Germany-based live entertainment company and ticket seller CTS Eventim reiterated its full-year outlook for 2024, with the acquisition of See Tickets and other major acquisitions driving double-digit revenue and EBITDA growth in the first three quarters.
Revenue increased significantly from January to September Annual increase of 15.8% arrive 2.03 billion euros ($2.12 billion), long-term driven by organic growth in Germany and other core European markets as well as recent acquisitions, particularly for View tickets.
The third quarter is the first full period of See Tickets integration, supporting the company’s expansion into the UK, US and other markets. Additional growth comes from recently acquired South American ticketing businesses, including point of view ticket in Chile and Telephone ticketing In Peru.
Ticketing business revenue increased significantly Annual increase of 22.9% arrive €564.6 millionpromoted by concerts featuring many major artists, e.g. Ed Sheeran “Iron Lady” Gilberto Gil, and Vasco Rossi. The live entertainment segment also showed strong growth, with growing revenue Annual increase of 13.6% arrive 1.49 billion eurosThis is despite ongoing cost pressures and integration charges related to See Tickets’ live entertainment events.
CTS is completed 300 million euros Acquired See Tickets in June as part of its acquisition Vivenditicketing and festival business. In 2023, the acquisition business will be generated 137 million euros In terms of revenue, the UK and US markets were the strongest performers.
The company said on Thursday (November 21) that “the project to integrate See Tickets’ national companies is already well underway and this will deliver synergies as quickly as possible.”
To further strengthen its market position, CTS Eventim will exercise its option to purchase additional 17% French ticketing company shares france ticketsa subsidiary of the French retailer FayakdatiThe merger is expected to begin in late November and is expected to begin in December 2024. 65% from 48%.
“CTS Eventim continues to achieve solid growth in an increasingly volatile political and economic environment.”
Claus–peter Schulenberg, CTS Eventim
The company also highlighted some of its successful projects during the period, including handling on-site ticketing 2024 Summer Olympics In Paris. On this basis, CTS subsidiaries Ticket number one Signed a ticketing contract 2026 Winter Olympics Milan/Cortina d’Ampezzo, Italy.
In the festive realm, pre-sales for anniversary editions rock ring and park rock Showing strong momentum in 2025. The company is also expanding its EVENTIM LIVE GROUP Asia, supporting international and local events in the region.
CTS also hinted that it is continuing to build Italy’s “largest, most innovative and most sustainable” indoor stadium, which will be located in Milan. also, vienna holdings CTS Eventim has recently been selected to build and operate a new large-scale venue, further expanding the company’s venue portfolio.
CTS noted that despite increasingly challenging economic conditions and continued cost pressures, the company maintained strong adjusted EBITDA margins 15.9%slightly lower than last year 16.4%. Adjusted EBITDA growth from January to September Annual increase of 12.1% arrive €322.7 million.
“In an increasingly volatile political and economic environment, CTS Eventim continues to achieve solid growth. Strategies that facilitate rapid expansion and increase the financial resilience of the portfolio have proven to be key to our group’s long-term performance. Claus–peter Schulenberg.
The nine-month performance prompted CTS Eventim to reaffirm its full-year 2024 outlook, predicting that adjusted EBITDA will grow significantly compared with the same period last year.
CTS has been listed on the Frankfurt Stock Exchange since 2000 and handles more than 300 million Tickets are purchased annually through physical ticket offices and digital platforms. The company operates in more than 25 countries. In 2023, total revenue will be achieved 2.359 billion euros.
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