- CTS Eventim expedites expansion and boosts projected advancements
Eventim, the ticketing giant and event organizer, saw a boost in its development during the second quarter. The company's revenue surged by over 20% to approximately €794 million, compared to the same quarter in the previous year. Eventim attributed this growth to a robust ticket sales business, as they revealed.
The company also saw an increase in revenue from the events sector with the commencement of the festival and open-air season. In total, they managed to earn €57.7 million, up from €41.7 million in the same period last year. Eventim revised its earnings forecast for 2024, now expecting a substantial rise in adjusted operating profit.
The Eventim share, listed on the MDax index, hit an all-time high at the beginning of trading on Thursday. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) went up by 23.3% to €110 million. Eventim's main office is in Bremen, with an important base in Germany located in Hamburg.
The robust ticket sales and successful events significantly contributed to Eventim revising its forecast for a substantial rise in adjusted operating profit in 2024. The updated forecast for Eventim's revenue and profitability now highlights a promising outlook for the company's future.
