cts eventim ag-adr (CEVMY) Key Developments
The CTS Group Announces Earnings Results for the Third Quarter and First Nine Months of 2014; Provides Earnings Guidance for the Full Year of 2014
Nov 26 14
The CTS Group announced earnings results for the first nine months of 2014. The CTS Group revenue increased by 5.7% to EUR 469.3 million against EUR 444.1 million a year ago. Normalized EBITDA improved by 5.2% to EUR 90.4 million against EUR 86.0 million a year ago and normalized EBIT before amortization from purchase price allocation rose to EUR 78.2 million against EUR 76.9 million, up 1.7% a year ago. EBITDA improved to EUR 89.4 million against EUR 83.7 million, up 6.8% a year ago and EBIT to EUR 68.9 million against EUR 66.8 million, up 3.2% a year ago.
For the quarter, the company announced its net profit grew to EUR 9.2 million from EUR 7.2 million. Earnings before interest and tax (EBIT) increased to EUR 17.8 million from EUR 16.9 million. Revenues, on the other hand, dropped to EUR 129.8 million from EUR 131.8 million.
The company announced that it expects further growth in both revenue and earnings in the full year.
CTS Eventim AG & Co. KGaA to Report Nine Months, 2014 Results on Nov 26, 2014
Nov 24 14
CTS Eventim AG & Co. KGaA announced that they will report nine months, 2014 results on Nov 26, 2014
CTS Eventim AG & Co KGaA Forms Joint Venture with Stage Entertainment
Nov 24 14
CTS Eventim AG & Co KGaA announced it had agreed to form a joint venture with Stage Entertainment to help Stage's unit Holiday on Ice produce, develop, promote and present touring arena ice shows.
CTS EVENTIM AG & Co. KGaA to be Ticketing Provider for Rio 2016 Olympic Games
Sep 2 14
CTS EVENTIM AG & Co. KGaA has been appointed the exclusive ticketing services provider of the XXXI Olympic Games and XV Paralympic Games in Rio de Janeiro. The appointment was made following an international tender, in which EVENTIM was the winning bidder. Contracts were signed now between the RIO 2016 Organizing Committee and CTS EVENTIM Brazil, a fully owned subsidiary of CTS EVENTIM AG & Co. KGaA. The XXXI Olympic Games will be held in Rio de Janeiro from August 5 to August 21, 2016 and the XV Paralympic Games from September 7 to September 18, 2016. More than 14,000 athletes will compete in 1,000 sports session across 37 venues, and a total of 9 million tickets are expected to be issued for the Games. In its partnership with RIO 2016, EVENTIM will continue to contribute to the Olympic and Paralympic movement by providing a robust, ticketing platform, building on those which have been delivered for Torino 2006 and Sochi 2014 and embracing technological and operational know-how. Through their cooperation, EVENTIM and RIO 2016 shall ensure the delivery of a fair and transparent system for the distribution of tickets for Brazilian and International customers.
CTS Eventim to Form Joint Venture with Stage Entertainment
Sep 1 14
CTS Eventim AG & Co KGaA announced that it had agreed to form a joint venture with Stage Entertainment to help Stage's unit Holiday on Ice produce, develop, promote and present touring arena ice shows. As part of the deal, which is pending clearance by the German antitrust authorities, CTS Eventim's promotion unit Medusa will buy a 50% interest in Holiday on Ice.