CTS EVENTIM continues on its growth course in the first quarter of 2024
- Consolidated revenue (up by 11.6%) and adjusted EBITDA (up by 36.3%) reflect the fast pace of growth once again in 2024, underpinning the expansionary trend.
- CEO Klaus-Peter Schulenberg: “CTS EVENTIM achieved sustained dynamic growth in its operating business in Q1, and had remarkable success in winning a number of substantial tenders for major sporting events.”
Munich, 23 May 2024 – CTS EVENTIM, Europe’s leading provider of ticketing services and live entertainment, ranked number two in the world, put in a superb start to the year. Even in the first quarter, when less revenue tends to be generated across the industry as a whole, Eventim’s revenue and earnings grew considerably.
Besides the good operating profit, a number of steps were taken in the first quarter to ensure future business success. CTS EVENTIM concluded ticketing agreements for several international handball tournaments over the next few years and, together with the AXS Group as its local partner, was appointed the official ticketing service provider for the Summer Olympics and Paralympics in Los Angeles in 2028.
Group
Consolidated revenue for the first three months of 2024 came to EUR 408.7 million, an 11.6% increase compared with the prior-year period. Adjusted EBITDA rose three times as rapidly over the same period, increasing by 36.3% to EUR 92.2 million. The adjusted EBITDA margin was 22.6%.
Punto Ticket (Chile) and Teleticket (Peru) – the market leaders in their respective markets – were consolidated for a full quarter for the first time after having been acquired in the prior year.
The successful ticketing and live entertainment company See Tickets, which operates in Europe and the US and whose sale by Vivendi to CTS EVENTIM was agreed in April, is not yet included in the quarterly figures.
Ticketing
In the period January to March 2024, revenue in the Ticketing segment climbed by 23.3% year on year to EUR 182.8 million. Adjusted EBITDA rose by 24.9% to EUR 83.3 million in the first three months of 2024. The adjusted EBITDA margin was 45.5%.
Live Entertainment
The Live Entertainment segment’s revenue also rose year on year, increasing by 4.8% to EUR 234.4 million in the first quarter of 2024. At EUR 8.9 million, adjusted EBITDA was almost EUR 8 million higher than in the prior year. The adjusted EBITDA margin consequently rose to 3.8%.
Starting from the current reporting period, CTS Eventim will disclose adjusted EBITDA. This makes it possible to assess changes in operating profit even more accurately as all material non-recurring items have been eliminated from adjusted EBITDA. To ensure comparability, prior-period figures have been restated retrospectively in the quarterly report.
CEO Klaus-Peter Schulenberg: “CTS EVENTIM achieved sustained dynamic growth in its operating business in Q1, and had remarkable success in winning a number of substantial tenders for major sporting events. These will create positive momentum for the Company’s development over the medium and long term. The ticketing for the 2028 Olympic and Paralympic Summer Games in Los Angeles will give an extra boost to our already successful entry into the North American market.”
About CTS EVENTIM
CTS EVENTIM is the number one provider of ticketing services in Europe and number two in the world. Over 300 million tickets per year are marketed using the Company’s systems – through physical box offices and mobile/online portals. According to Pollstar’s global rankings for 2023, the EVENTIM Group is the second-biggest promoter in the world. In addition, CTS EVENTIM operates some of Europe’s most renowned venues. 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 2023, the Group generated revenue of EUR 2.4 billion across more than 25 countries.
Press Contact
Christian Colmorgen
Vice President Corporate Communications
christian.colmorgen@eventim.de
Investor Relations
Marco Haeckermann
Vice President Corporate Development & Strategy
marco.haeckermann@eventim.de
