnings by around €102 million.

In the Ticketing segment, revenue fell by 43.9 percent to €49.6 million in the first six months of this year (previous year: €88.4 million). Normalised EBITDA improved from a loss of €1.3 million in the prior-year period to €64.2 million in the six months under review. In the second quarter of 2021, revenue went up by 283.7 percent from €9.4 million to €36.1 million, while normalised EBITDA amounted to €77.6 million (previous year: loss of €18.2 million). This included around €73 million in German coronavirus support.

In the Live Entertainment segment, revenue fell by 84.0 percent to €18.3 million in the first half of the year (previous year: €114.9 million). Normalised EBITDA was €15.2 million (previous year: loss of €1.4 million). In the second quarter of 2021, this segment's revenue also improved, jumping by 81.5 percent year on year to €11.5 million (previous year: €6.3 million). Normalised EBITDA amounted to €21.4 million (previous year: €1.9 million). German coronavirus support contributed around €29 million to earnings.

"Ticket sales are recovering, which confirms our view that people are yearning for live entertainment after a year and a half of the pandemic," said Klaus-Peter Schulenberg. "However, politicians must set out a framework so that it is economically viable for events to be held again. The government support is very helpful but the industry wants to finally be able to earn its money by returning to work."

He added: "CTS EVENTIM has taken the coronavirus crisis as an opportunity to further strengthen and broaden its market position by undertaking a number of major strategic initiatives. Going forward, we will be better positioned than ever before, especially internationally, to be able to impress our customers with our services, industry expertise and technology in the live entertainment business."

During the coronavirus crisis, CTS EVENTIM forged ahead with its global expansion plans. Following the establishment of a company with US promoter Michael Cohl in 2020, the EVENTIM LIVE promoter network is now making its debut in Asia with EVENTIM LIVE ASIA. Headquartered in Singapore, the new company will focus on the rapidly growing live entertainment markets in China, Japan, South Korea, Singapore, Hong Kong, Taiwan, Indonesia, Thailand, Vietnam, Malaysia and the Philippines.

The DreamHaus agency headed by Matt Schwarz joined the EVENTIM LIVE network at the beginning of 2021, which means that the network now comprises 36 promoters in 15 countries in addition to EVENTIM LIVE ASIA. DreamHaus has now teamed up with eventimpresents to organise the legendary Rock am Ring and Rock im Park festivals.

CTS EVENTIM is also planning and building the MSG Arena in Milan, thereby expanding its portfolio of leading international venues. Scheduled for completion in autumn 2025, Italy's largest and most cutting-edge multipurpose arena will accommodate up to 16,000 people and will also boast an outdoor area of more than 10,000m² for open-air events.

At the same time, CTS EVENTIM is supporting the restart of live cultural events with software for checking digital health certificates. When admitting attendees to venues, promoters can verify not only the tickets but also the attendees' certificates showing that they have been vaccinated against coronavirus, recovered from coronavirus or received a negative test result. The solution offers maximum data protection because no health information is stored or linked to attendees' tickets.

Outlook for 2021
Due to the continuing uncertainties surrounding the future course of the coronavirus pandemic and its impact on the 2021 financial year, corporate management still considers it is impossible to make a precise forecast.

The Group interim report is available at corporate.eventim.de.

About CTS EVENTIM
CTS EVENTIM is one of the leading international providers of ticketing services and live entertainment. Before the outbreak of the coronavirus pandemic, around 250 million tickets per annum were marketed using the Company's systems - be it through physical box offices, online, or from mobile terminals. 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, CTS EVENTIM operates some of Europe's most renowned venues, for example the LANXESS Arena in Cologne, the K.B. Hallen in Copenhagen, 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 MDAX segment. Against a backdrop of forced closures, cancellations, and restrictions on events as a result of the coronavirus pandemic, the Group generated revenue totalling €256.8 million in 21 countries in 2020 compared with more than €1.4 billion in the year before.

Head of Corporate Communications:
Frank Brandmaier
Tel.: +49 40 380788 7299
[email protected]

Investor Relations:
Marco Haeckermann
Vice President Corporate Development & Strategy
Tel.: +49 421 3666 270
[email protected]



24.08.2021 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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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: 1228397

 
End of News DGAP News Service

1228397 24.08.2021 

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