CTS Eventim AG & Co. KGaA (EVD.DE), a leading provider of ticketing and live entertainment services, has announced an increase in its nine-month adjusted EBITDA by 12.1% compared to the previous year, reaching 322.7 million euros. However, the adjusted EBITDA margin slightly declined to 15.9% from 16.4% in the same period last year.
For the nine-month span, consolidated revenue rose by 15.8% year-over-year, hitting a milestone of 2.027 billion euros, surpassing the 2 billion euros mark for the first time in such a timeframe.
This revenue growth is attributed to organic expansion within Germany and other key European markets, alongside sustained growth driven by recent acquisitions.
In the Ticketing segment, revenue saw an impressive increase of 22.9% year-on-year, totaling 564.6 million euros, with adjusted EBITDA improving by 18.4% to reach 240.7 million euros.
Meanwhile, the Live Entertainment segment reported a 13.6% increase in revenue, totaling 1.494 billion euros. However, adjusted EBITDA in this segment saw a slight decrease of 3%, amounting to 82.1 million euros.
Looking forward to fiscal 2024, the company anticipates a significant year-on-year rise in adjusted EBITDA.
Klaus-Peter Schulenberg, CEO, remarked, "CTS Eventim continues to achieve steady growth amid an increasingly unstable political and economic landscape. The strategic focus on rapid expansion and enhancing our portfolio's financial resilience has been crucial to the long-term success of our Group."
