CTS Eventim : Annual financial report 2020 (PDF)

Annual Report 2020

KEY GROUP FIGURES

2020	2019 1	2018	2017
[EUR'000]	[EUR'000]	[EUR'000]	[EUR'000]
Revenue	256,840	1,443,125	1,241,689	1,033,980
EBITDA	-7,116	284,278	225,166	201,626
EBITDA margin	-2.8%	19.7%	18.1%	19.5%
EBIT	-62,933	230,194	187,691	165,730
EBIT margin	-24.5%	16.0%	15.1%	16.0%
Normalised EBITDA	-2,940	286,489	228,061	204,741
Normalised EBIT before amortisation from purchase
price allocation	-46,185	242,928	202,552	181,542
Normalised EBITDA margin	-1.1%	19.9%	18.4%	19.8%
Normalised EBIT margin before amortisation from
purchase price allocation	-18.0%	16.8%	16.3%	17.6%
Non-recurring items 2	4,175	2,211	2,896	3,115
Amortisation resulting from purchase price allocation	12,573	10,522	11,965	12,698
Earnings before tax (EBT)	-102,028	224,018	192,904	170,792
Net result attributable to shareholders of CTS KGaA	-82,259	132,900	118,504	112,808
[EUR]	[EUR]	[EUR]	[EUR]
Earnings per share 3, undiluted (= diluted)	-0.86	1.38	1.23	1.18
[Qty.]	[Qty.]	[Qty.]	[Qty.]
Number of employees 4	2,409	3,202	3,063	3,020
Of which temporary	(153)	(502)	(473)	(580)

• 1 The Group applied IFRS 16 as of 1 January 2019 for the first time using the modified retrospective method. When applying this method, the comparative information for fiscal year 2018 were not adjusted. Effect of IFRS 16: normalised EBITDA/EBITDA EUR +18,635 thousand, normalised EBIT before amortisation of purchase price allocation/EBIT EUR +870 thousand

• 2 Cf. page 37 for non-recurring items for the years 2020 and 2019

• 3 Number of shares: 96 million

• 4 Number of employees at end of year (active workforce)

CONTENT

1.	LETTER TO THE SHAREHOLDERS	2
2.	REPORT BY THE SUPERVISORY BOARD	6
3.	CTS EVENTIM SHARES	10
4.	COMBINED MANAGEMENT REPORT	14
1.	Preliminary statements	14
2.	Explanation of corporate and organisational structure of CTS KGaA	14
3.	Business and macroenvironment	15
3.1	Business operations and corporate structure	15
3.2	Corporate management	24
3.3	Research and development	25
3.4	Overview of the course of business	26
4.	CTS Group: Earnings performance, financial position and cash flow	35
4.1	Earnings performance	35
4.2	Financial position	45
4.3	Cash flow	54
5.	CTS KGaA: Earnings performance, financial position and cash flow	57
5.1	Earnings performance	57
5.2	Financial position	60
5.3	Cash flow	63
6.	Appropriation of earnings by CTS KGaA	65
7.	Dependency report for CTS KGaA	65
8.	Risk and opportunities report	66
8.1	Structure and operation of the risk management system	67
8.2	Major risk areas	68
8.3	Opportunity management	84
8.4	Assessment of the Group's opportunities and risk exposure	86
9.	Internal accounting control system	87
10.	Report on expected future development	88
10.1	Future macroeconomic environment	88
10.2	Expected earnings performance	88
10.3	Expected cash flow	90
10.4	General assessment of the Group's prospective development	91
11.	Disclosures required under takeover law	93
12.	Compensation report	97
13.	Corporate Governance declaration	101
Content