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CTS EVENTIM Reports Strong Q2 Growth
August23
CTS EVENTIM Group experienced robust growth in the second quarter of 2024, with strong results part
CTS EVENTIM Group experienced robust growth in the second quarter of 2024, with strong results particularly in its ticketing business and international markets.
Consolidated revenue for the quarter reached EUR 793.6 million, marking a 21.2% increase compared to the previous year. The group`s growth rate significantly outpaced its 11.6% increase in the first quarter. Adjusted EBITDA also saw a substantial rise, growing 23.3% to EUR 110 million.
The Ticketing segment was a key driver of this performance, with revenue jumping 28.5% to EUR 175.2 million in Q2. Adjusted EBITDA for this segment rose by 35.1% to EUR 73.4 million. This growth was supported by strong international demand, with three of the top five best-selling events occurring in Europe and South America. Notable events included concerts by Italian rapper Ultimo and South American reggae band Natiruts.
The Live Entertainment segment also posted solid results, with revenue climbing 19.7% to EUR 631.1 million. Adjusted EBITDA for this segment increased by 5% to EUR 36.6 million. Four of the top five events in this segment took place outside of Germany, including performances by Bruce Springsteen in Spain and concerts by Ultimo, Pinguini Tattici Nucleari, and Max Pezzali in Italy. The successful festival season, with events like Rock am Ring and Hurricane, further bolstered the group`s performance.
The acquisition of See Tickets from Vivendi, which was included in the consolidated figures for the first time in June, has been a strategic asset for CTS EVENTIM. This acquisition has not only enhanced the company`s market position in key regions like the UK and the US but has also expanded its team with highly skilled professionals. The integration of See Tickets` live entertainment activities has provided additional growth momentum, particularly in international markets.
In addition to strong financial performance, CTS EVENTIM continues to make strategic investments in infrastructure, including the ongoing construction of the ARENA FOR MILAN. Once completed, this will be Italy`s largest and most innovative multipurpose indoor arena. The marketing of naming rights and VIP suites for the arena is set to begin in the autumn.
The group also achieved a major milestone with the successful preparation and execution of ticketing operations for the Olympic and Paralympic Games Paris 2024. CTS EVENTIM will continue its role as an official ticketing partner for the upcoming 2026 Winter and 2028 Summer Olympic and Paralympic Games.
Looking ahead, CTS EVENTIM is optimistic about the second half of 2024. The group expects continued strong performance, bolstered by a busy summer schedule of shows and festivals, and traditionally strong ticketing sales in the fourth quarter. The Executive Board anticipates significant year-on-year growth in adjusted EBITDA for the full year.
CEO Klaus-Peter Schulenberg said “Our performance in terms of growth and earnings has been excellent in the second quarter of 2024. As announced, we will achieve further growth this year, both organically and through a successful acquisition. Through See Tickets and its associated live entertainment activities, we have not only enhanced our market position in two of our focus markets – the UK and the US – but also expanded our team to include additional highly motivated and highly qualified units. Combined with the innovative technologies and solutions that we have acquired, this is a valuable asset for our company and opens up even more scope for international expansion going forward.”
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