CTS Eventim 9M Adj. EBITDA, revenue growth, margin decline; Confirms outlook for FY24

(RTTNews) – CTS Eventim AG & Co. KGaA, (EVD.DE), a provider of ticketing and live entertainment services, announced on Thursday that its nine-month adjusted EBITDA increased by 12.1 percent compared to to the previous year to reach 322.7 million euros, while the adjusted EBITDA margin fell to 15.9 percent from 16.4 percent a year ago.

Consolidated turnover increased by 15.8% year-on-year to €2.027 billion, crossing the €2 billion mark for the first time in a nine-month period.

The company said the revenue growth reflected organic growth in Germany and other major European markets, as well as the long-term boost provided by recent acquisitions.

Revenue in the Ticketing segment increased by 22.9 percent year-on-year to €564.6 million and adjusted EBITDA increased by 18.4 percent to €240.7 million.

Revenue in the Live Entertainment segment increased by 13.6 percent to 1.494 billion euros, while adjusted EBITDA decreased slightly by 3 percent to 82.1 million euros.

For fiscal 2024, the company continues to expect adjusted EBITDA as a whole to increase significantly year over year.

Klaus-Peter Schulenberg, CEO, said: “CTS EVENTIM continues to generate stable growth in an increasingly volatile political and economic environment. The strategy to drive rapid expansion and make the portfolio more financially resilient has proven to be key to the long-term success of our Group. long-term performance.”

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