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EQS-News: CTS EVENTIM makes a strong start to 2023, generating substantial growth in revenue and normalised EBITDA


EQS-News: CTS Eventim AG Co. KGaA / Key word(s): Quarter Results
CTS EVENTIM makes a strong start to 2023, generating substantial growth in revenue and normalised EBITDA

18.05.2023 / 10:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


Press release

CTS EVENTIM makes a strong start to 2023, generating substantial growth in revenue and normalised EBITDA

  • Consolidated revenue amounts to EUR 366.2 million in the first quarter of 2023, up by 163% on the first quarter of 2022
  • Normalised EBITDA increases by 221% year on year in the first quarter of 2023
  • The number of tickets sold online soars by 58% compared with the prior-year period

Munich, 18 May 2023. CTS EVENTIM, a leading international provider of ticketing services and live entertainment, made a strong start to 2023, generating substantial growth in revenue and earnings. In the first three months of 2023, consolidated revenue came to EUR 366.2 million, compared with EUR 139.2 million in the first quarter of 2022 and EUR 282.7 million in the first quarter of 2019 (the last year prior to the pandemic).

The Group’s normalised EBITDA amounted to EUR 76.0 million in the first quarter of 2023, following EUR 23.7 million in the same period of the previous year and EUR 57.1 million in the first quarter of 2019. Both the Ticketing and the Live Entertainment segments contributed to this growth. The normalised EBITDA margin was 21% (previous year: 17%).

“In the first quarter of 2023, CTS EVENTIM has maintained its successful trajectory following the record year of 2022,” commented Klaus-Peter Schulenberg, CEO of CTS EVENTIM. “The results show that live entertainment remains as popular as ever. Our customers have high expectations when it comes to buying tickets – especially for tours featuring top acts – and we have comfortably met these expectations. Both in Germany and internationally, we are pursuing organic growth and anticipate that our business performance will continue on its successful course.”

The Ticketing segment generated revenue of EUR 148.3 million in the first three months of 2023 (previous year: EUR 76.5 million), which was 42% higher than in the first quarter of 2019 (EUR 104.5 million). Normalised EBITDA stood at EUR 67.8 million in the first quarter of 2023 (previous year: EUR 27.2 million), a rise of 62% on the first quarter of 2019 (EUR 41.9 million). The core market of Germany performed well, with the Italian, Austrian, Swiss and Brazilian markets also driving growth.

The Live Entertainment segment’s revenue climbed to EUR 223.8 million in the first quarter of 2023 (previous year: EUR 65.1 million), a rise of 23% compared with the figure from four years ago (EUR 182.2 million). Normalised EBITDA for the first three months of 2023 came to EUR 8.2 million (previous year: loss of EUR 3.5 million) and was thus lower than in the first quarter of 2019 (EUR 15.2 million). Higher preparatory costs and implementation costs for festivals weighed heavily on normalised EBITDA in the first quarter of 2023.

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The number of tickets sold online in the year to date stands at 18 million, which equates to a significant increase of 58% compared with the prior-year period (eleven million).

In March 2023, a new joint venture with Mammoth, Inc. and AG Entertainment Touring was announced that will enable CTS EVENTIM to further cement its position in the international touring market and sign up top acts for future US and global tours.

The quarterly statement on business performance in the first three months of 2023 will be made available at www.eventim.de on 24 May 2023.

 

About CTS EVENTIM 
CTS EVENTIM is a leading international provider of ticketing services and live entertainment. About 250 million tickets per year are marketed using the Company’s systems – through physical box offices and mobile/online portals. These portals operate under brands such as eventim.de, oeticket.com, ticketcorner.ch, ticketone.it and entradas.com. The CTS EVENTIM Group also includes a number of companies promoting concerts, tours, and festivals such as Rock am Ring, Rock im Park, Hurricane, Southside, and Lucca Summer. According to Pollstar’s global rankings for 2022, the EVENTIM Group is the third-biggest promoter in the world. In addition, CTS EVENTIM operates some of Europe’s most renowned venues, for example the LANXESS Arena in Cologne, the K.B. Hallen in Copenhagen, the Waldbühne in Berlin, and the EVENTIM Apollo in London. 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 2022, the Group generated revenue of EUR 1.9 billion across more than 20 countries.

 

For more information:

 

Head of Corporate Communications:   
Carmen Fesenbeck      
Tel.: +49.40.380788.7299     
[email protected]  

 

Investor Relations: 
Marco Haeckermann 
Vice President Corporate Development Strategy 
Tel.: +49.421.3666.270 
[email protected]



18.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: CTS Eventim AG Co. KGaA
Rablstr. 26
81669 München
Germany
Phone: 0421/ 3666-0
Fax: 0421/ 3666-290
E-mail: [email protected]
Internet: www.eventim.de
ISIN: DE0005470306
WKN: 547030
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1635957

 
End of News EQS News Service

1635957  18.05.2023 CET/CEST

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CTS Eventim AG & Co. KGaA Stock

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