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
Press Release
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 The Group interim report is available at corporate.eventim.de. About CTS EVENTIM Head of Corporate Communications: Investor Relations:
24.08.2021 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: | info@eventim.de |
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 |