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CTS Eventim plans to pay out €94.1m in dividends this year – more than double the previous 12 months' figure – following sustained growth in ticketing, especially online
By IQ on 24 Mar 2017
CTS Eventim is to more than double the dividends it pays to shareholders this year following a successful 2016.
At a meeting of its shareholders on 9 May, the company’s management will propose a dividend of €0.98 per eligible share, for a total of €94.1 million, compared to €0.46/€44.2m in 2015–16.
That 98¢ is composed of a 50¢ basic dividend plus a ‘special dividend’ of 48¢, which reflects a “very successful financial year 2016 [and] the sustainable positive development of the CTS group”, says the Munich-based ticketing and promotion giant.
Eventim grew revenue 14.1%, to €395.1m, and EBITDA (earnings before interest, tax, depreciation and amortisation) 17.1%, to €167.3m, in 2016.
“Online ticketing was the growth driver for the CTS group”
In its end-of-year report, Eventim hailed strong growth in ticketing as being a key contributor to the increase in turnover. “Online ticketing was the growth driver for the CTS group,” it reads. “Fifteen per cent organic growth in tickets sold online took the volume to around 40.8m. Owing to expansion in South America and Scandinavia, the total volume of tickets sold online rose 23.1% to 43.7m tickets.”
Looking ahead to 2017, the company says it will continue to “rigorously pursue its international growth strategy”, including targeting new acquisition opportunities: “Efforts will be focused on further and continuous development of the proprietary ecommerce platform by ensuring wide-ranging content, maximum coverage and an expanding portfolio of services.
“The market for international ticketing and live events will also be monitored on an ongoing basis for strategic opportunities for partnerships and acquisitions. Based on that strategy, the management expects further growth in the 2017 financial year.”
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