Features
CTS Eventim Reports Growth In Q1
CTS Eventim published its first-quarter earnings of 2024, growing both revenues and earnings.
According to the live entertainment giant’s earnings statement, 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 local partner, was appointed the official ticketing service provider for the Summer Olympics and Paralympics in Los Angeles in 2028.
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.
See Tickets, which operates in Europe and the U.S., and whose sale by Vivendi to CTS Eventim was agreed in April, is not yet included in the quarterly figures.
See: CTS Eventim To Purchase Vivendi’s See Tickets, Festival Business
CTS Eventim Group: Consolidated revenue for the first three months of 2024 came to €408.7 million ($443 million), an 11.6% increase compared with the prior-year period (Q1/2023: €366.2 million [$397.1 million]).
Adjusted group EBITDA increased by 36.3% to €92.2 million ($99.9 million). The adjusted EBITDA margin was 22.6%.
Ticketing: Ticketing revenues in the January-to-March-2024 period, climbed by 23.3%
year-on-year to €182.8 million ($198.2 million). Adjusted EBITDA rose by 24.9% to €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 YOY, by 4.8% to
€234.4 million ($254.1 million) in the first quarter of 2024. Adjusted EBITDA was €8.9 million.
Starting from the current reporting period, CTS Eventim will disclose adjusted EBITDA, instead. 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.
CTS Eventim CEO Klaus-Peter Schulenberg commented, “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.”