DGAP-Adhoc: CTS Eventim AG & Co. KGaA: CTS EVENTIM records strong business momentum in third quarter 2019 based on preliminary results.
DGAP-Ad-hoc: CTS Eventim AG & Co. KGaA / Key word(s): 9 Month figures/Preliminary Results AD HOC ANNOUNCEMENT Public disclosure of inside information according to article 17 directive (EU) No. 596/2014 (Market Abuse Directive) CTS EVENTIM records strong business momentum in third quarter 2019 based on preliminary results. Munich, 5 November 2019. Based on preliminary results for the first nine months in fiscal year 2019 both Ticketing and especially Live Entertainment report strong business performances in the third quarter 2019. Third quarter group revenue increased by 19.7 percent to EUR 378.0 million and normalised EBITDA by 42.3 percent to EUR 65.2 million. The Ticketing segment saw revenue growth of 14.5 percent to EUR 106.6 million and normalised EBITDA growth of 22.8 percent to EUR 44.8 million in the third quarter. Especially the Live Entertainment segment generated a strong business performance in the third quarter. Live Entertainment revenue grew by 21.7 percent to EUR 276.9 million and normalised EBITDA increased by 118.4 percent to EUR 20.4 million. Based on preliminary results for the first nine months of fiscal year 2019, group revenue increased by 16.5 percent to EUR 1,074.6 million. Normalised EBITDA for the group rose by 26.5 percent to EUR 177.0 million. The Ticketing segment generated revenue growth of 11.0 percent to EUR 306.9 million while normalised EBITDA grew disproportionately by 16.7 percent to EUR 119.2 million. Live Entertainment revenue rose by 19.0 percent to EUR 781.4 million and normalised EBITDA by 52.7 percent to EUR 57.8 million. The company expects unchanged growth in revenues and earnings for fiscal year 2019. The Group quarterly statement as at 30 September 2019 will be published on 21 November 2019 on corporate.eventim.de. About CTS EVENTIM
05-Nov-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | CTS Eventim AG & Co. KGaA |
Rablstr. 26 | |
81669 München | |
Germany | |
Phone: | 0421/ 3666-0 |
Fax: | 0421/ 3666-290 |
E-mail: | [email protected] |
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: | 904501 |
End of Announcement | DGAP News Service |
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904501 05-Nov-2019 CET/CEST
CTS Eventim AG & Co. KGaA Stock
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With a target price of 87 € there is a slightly positive potential of 2.29% for CTS Eventim AG & Co. KGaA compared to the current price of 85.05 €.