Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  CTS Eventim AG & Co. KGaA    EVD   DE0005470306

CTS EVENTIM AG & CO. KGAA

(EVD)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

CTS EVENTIM : safeguards success of subsidiary Barracuda in midst of Austrian banking scandal

07/31/2020 | 07:20am EST

DGAP-News: CTS Eventim AG & Co. KGaA / Key word(s): Miscellaneous
CTS EVENTIM safeguards success of subsidiary Barracuda in midst of Austrian banking scandal (news with additional features)

31.07.2020 / 13:17
The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

CTS EVENTIM safeguards success of subsidiary Barracuda in midst of Austrian banking scandal


Munich/Vienna, 31 July 2020. CTS EVENTIM, one of the leading international providers of ticketing services and live entertainment, is safeguarding the successful progress of its subsidiary Barracuda, Austria's biggest concert and festival promoter, against the backdrop of the scandal surrounding Commerzialbank Mattersburg, an Austrian bank. Thanks to a comprehensive financing plan, the activities of the Barracuda Group are well protected, particularly its two flagship festivals, Nova Rock and Frequency. The concert promoter holds around 34 million Euro of deposits with Commerzialbank Mattersburg, which was prohibited in mid-July by the Austrian Financial Market Authority from continuing its business operations.

Klaus-Peter Schulenberg, CEO of CTS EVENTIM, commented by saying, 'Even in times of Corona, we are pursuing a long-term corporate strategy and are fully aware of Barracuda's enormous potential. We are therefore pleased that Barracuda, one of most creative concert promoters in Europe, has been a member of our corporate family since early 2020, which also means a significant investment in Austria, a market that is so important to us. The team around Ewald Tatar, Barracuda's managing director, can rely on us totally, even in these turbulent times.' He added, 'We would like to emphasise at the same time that both CTS EVENTIM and the Barracuda Group will take any steps that are necessary to protect our rights in respect of the current situation at Commerzialbank Mattersburg.'

Ewald Tatar emphasised that 'We are immensely struck by the fast and uncomplicated way that CTS EVENTIM jumped to our side and are really very glad to have such a strong and flexible company as our parent. We are delighted for hundreds of thousands of music fans from Austria and abroad that we are able to carry on our successful work and that the future of Nova Rock, Frequency and hundreds of concerts a year is secure.'

CTS EVENTIM acquired a 71% stake in Barracuda Music at the start of this year. Since its establishment in 2004, the concert promoter has grown continuously and within a very short time has developed into a highly stable and healthy enterprise. The group brings together the activities of various independent concert promoters, including the organisers of the Electric Love, Frequency and Nova Rock festivals.The Rolling Stones, Ed Sheeran, Bon Jovi, Metallica, Phil Collins, Red Hot Chili Peppers, Elton John, Iron Maiden and Robbie Williams are just some of the artists whose appearances in Austria are organised by Barracuda Music. Since 2012, Barracuda has also been the exclusive promoter of concerts at the ancient castle of Burg Clam, which has since established itself as one of Austria's most renowned and popular venues.

About CTS EVENTIM
CTS EVENTIM is one of the leading international providers of ticketing services and live entertainment. In 2019, around 250 million tickets were marketed using the company's systems - be it through stationary box offices, online or from mobile terminals. Its online portals operate under brands such as eventim.de, oeticket.com, ticketcorner.ch, ticketone.it and entradas.com. The EVENTIM Group also includes many concert, tour and festival promoter companies for events like 'Rock am Ring', 'Rock im Park', 'Hurricane', 'Southside' and 'Lucca Summer'. In addition, some of Europe's most renowned venues are operated by CTS EVENTIM, for example the LANXESS Arena in Cologne, the K.B. Hallen in Copenhagen, the Waldbühne in Berlin and the EVENTIM Apollo in London. CTS Eventim AG & Co. KGaA (ISIN DE 0005470306) has been listed on the stock exchange since 2000 and is currently a member of the MDAX segment. In 2019, its 3,202-strong workforce generated more than 1.4 billion Euro in sales revenue in 21 countries.

For further information, please contact:
Head of Corporate Communications:
Frank Brandmaier
Tel.: +49 40 380788-7299
frank.brandmaier@eventim.de


Additional features:

File: Press release as PDF


31.07.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: CTS Eventim AG & Co. KGaA
Rablstr. 26
81669 München
Germany
Phone: 0421/ 3666-0
Fax: 0421/ 3666-290
E-mail: info@eventim.de
Internet: www.eventim.de
ISIN: DE0005470306
WKN: 547030
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1107607

 
End of News DGAP News Service

1107607  31.07.2020 

fncls.ssp?fn=show_t_gif&application_id=1107607&application_name=news&site_id=zonebourse

© EQS 2020
All news about CTS EVENTIM AG & CO. KGAA
05:42aCTS EVENTIM : Gets a Sell rating from DZ Bank
MD
04:13aCTS EVENTIM AG & CO. KGAA : Release according to Article 40, Section 1 of the Wp..
EQ
11/24CTS EVENTIM AG & CO. KGAA : Release according to Article 40, Section 1 of the Wp..
EQ
11/23CTS EVENTIM AG & CO. KGAA : Release according to Article 40, Section 1 of the Wp..
EQ
11/20CTS EVENTIM : Kepler Cheuvreux remains Neutral
MD
11/19CTS EVENTIM : Baader Bank remains a Sell rating
MD
11/19CTS EVENTIM : rigorously reinforces its future viability during the first nine m..
EQ
11/17CTS EVENTIM AG & CO. KGAA : Release according to Article 40, Section 1 of the Wp..
EQ
11/17CTS EVENTIM AG & CO. KGAA : Release according to Article 40, Section 1 of the Wp..
EQ
11/17CTS EVENTIM AG & CO. KGAA : Release according to Article 40, Section 1 of the Wp..
EQ
More news
Financials
Sales 2020 274 M 328 M 328 M
Net income 2020 -94,6 M -113 M -113 M
Net cash 2020 391 M 468 M 468 M
P/E ratio 2020 -51,1x
Yield 2020 -
Capitalization 4 833 M 5 779 M 5 782 M
EV / Sales 2020 16,2x
EV / Sales 2021 5,57x
Nbr of Employees 2 612
Free-Float 61,2%
Chart CTS EVENTIM AG & CO. KGAA
Duration : Period :
CTS Eventim AG & Co. KGaA Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CTS EVENTIM AG & CO. KGAA
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Average target price 40,67 €
Last Close Price 50,35 €
Spread / Highest target 13,2%
Spread / Average Target -19,2%
Spread / Lowest Target -40,4%
EPS Revisions
Managers
NameTitle
Klaus-Peter Schulenberg Chief Executive Officer
Bernd Kundrun Chairman-Supervisory Board
Christian Alexander Ruoff Chief Operating Officer
Andreas Grandinger Chief Financial Officer
Jobst W. Plog Vice Chairman-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
CTS EVENTIM AG & CO. KGAA-10.17%5 701
FOCUS MEDIA INFORMATION TECHNOLOGY CO., LTD.50.32%20 657
OMNICOM GROUP., INC.-20.80%13 795
AUTOHOME INC.27.28%12 127
WPP PLC-30.39%12 037
PUBLICIS GROUPE SA-4.44%11 271