It appears that CTS Eventim (EVD.FSE) is doing
very well in 2003. The turnover results until the end of Q3-2003
report 172.1 million Euro (Q3-2002/ 106.1 million Euro). The
Live Entertainment division contributed 153.1 million Euros
to the overall turnover while the Ticketing division made
23.8 million. In Q3-2002 the revenue for Live Entertainment
was indicated with 91.5 million Euros, with Ticketing at 15.7
million. All key figures moved up, as did the earnings of
EVD. The earnings before interests and taxes (EBIT) for the
ongoing year reached 14.1 million Euro in Q3 2003 (0.5 million
Euro in Q3-2002), while the EBITDA is 17.8 million Euro compared
with 3.3 million Euro the year before. The EBIT of the Live
Entertainment section moved up to 12.8 million Euros from
3.3 million in Q3-2002, while the EBITDA for Q3-2003 in this
division is 13.1 million Euros (3.6 million in Q3-2002).
|
Even
if the turnover results of the Ticketing division are smaller,
CTS Eventim have emphasized for years that the relevance of
this business is very important for the portfolio of the company.
In the past this arm suffered losses but it looks as though
a turning point has been reached. The achieved EBIT until Q3
2003 for this part of CTS is 1.3 million Euros (Q3-2002 minus
2.8 million Euro), the EBITDA is 4.7 million Euro (minus 0.5
million). The company result is 3.5 million Euros (minus 0.5
million) and an improved cash flow of 12 million Euros (1.9
million). The board mentioned that particularly Internet ticket
sales quadrupled within the last 9 months.
For 2004 CTS Eventim predict they will achieve a turnover
of 200 million Euros and expect the ticketing business to
be doing very well in Q4.
|
