DGAP-News: CTS Eventim AG & Co. KGaA
/ Key word(s): 9 Month figures
Munich, 18 November 2021. CTS EVENTIM, one of the leading international providers of ticketing services and live entertainment, continued along the road to recovery in the third quarter of 2021. Having plummeted as a result of the coronavirus crisis, ticket sales bounced back in the early part of 2021 and picked up again markedly at the start of the second half of the year. This was helped by the good level of presales for concerts featuring major international artists, such as Ed Sheeran. At the same time, the Company further strengthened its position in international markets and with digital products.
In the third quarter of 2021, consolidated revenue jumped by 279.2 per cent to €114.7 million (previous year: €30.2 million). Normalised EBITDA came to €26.0 million in the same period (previous year: loss of €15.0 million). In the first three quarters of 2021, revenue fell by 21.3 per cent year on year, from €228.7 million to €180.0 million, because the first quarter of 2020 had barely been affected by the pandemic. However, normalised EBITDA stood at €105.4 million (previous year: loss of €17.7 million) thanks to cost savings, an improved operating business and the government aid programmes introduced in Germany and other countries. The biggest component of this aid comprised coronavirus support of around €100 million granted by the German government.
In the period July to September 2021, revenue in the Ticketing segment surged by 225.5 per cent to €61.0 million, compared with €18.7 million in the prior-year period. Normalised EBITDA came to €27.1 million (previous year: loss of €11.3 million). In the period January to September 2021, revenue went up slightly to €110.6 million, a year-on-year rise of 3.2 per cent (previous year: €107.2 million). Normalised EBITDA advanced to €91.3 million, compared with a loss of €12.7 million in the prior-year period.
The Live Entertainment segment also saw a substantial year-on-year improvement in revenue, which rose by 351.2 per cent to €55.7 million in the third quarter of this year (previous year: €12.4 million). However, the coronavirus crisis meant that the number of events was still down sharply compared with pre-pandemic levels. Normalised EBITDA came to a loss of €1.1 million (previous year: loss of €3.7 million). In the first three quarters of 2021, revenue fell by 41.8 per cent to €74.1 million (previous year: €127.3 million). Normalised EBITDA stood at €14.1 million (previous year: loss of €5.1 million).
Klaus-Peter Schulenberg, CEO of CTS EVENTIM, commented: "We recorded an encouraging increase in revenue in the third quarter. In recent months, we have also forged ahead with our international expansion plans and ensured that CTS EVENTIM is even better prepared for the future by launching new digital products."
Presales of tickets for Ed Sheeran's European tour in 2022 began at the end of September. More than one million tickets were sold in next to no time, with around 400,000 having been sold so far for the concerts in Germany alone. Other recent top-selling events include the concerts of iconic UK bands Genesis and Coldplay as well as German rock star Udo Lindenberg.
For the first time, CTS EVENTIM opted to use only its proprietary digital ticket, EVENTIM.Pass, for the sale of tickets for Ed Sheeran's European tour in order to strengthen measures to prevent the unauthorised resale of tickets. Tickets can only be downloaded to the purchaser's smartphone using the EVENTIM.App. The app stores the tickets securely and displays a QR code for admission to the concert shortly before it is due to start. EVENTIM.Pass tickets can only be resold via EVENTIM's official resale platform fanSALE, which means they are fully traceable.
In October 2021, CTS EVENTIM acquired a majority stake in software and hardware developer simply-X. The Company has thus strengthened its position in the market for innovative access control solutions and enhanced its offering with integrated, high-performance digital systems. Drawing on over 20 years of experience, simply-X is one of the leading providers of event management products in Germany. Its portfolio encompasses control, payment, ordering and customer loyalty solutions, together with the accompanying hardware such as scanning pedestals and turnstiles.
The Group quarterly statement on business performance in the first three quarters of 2021 was made available online at corporate.eventim.de at the time of publication of this press release.
Head of Corporate Communications:
18.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||CTS Eventim AG & Co. KGaA|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1250049|
|End of News||DGAP News Service|