Group Quarterly Statement
as at 31 March 2021
CONTENT
BUSINESS PERFORMANCE | 1 |
OVERVIEW OF KEY GROUP FIGURES | 2 |
EARNINGS PERFORMANCE | 4 |
FINANCIAL POSITION | 6 |
CASH FLOW | 8 |
EVENTS AFTER THE BALANCE SHEET DATE | 9 |
RISK AND OPPORTUNITIES REPORT | 9 |
REPORT ON EXPECTED FUTURE DEVELOPMENT | 10 |
Consolidated balance sheet | 11 |
Consolidated income statement | 13 |
Consolidated statement of comprehensive income | 14 |
Consolidated statement of changes in equity | 15 |
Consolidated cash flow statement (short-form) | 16 |
Forward-looking statements, Contact, Publishers' notes | 17 |
II
CTS EVENTIM REAFFIRMS HOPES
OF LIVE CULTURE RELAUNCH IN 2021
Q1/2021 again dominated by coronavirus restrictions
Focus still on strict cost management and efficiency
Financial foundations remain robust: EUR 667 million in cash and cash equivalents
CEO Schulenberg sees 'significant increase in demand for live events'
Faster vaccination rates and ever-wider reopening worldwide: The CTS Group, one of the leading international providers of ticketing services and live entertainment, reaffirms hopes that live culture will restart in 2021, given that lockdown restrictions to combat the coronavirus pandemic are gradually being lifted. 'We're already seeing a significant increase in demand for live events. People's longing for shared cultural life is reflected immediately in ticket sales', said the CEO of CTS EVENTIM, Klaus-Peter Schulenberg.
A special highlight is the recent joint venture with US promoter Michael Cohl, entered into only last year. More than 300,000 tickets have already been sold for the North American tour of the legendary band Genesis, due to start in Chi- cago on 15 November. Sales are also recovering in Germany, both for medium-sized events and for top artists.
'Up and down the country, the stage is set for the gradual opening of bars and restaurants, tourism and also the cultural sector. All this nurtures hopes that the days of no live culture, theatre or concerts are coming to an end', Klaus-Peter Schulenberg is keen to emphasise. A survey conducted by CTS EVENTIM showed that over 60% of respondents would go to a live event straight away as soon as the authorities allow it.
'Our focus is still on strict cost management and efficiency', Klaus-Peter Schulenberg insisted. Despite the pressures imposed by more than a year of the Corona restrictions, the Group's financial foundations remain very robust, as mani fested by EUR 666.8 million in cash and cash equivalents at the end of the first quarter of 2021.
The start to the year was overshadowed by the impacts of the coronavirus restrictions, with first-quarterCTS Group revenue retreating 89.4% year-on-year to EUR 19.6 million (previous year: EUR 184.6 million). Normalised EBITDA came in at EUR -19.6 million (previous year: EUR 13.5 million).
First-quarter revenue in the Ticketing segment was 83.0% lower year-on-year, at EUR 13.5 million (previous year: EUR 79.0 million). Normalised EBITDA fell year-on-year from EUR 16.9 million to EUR -13.4 million.
In the Live Entertainment segment, revenue in the first quarter of 2021 was down 93.7% year-on-year, at EUR 6.8 million (previous year: EUR 108.6 million). The normalised EBITDA figure came in at EUR -6.2 million (previous year: EUR -3.3 million).
1 Group Quarterly Statement
OVERVIEW OF KEY GROUP FIGURES
CTS GROUP | 01.01.2021 | 01.01.2020 | |
- 31.03.2021 | - 31.03.2020 1 | ||
[EUR'000] | |||
[EUR'000] | |||
Revenue | 19,625 | 184,551 | |
EBITDA | -20,944 | 13,087 | |
EBITDA margin | -106.7% | 7.1% | |
Normalised EBITDA | -19,622 | 13,541 | |
Normalised EBITDA margin | -100.0% | 7.3% | |
Depreciation and amortisation | -13,117 | -13,860 | |
EBIT | -34,061 | -773 | |
EBIT margin | -173.6% | -0.4% | |
Normalised EBIT before amortisation from | |||
purchase price allocation | -30,059 | 2,680 | |
Normalised EBIT margin | -153.2% | 1.5% | |
Financial result | -3,894 | -810 | |
Earnings before tax (EBT) | -37,955 | -1,582 | |
Net result for the period attributable to shareholders | -25,157 | 557 | |
[EUR] | [EUR] | ||
Earnings per share 2, undiluted (= diluted) | -0.26 | 0.01 | |
[Qty.] | [Qty.] | ||
Internet ticket volume (in million) | 1.3 | 9.7 | |
Employees 3 | 2,311 | 3,206 | |
- Adjusted prior-year figures due to the final purchase price allocation of Barracuda and Gadget Group
- Number of shares: 96 million
- Number of employees at end of year (active workforce)
Change
[EUR'000] | [in %] |
-164,925-89.4
-34,031-260.0
-113.8 pp
-33,163-244.9
-107.3 pp
742-5.4
-33,288 4,306.9 -173.1pp
-32,739 | -1,221.8 |
-154.6 pp | |
-3,084 | -381.0 |
-36,373 | 2,298.5 |
-25,714 | -4,618.2 |
[EUR] | |
-0.27 | -4,618.2 |
[Qty.] | |
-8.4 | -87.0 |
-895 | -27.9 |
2 Group Quarterly Statement
TICKETING | 01.01.2021 | 01.01.2020 | Change | |||
- 31.03.2021 | - 31.03.2020 | |||||
[EUR'000] | ||||||
[EUR'000] | [EUR'000] | [in %] | ||||
Revenue | 13,456 | 79,002 | -65,546 | -83.0 | ||
EBITDA | -13,515 | 16,750 | -30,266 | -180.7 | ||
EBITDA margin | -100.4% | 21.2% | -121.6 pp | |||
Normalised EBITDA | -13,402 | 16,861 | -30,263 | -179.5 | ||
Normalised EBITDA margin | -99.6% | 21.3% | -120.9 pp | |||
EBIT | -21,095 | 8,407 | -29,502 | -350.9 | ||
EBIT margin | -156.8% | 10.6% | -167.4 pp | |||
Normalised EBIT before amortisation | ||||||
from purchase price allocation | -19,870 | 10,036 | -29,907 | -298.0 | ||
Normalised EBIT margin | -147.7% | 12.7% | -160.4 pp | |||
LIVE ENTERTAINMENT | 01.01.2021 | 01.01.2020 | Change | |||
- 31.03.2021 | - 31.03.2020 1 | |||||
[EUR'000] | ||||||
[EUR'000] | [EUR'000] | [in %] | ||||
Revenue | 6,817 | 108,571 | -101,755 | -93.7 | ||
EBITDA | -7,429 | -3,664 | -3,765 | 102.8 | ||
EBITDA margin | -109.0% | -3.4% | -105.6 pp | |||
Normalised EBITDA | -6,219 | -3,319 | -2,900 | 87.4 | ||
Normalised EBITDA margin | -91.2% | -3.1% | -88.2 pp | |||
EBIT | -12,966 | -9,180 | -3,787 | 41.3 | ||
EBIT margin | -190.2% | -8.5% | -181.8 pp | |||
Normalised EBIT before amortisation | ||||||
from purchase price allocation | -10,189 | -7,357 | -2,832 | 38.5 | ||
Normalised EBIT margin | -149.5% | -6.8% | -142.7 pp | |||
1 Adjusted prior-year figures due to the final purchase price allocation of Barracuda and Gadget Group
3 Group Quarterly Statement
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CTS Eventim AG & Co. KGaA published this content on 20 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 May 2021 05:29:02 UTC.