CTS Eventim Reports Third Quarter Growth Across All Segments

Ticketing, and in particular Live Entertainment, drove CTS Eventim’s third-quarter growth.

Based on preliminary results for the first nine months in fiscal year 2019, third quarter group revenue increased by 19.7% to €378 million ($421.6 million) and normalized EBITDA by 42.3% to €65.2 million ($72.7 million). 

The Ticketing segment saw revenue growth of 14.5% to €106.6 million ($118.8 million) and normalised EBITDA growth of 22.8% to €44.8 million ($50 million) in the third quarter, according to a CTS Eventim earnings statement.

Live Entertainment revenue grew by 21.7% to €276.9 million ($308.8 million) and normalised EBITDA increased by 118.4% to €20.4 million ($22.8 million).

There’s no doubt that some of the company’s latest moves, including the minority stake acquisition of France Billet and the acquisition of Russian promoter TCI, as well as the general performance of CTS Eventim shares have investors optimistic.

Based on preliminary results for the first nine months of fiscal year 2019, group revenue across all three quarters increased by 16.5% to €1,074.6 million ($1.2 billion). Normalised EBITDA for the group rose by 26.5% to €177.0 million ($197 million). The Ticketing segment generated revenue growth of 11% to €306.9 million ($342 million) while normalised EBITDA grew disproportionately by 16.7% to €119.2 million ($133 million). Live Entertainment revenue rose by 19% to €781.4 million ($871.5 million) and normalised EBITDA by 52.7% to €57.8 million ($64.5 million).

CTS Eventim expects unchanged growth in revenues and earnings for fiscal year 2019. The group quarterly statement for the first three months ending Sept. 30, 2019, will be published Nov. 21 on corporate.eventim.de.