CTS Eventim’s ticketing and live entertainment segments had a major impact in the firm’s increase in revenue and earnings in the first nine months of 2018.
Ticketing saw a four-per-cent boost over the first three quarters to reach €267.5m, primarily due to an “improved” online ticketing volume. More than 33.7 million tickets were sold on Eventim’s online ticket store, marking a year-on-year increase of 8.7 per cent.
The ticketing segment’s normalised EBITDA exceeded the €100m mark for the first time after nine months and was up 3.8 per cent at €102.1m. Eventim noted in a statement, “this encouraging growth in earnings was negatively affected by expenses incurred in implementing the General Data Protection Regulation.”
Overall, group revenue rose by 23.9 per cent, year-on-year, to €922.5m, while normalised EBITDA saw a boost of €140m.
Klaus-Peter Schulenberg, chief executive of Eventim, said: “CTS Eventim is on course for another record year. We improved our online ticketing volume by almost nine per cent, even though in many countries, also due to the Football World Championship (World Cup), fewer highly profitable tours commanding higher price levels went on sale than the year before.
“The fact that we have ramped up our dynamic growth in recent months shows that we can be confident about the fourth quarter. We are looking forward to our Christmas business which has been and will be featuring a lot of presales for many attractive events.”
Live entertainment also supported Eventim’s revenue increase after growing by a strong 34.9 per cent to €656.6m. Normalised EBITDA for the segment climbed significantly by 78.8 per cent to €37.9m, which meant that revenue and earnings in the segment had already exceeded the totals for 2017 after nine months.
The firm points to its promoters’ portfolio booking a greater number of tours with particularly large audiences and high sales revenue. It also drew success from the new ‘Holiday on Ice’ tour, various music festivals, including the second ‘New Horizons’ festival, which attracted 30 per cent more visitors to the Nürburgring than at its debut last year, and another successful season for the LANXESS arena in Cologne.
Image: Pxhere
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