CTS Clicks Another Million
CTS has clicked 1 million Internet sales for the second quarter in succession as the group’s ticketing sector doubled its pre-tax profits to euro 8.4 million (US$10.76 million).
That EBIT figure doesn’t quite match the euro 8.5 million (US$10.9 million) generated by the company’s Medusa Group of live music promoters, but it came from a euro 27.1 million (US$34.7 million) turnover, while the concert business profit came from revenues of euro 61.7 million (US$79 million).
While the promoting companies headed by Marek Lieberberg, Folkert Koopmans, Peter Rieger, Dirk Becker, Dieter Semmelmann and Norbert Link returned a 13.7 percent profit on revenues, the ticketing sector’s profit was 31 percent of revenues.
Although a like-for-like comparison isn’t really fair, particularly as the ticketing sector relies on selling the box office for the Medusa promoters shows, it’s still evident that selling through the Internet is company chairman Klaus-Peter Schulenberg’s cash cow.
The 1.03 million sales, which came from around 27 million visits (up from 18 million) to the eventim.de and getgo.de sites, is a little down on the 1.3 million sales from Q4 2005 but 44 percent higher than the 0.71 million achieved in the first quarter of last year.
Overall group revenues were up 66 percent year-on-year to euro 88.1 million (US$114 million) with EBIT up 108 percent to euro 16.9 million (US$21.8 million).
– John Gammon