CTS Eventim To Pay Out Special Dividend

The strong growth of CTS Eventim’s ticketing segment in particular, which led to an increase in overall group earnings, allows the Germany company to please its shareholders with a payout of euro 94.1 million, or euro 0.98, per eligible share. 

– Eventim

The company will propose that the dividend be paid at the upcoming shareholders’ meeting on May 9. It includes a basic dividend of euro 0.50 per share (50 percent of Group consolidated net income) and a special dividend amounting to a further euro 0.48 per share.

The company says this amounts to a “record dividend.”

“This special dividend not only reflects the very successful financial year 2016, but also the sustainable positive development of the CTS Group,” the company wrote.

Revenues in the ticketing segment grew from euro 346.2m in 2015 to euro 395.1 million in 2016.

Normalized EBITDA grew from euro 142.9m to euro 167.3 million.

“Online ticketing was the growth driver for the CTS Group,” the statement reads. “15 percent organic growth in tickets sold in E-Commerce took the volume to around 40.8 million tickets. Owing to expansion in South America and Scandinavia, the total volume of tickets sold online rose 23.1 percent to 43.7 million tickets.”

While overall group revenue decreased by 0.5 percent from euro 834.2 million to euro 829.9 million, its normalized EBITA increased by 7.4 percent from euro 181.0 million to euro 194.5 million.

As expected after a record year in 2015 – mainly thanks to major tours – revenues in the company’s live entertainment segment dropped from euro 494.9 million to euro 439.2 million.

Normalized EBITA dropped from euro 38.1 million to euro 27.2 million. With major tours in the pipeline, CTS Eventim expects a growth in both ticketing and live entertainment for 2017.