CTS Eventim Outperforms Q3/2019
Just like in the second quarter of this business year, CTS Eventim has outsold the corresponding quarter of 2019 in Q3, in both the live entertainment and ticketing segments.
See: CTS Eventim Exceeds 2019 In Q2 Earnings
Overall group revenue increased to €694 million ($696 million) in the third quarter of 2022, compared with €115 million ($115.3 million) in the third quarter of 2021 and €378 million ($379 million) in the third quarter of 2019.
The group’s normalized EBITDA amounted to €130 million ($130.4 million) in the third quarter of 2022, following €26 million ($26.1 million) in the same period of 2021 and €65 million ($65.2 million) in the third quarter of 2019.
In the ticketing segment, revenue came to €137 million ($137.4 million) in the third quarter of 2022 (previous year: €61 million), which was 29% higher than in the third quarter of 2019 (€107 million).
Normalized EBITDA stood at €65 million ($65.2 million) in the third quarter of 2022 (previous year: €27 million), a rise of 44% on the third quarter of 2019 (€45 million).
CTS Eventim CEO Klaus-Peter Schulenberg On His Business Philosophy, Building A Billion-Dollar Company & The Spencer Davis Group
In the live entertainment segment, revenue climbed €563 million (€565 million) in the third quarter of 2022 (previous year: €56 million), a significant jump compared with the figure from three years ago (€277 million).
Normalized EBITDA amounted to €66 million ($66.2 million) in the third quarter of 2022 (previous year: € -1 million) and was therefore around three times higher than in the third quarter of 2019 (€20 million).
Based on business performance in the first nine months of 2022 and expected performance in the remaining October to December period, CTS Eventim’s management board has firmed up its forecast for 2022 as a whole: the Company now anticipates consolidated revenue of at least €1.7 billion ($1.705 billion) and normalized EBITDA of at least €330 million ($331 million).
According to CTS Eventim’s earnings statement, “This forecast is based on the assumption that neither the COVID-19 pandemic nor the impact of the war between Russia and Ukraine has any significant adverse effect on business performance in the remaining months of 2022.”