DGAP-News: CTS Eventim AG & Co. KGaA / Key word(s): Quarterly / Interim Statement
Munich, 24 May 2022. CTS EVENTIM, one of the leading international providers of ticketing services and live entertainment, made a strong start to 2022. Coronavirus-related restrictions on events were lifted in the core markets, which meant that revenue in the Ticketing and Live Entertainment segments was up substantially in the first quarter of 2022 compared with the prior-year period. “Concert and festival venues are finally coming back to life. The strong start to 2022 makes us all optimistic that live entertainment will make a robust comeback this year,” said the CEO of CTS EVENTIM, Klaus-Peter Schulenberg, when the results for the first quarter were presented.
These results show that consolidated revenue improved to €139.2 million in the first quarter of 2022 (previous year: €19.6 million). Normalised EBITDA came to €23.7 million (previous year: €-19.6 million).
In the Ticketing segment, revenue rose to €76.5 million in the first three months of 2022 (previous year: €13.5 million). Normalised EBITDA was back comfortably in positive territory at €27.2 million (previous year: €-13.4 million).
Revenue in the Live Entertainment segment improved year on year to reach €65.1 million in the first quarter of 2022 (previous year: €6.8 million). Normalised EBITDA amounted to €-3.5 million (previous year: €-6.2 million).
“We are delighted that ticket sales in April and so far in May too have been well above the level seen in the same period of 2019, which had been a record year. This underpins the hope that the live entertainment sector will really bounce back after an enforced two-year break due to coronavirus,” explained Klaus-Peter Schulenberg. “The live entertainment business ramped up again in our European markets and overseas much sooner than in Germany, where coronavirus restrictions were lifted relatively late.”
There was positive news in the first quarter of 2022, when an arbitration tribunal decided that autoTicket GmbH – a joint venture between CTS Eventim AG Co. KGaA and Kapsch TrafficCom AG – is entitled to claim for compensation and reimbursement of expenses from the Federal Republic of Germany. The tribunal confirmed the merits of the claims for compensation for the gross enterprise value and for reimbursement of the costs incurred in connection with fulfilment of the operator agreement. The first phase of the two-stage arbitration proceedings is therefore complete. The claim amount will be ruled upon in the next phase. After the operator agreement concerning the collection of the car toll in Germany was terminated, autoTicket GmbH brought claims for compensation of around €560 million against the Federal Republic of Germany.
CTS EVENTIM has teamed up with France Billet to provide ticketing software and related services for the 2024 Olympic and Paralympic Games in Paris. The agreement was signed in April 2022. The Group expects the contribution to revenue to be in the double-digit millions.
About CTS EVENTIM
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24.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
CTS Eventim AG & Co. KGaA
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
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