Ticketing specialist CTS Eventim has said that it anticipates solid business performance in the current financial year after posting an increase in nine-month earnings.
CTS Eventim said that the business model is in robust and sustainable shape after a record-breaking 2015. Last year featured an unusually high number of major tours, with business performance in the live entertainment segment only expected to be moderate in the current financial year, according to the Reuters news agency.
Nine-month revenue was flat at €576.2m (£489m/$609m) versus €577.5m in the corresponding period in 2015.
However, normalised group earnings before tax increased slightly from €107.2m to €107.7m, with an increase in online ticketing cited as a key reason for the rise.
Last month, ALDA Events, a Dutch promoter and organiser of dance music events, linked up with CTS Eventim to expand its operations into Germany.
ALDA Germany, which will be a joint venture between ALDA Events and CTS Eventim, will focus its efforts on staging events in Hamburg, as well as Berlin, Dusseldorf, Frankfurt, Munich and Stuttgart.
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