CTS Eventim exceeded the milestone of 1 billion euros in revenue
In the first half of this year, the CTS Eventim Group recorded a 39% increase in revenue compared to the same period last year. This proves that the demand for various live events has increased significantly.
The company's half-yearly revenues for ticket distribution and event management and entertainment industry agencies thus amounted to 1.03 billion euros, which is 287 million euros more than in the same period in 2022, when this amount was 734 million euros.
EBITDA (earnings before interest, taxes and depreciation) was 168 million euros for the first half, compared to 121 million euros in 2022, and gross profit was 226 million euros, compared to 142 million euros in the first half of last year.
Revenues for the ticket sales segment increased by 83 million euros - from 202 million to 285 million euros. The group sold 6.4 million more tickets in the first half of this year than in the same period in 2022, when this figure was 28 million. By June 30, 2023, they have already reached 34 million tickets sold.
In the segment of representation of the entertainment industry and the organization of events, revenues increased from 541 million to 751 million euros, which is 210 million euros more. A greater number of events in 2023 contributed to the increase in revenue, while the first quarter of last year was marked by the new coronavirus pandemic.
Normalized EBITDA for the ticketing segment was 122 million euros, compared to 83 million in 2022. Normalized EBITDA for Eventim's entertainment and event representation segment was 48 million euros, which is more than 40 million euros more than in the same period last year.
In the second quarter, Eventim recorded revenue of 655 million euros, compared to 595 million in the second quarter last year, and gross profit in the second quarter of 2023 was 123 million euros, compared to 109 million in 2022.
"The exceptional breadth and depth of our portfolio and the successful internationalization of our business are key drivers of our strong and stable growth," said Group CEO Klaus-Peter Schulenberg .
"After the market anomalies caused by the pandemic, at CTS Eventim we are returning to 'business as usual'. And 'as usual' for us means healthy organic growth and the development and expansion of new and existing business segments. In the first half of this year CTS Eventim has demonstrated great adaptability and entrepreneurial ingenuity in all areas, enabling us to successfully overcome the current macroeconomic challenges and maintain our focus on healthy growth. All relevant key indicators confirm that both the wider market and our group continue to perform at higher levels than before pandemic."
In July, however, the CTS Eventim Group exercised its option to purchase an additional 17% equity stake in France Billet, increasing its stake in the company from 48% to 65%.
About CTS EVENTS
CTS EVENTIM is a leading international provider of ticketing and live entertainment services. The company issues around 250 million tickets per year, with the help of the online platform and physical points of sale. The platforms operate under brands such as eventim.de, oeticket.com, ticketcorner.ch, ticketone.it and entradas.com. The CTS EVENTIM group also has many companies under its umbrella that organize concerts, tours and festivals, such as Rock am Ring, Rock im Park, Hurricane, Southside and Lucca Summer. According to Pollstar's global ranking for 2022, the EVENTIM Group is the third largest organizer in the world. In addition, CTS EVENTIM operates some of Europe's most famous venues, such as LANXESS Arena in Cologne, KB Hallen in Copenhagen, Waldbühne in Berlin and EVENTIM Apollo in London. CTS Eventim AG & Co. KGaA (ISIN DE 0005470306) has been listed on the stock exchange since 2000 and is a member of the MDAX segment. In 2022, the group generated EUR 1.9 billion in revenue in more than 20 countries.
