CTS Eventim has witnessed a 39% increase in its half-yearly revenue compared to the same period last year, demonstrating the high demand for live entertainment across its core markets.
Revenue for the ticketing and live entertainment company’s six months ending June 30 amounted to €1.03bn (£900m/$1.1bn) compared to €734m during the same period the year prior. This equated to a €287m increase for the half-yearly results.
EBITDA (earnings before interest, taxes, depreciation, and amortisation) amounted to €168m for the half year compared to €121m in 2022, with gross profit amounting to €226m compared to €142m.
Revenue for the ticketing segment increased from €202m to €285m, an increase of €83m, with Eventim accrediting a 6.4 million jump in ticket sales to 34 million from 28 million in 2022.
In the live entertainment segment, revenue rose from €541m to €751m, an increase of €210m. This was due to a greater number of events held in 2023, while the first quarter of 2022 still presented difficulties following the pandemic and COVID-19 restrictive measures.
Normalised EBITDA for the ticketing segment totalled €122m compared to €83m for the half-yearly report in 2022. Normalised EBITDA for the live entertainment section of the Eventim business amounted to €48m, up from €40m during the same period the year prior.
During Q2, Eventim posted a revenue of €655m compared to €595 in Q2 last year, with a gross profit of €123m in Q2 2023 compared to €109m in 2022.
“The breadth and depth of our portfolio and the successful internationalisation of our business are the key drivers of our strong and stable growth,” said chief executive Klaus-Peter Schulenberg.
“After the market distortions caused by pandemic-related catch-up effects, we are now back to ‘business as usual’ at CTS Eventim. And ‘as usual’ for us means healthy organic growth and the development and expansion of new and existing business segments. In the first half of this year, CTS Eventim has demonstrated great flexibility and entrepreneurial ingenuity on all fronts, enabling us to successfully navigate current macroeconomic challenges and stay on track for healthy growth. All relevant key figures confirm that both the wider market and our Group continue to perform at higher levels than before the pandemic.”
Earlier this month, CTS Eventim exercised its call option to acquire a further 17% of France Billet’s share capital, increasing its stake in the company from 48% to 65%.