BRUSSELS (CelebrityAccess MediaWire) — The European touring market continues to be very strong and a recent earnings report by continental ticketing firm CTS Eventim tells the tale.
Booming Internet sales, many successful tours by world-famous rock and pop stars, the 2006 Football World Cup plus corporate acquisitions in Switzerland and Russia were the highlights of the 2006 business year for CTS Eventim. The leading ticket marketer for concerts, theatre and sports events, and provider of live entertainment achieved yet another major improvement in revenues and earnings, attained its forecast 50% boost in Internet ticket volume and further reinforced its market position.
Best-ever earnings since IPO In fiscal 2006, the SDAX-listed group maintained the robust growth trajectory established in recent years. Group revenue as at 31.12.2006 was 33.9% higher, at EUR 343.0 million (2005: EUR 256.2 million). EBIT rose by 39.6% year-on-year to EUR 45.7 million (2005: EUR 32.7 million). The EBIT margin improved from 12.8% to 13.3%. CTS Eventim increased its EBITDA figure by 38.9% to EUR 52.0 million (2005: EUR 37.5 million). This equates to an EBITDA margin of 15.2%, compared to 14.6% the year before. Cash flow climbed from EUR 28 million in 2005 to EUR 36 million (+28.5%). CTS Eventim thus achieved its best-ever group result since the IPO in February 2000. The final figures for group earnings, earnings per share and a dividend proposal will be presented by the company at the end of March when the annual financial statements have been finalized.
60.8% EBIT improvement in Ticketing Sales in the Ticketing segment – before consolidation – improved by 54.5% to reach EUR 99.3 million (2005: EUR 64.3 million). The EBIT figure for the segment was increased by 60.8% to EUR 31.0 million (2005: EUR 19.3 million). EBITDA grew 55.5% to EUR 36.7 million (2005: EUR 23.6 million). In addition to the successful 2006 Football World Cup, Internet ticket sales continued to be the main driver of growth and earnings in the Ticketing segment: 136 million music and event fans (2005: 100 million) visited the Group's portals at www.eventim.de and www.getgo.de and purchased around 5.3 million tickets (2005: 3.5 million).
27.0% revenue growth in Live Entertainment Following two record years, the Live Entertainment segment also achieved very successful growth in the 2006 business year and improved its earning figures yet again. A high frequency of events resulted in a 27.0% boost in sales revenues to EUR 247.3 million (2005: EUR 194.6 million). The EBIT figure for this segment rose 9.1% to EUR 14.7 million (2005: EUR 13.5 million). Earnings from Live Entertainment were influenced by start-up costs of around EUR 3.5 million for establishment of new Tour products. EBITDA was up 10.7% at EUR 15.4 million (2005: EUR 13.9 million). – CelebrityAccess Staff Writers