EQS-News: CTS EVENTIM: record year expected following strong third quarter of 2022
EQS-News: CTS Eventim AG & Co. KGaA
/ Key word(s): 9 Month figures
Munich, 17 November 2022. CTS EVENTIM, one of the leading international providers of ticketing services and live entertainment, is anticipating record results for the year as a whole, with live entertainment having made an excellent comeback in 2022. As in the second quarter of 2022, following the lifting of COVID restrictions, the Companys revenue and earnings in the third quarter of 2022 once again exceeded those achieved in the same period of 2019, the last year before the pandemic.
Based on the first nine months, and despite the first quarter of 2022 still being very weak for COVID-related reasons, the Management Board expects consolidated revenue of at least EUR 1.7 billion and normalised EBITDA of at least EUR 330 million for the year as a whole on the back of the strong second and third quarters, and the forecast for October to December. This represents a significant improvement on the results achieved in the pre-pandemic year 2019, which itself had been a record year.
These excellent results are testimony to the fact that our strategic initiatives are taking us from strength to strength following the post-pandemic restart of live entertainment, says Klaus-Peter Schulenberg, CEO of CTS EVENTIM, as he presented the figures for the first nine months of 2022. Even in the face of new uncertainties caused by the high level of Inflation and geopolitical factors, we will maintain this proven course in order to continue to drive our profitable growth, both at home and abroad.
Group revenue improved to EUR 1,429 million in the first nine months of 2022, compared with EUR 180 million in the prior-year period. This was also higher than in the same period of 2019 (EUR 1,075 million).
This trend was even more pronounced in the third quarter of 2022, when revenue increased to EUR 694 million, compared with EUR 115 million in the third quarter of 2021 and EUR 378 million in the third quarter of 2019.
The Groups normalised EBITDA amounted to EUR 268 million in the first nine months of 2022, following EUR 105 million in the prior-year period and EUR 177 million in the first nine months of 2019. Normalised EBITDA stood at EUR 139 million in the third quarter of 2022, compared with EUR 26 million in the third quarter of the previous year and EUR 65 million in the third quarter of 2019.
In the Ticketing segment, revenue rose to EUR 339 million in the first nine months of 2022 (previous year: EUR 111 million), which was higher than in the corresponding period of 2019. In the third quarter of this year, revenue came to EUR 137 million (previous year: EUR 61 million), which was up sharply compared with the pre-pandemic level in the third quarter of 2019. Normalised EBITDA amounted to EUR 163 million in the first nine months of 2022 (previous year: EUR 91 million), which was also more than in the same period of 2019. In the third quarter of 2022, normalised EBITDA was EUR 74 million (previous year: EUR 27 million), much higher than in the third quarter of 2019.
In the Live Entertainment segment, revenue improved to EUR 1,105 million in the first nine months of 2022 (previous year: EUR 74 million), which was substantially higher than in the corresponding period of 2019. In the third quarter of this year, revenue climbed to EUR 563 million (previous year: EUR 56 million), up sharply compared with the figure three years ago. Normalised EBITDA amounted to EUR 105 million in the first nine months of 2022 (previous year: EUR 14 million), which was significantly higher than in the first nine months of 2019. In the third quarter of this year, normalised EBITDA was EUR 64 million (previous year: EUR -1 million) and thus roughly three times the pre-pandemic figure for the same period of 2019.
Continuing the trend set in the first six months of 2022, the volume of online tickets sold in the third quarter (17.2 million tickets) and the first nine months (45.1 million tickets) of 2022 was substantially higher than in the same period of 2019. The core markets of CTS Eventim performed especially well in this regard.
The Group quarterly statement on business performance in the first three quarters of 2022 was made available online at corporate.eventim.de at the time of publication of this press release.
About CTS EVENTIM
CTS EVENTIM is one of the leading international providers of ticketing services and live entertainment. Before the outbreak of the coronavirus pandemic, around 250 million tickets per annum were marketed using the Companys systems be it through physical box offices, online, or from mobile terminals. Its online portals operate under brands such as eventim.de, oeticket.com, ticketcorner.ch, ticketone.it, and entradas.com. The EVENTIM Group also includes many concert, tour, and festival promoter companies for events like Rock am Ring, Rock im Park, Hurricane, Southside, and Lucca Summer. In addition, CTS EVENTIM operates some of Europes most renowned venues, for example the LANXESS Arena in Cologne, the K.B. Hallen in Copenhagen, the Waldbühne in Berlin, and the EVENTIM Apollo in London. CTS Eventim AG & Co. KGaA (ISIN DE 0005470306) has been listed on the stock exchange since 2000 and is currently a member of the MDAX segment.
Head of Corporate Communications:
17.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Company:||CTS Eventim AG & Co. KGaA|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1489865|
|End of News||EQS News Service|
1489865 17.11.2022 CET/CEST
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