CTS Eventim’s Q2 exceeds pre-pandemic results

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CTS Eventim hails an “impressive comeback” for live entertainment as it shares bullish Q2 2022 financial results.

The pan-European ticketing giant, promoter and cinema operator maintained its strong recovery in the second quarter and even exceeded its results for the corresponding period of 2019, which had been a record year.

The last three months have seen the return of the company’s flagship festivals, Rock am Ring and Rock im Park, as well as a “large number” of concerts in its main markets.

“Live entertainment, which many people have really missed during the pandemic, is making an impressive comeback this summer, and that’s directly reflected in our business performance,” said CTS Eventim CEO Klaus-Peter Schulenberg.

The group’s turnover increased to 734.4 million euros in the first half of 2022, compared to 65.3 million euros in the same period of 2021.

Consolidated revenue is also higher than that of the first half of 2019 at €696.6 million. This trend was even more pronounced in the second quarter of this year, in which revenue increased to €595.1m, compared to €45.7m in the second quarter of 2021 and €413.9m in the second quarter. 2019.

“We are very optimistic that our industry has finally turned the corner after two very difficult years”

Group normalized EBITDA (earnings before interest, tax, depreciation and amortization) amounted to €129.1 million in the first half of 2022, after €79.4 million in the period of previous year and 111.8 million euros in the first half of 2019.

Thanks to the growth in revenue and margin in the ticketing business, normalized EBITDA stood at €105.4m in the second quarter of 2022, compared to €99.1m in the second quarter of 2021 and 54 €.7 million in the second quarter of 2019.

In the ticketing segment, revenues reached 201.5 million euros in the first half of 2022 (previous year: 49.6 million euros), which is slightly higher than in the corresponding period of 2019. In the second quarter of this year, ticketing revenues reached €125m (previous year: €36.1m), up sharply from the pre-pandemic level of the second quarter of 2019.

The volume of tickets sold worldwide also rebounded strongly in the first half of 2022, slightly exceeding the level of the first half of 2019. The main best performing markets for CTS Eventim in this regard were Italy and Switzerland, which recorded significant increases. Notably, worldwide ticket sales in the second quarter of 2022 increased by 38% compared to the same quarter of 2019.

In the live entertainment segment, revenues improved to EUR 541.5 million in the first half of 2022 (previous year: EUR 18.3 million), which was significantly higher than the corresponding period of 2019. In the second quarter of this year, revenues increased to €476.4m (previous year: €11.5m), up sharply from three years ago.

“Given the vigorous revival of cultural activities and live events, we are very optimistic that our industry has finally turned the corner after two very difficult years,” says Schulenberg. “However, rising prices, understaffing, the threat of energy shortages and uncertainty over how the pandemic will unfold remind us that the long-suffering events industry is not still not out of the crisis. Nevertheless, we believe that CTS Eventim is ideally placed to continue to seize opportunities to maintain its growth trajectory.


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