Eventim Reports Stable Q3 Numbers

Overall Eventim revenues and earnings did not vary much year-on-year, because continued growth of the German company’s ticketing business offset losses generated by its live entertainment business.  

Photo: eventim.com

So far, Eventim sold 25 million tickets organically in 2016, which marks a 12.5 percent increase compared with this point in time last year. If one includes the new businesses in South America – through a joint venture with Sony Music – and Scandinavia – through an Egmont JV – the growth in the ticketing segment was 19.7 percent, or 26.5 million in numbers.

Normalized EBITDA improved by 8.9 percent to euro 82.3 million, a growth that was subdued by “temporary earnings pressure” of euro 2.6 million caused by “ongoing business integration and the expansion into South America.”

Exchange rates didn’t help either. Revenues in Eventim’s live entertainment segment declined from euro 366.4 million in the previous year to euro 340.3 million, or by 7.1 percent.

The reason for this is “a lower number of tours in comparison to the precious year.” The segment’s EBITDA decreased by 19.6 percent to euro 25.4 million. Since 2015 was a record year, however, Eventim can still sell this as “above the originally expected trend of a 30 percent decline in fiscal year 2016.”

Both businesses, ticketing and live entertainment, resulted in almost stable CTS Group revenues – euro 576.2 million vs. euro 577.5 million – and a slightly increased Group EBITDA – euro 107.7 million vs. euro 107.2 million.