Finance

CTS Eventim posts record results for 2022

Featured image credit: Danny Howe on Unsplash

Featured image credit: Danny Howe on Unsplash

Ticketing and live entertainment company CTS Eventim has revealed its full-year financials for 2022, with record results. 

Consolidated revenue amounted to €1.9bn (£1.7bn/$2bn) in 2022, representing an increase of 372% compared to the previous year’s €408m.

Eventim offered a glimpse at the company’s successful 2022 earlier this month.

The group’s normalised EBITDA amounted to €384m in 2022 compared to €208m the year prior and is also up on the €286m total in 2019.

The ticketing segment generated revenue totalling €541m compared to €24m the year prior, and was also 12% higher than the €482 figure in 2019. The ticketing section’s normalised EBITDA amounted to €263m compared to €177m in 2021.

The live entertainment segment brought in €1.4bn compared to €191m in 2021. Normalised EBITDA for this section amounted to €121m compared to €30m the year before.

Eventim noted that the markets of Germany, Switzerland, Italy and Brazil were the main drivers behind this growth. The company also said that the ticketing segment’s success could be attributed to the post-pandemic restart and the launch of the digital-only Eventim.Pass, which resulted in sales of more than two million digital tickets. These were utilised for the Ed Sheeran tour.

In 2022, 69 million online tickets were sold through CTS Group’s webshops, which is an increase of 116% compared to 2021, and a 21% rise on 2019.

Klaus-Peter Schulenberg, chief executive of CTS Eventim, said: “We are delighted by the exceptional growth generated by our two main segments in their core domestic and international markets. Our Group earnings reflect the sustained and fast-growing trend that is seeing people everywhere wanting to attend live events again.

“The fact that we were able to significantly increase our revenue in 2022 was not a given at first because of the pandemic. Indeed, there are actually various developments that have contributed to this success, such as the growth of digital ticket sales, investment in systems-based innovations, and our global expansion strategy. We now expect to maintain this course of strong profitable growth and further improve our market position.”

He added: “As an integrated live entertainment group, we will continue to take every opportunity to grow with and within the markets both on the domestic front and internationally. We will be opening up new fields of business and improving our offering and our technologies on an ongoing basis.”