CTS Eventim with strong growth thanks to superstar events
Ticket marketer CTS Eventim significantly increased its revenue and operating profit in the first nine months of 2023 thanks to several major events and stronger demand for tickets. The MDax company benefited from concert series such as 'The Eras Tour' by US singer Taylor Swift and performances by Paul McCartney, which are scheduled for next year. Pre-sales went well here, the company announced on Thursday.
Between January and September, revenue rose by 23 percent to 1.75 billion euros compared to the same period last year. Adjusted for special effects, earnings before interest, taxes, depreciation and amortization amounted to 343.3 million euros, around a third above the previous year's figure. However, this figure also includes compensation payments from the German government to AutoTicket, a joint venture between CTS Eventim and the Austrian toll specialist Kapsch, for the collapse of the car toll. All in all, CTS earned a good 205 million euros after 131 million a year ago.
The Group reaffirmed its forecast for the year, which it had raised at the beginning of October. The Executive Board anticipates revenue of well over two billion euros. The operating result adjusted for special effects is expected to be well over 400 million euros. The many concerts and events planned for the end of the year should also help.
Customers can utilize CTS Eventim's services during their leisure time, especially during major concerts like Taylor Swift's 'The Eras Tour' and Paul McCartney's performances, which are highly anticipated in the music scene. The company's revenues from these events contribute significantly to their revenue growth, enhancing their capacity to offer more exciting musical experiences to the public.
Source: www.dpa.com
