CTS Eventim has reported significant increases in revenues in both ticketing and live entertainment during the first six months of 2019.
Eventim improved its first-half ticketing revenues by 9.2 per cent to €200.2m (£181.2m/$221.7m), while normalised EBITDA increased by 13.3 per cent to €74.4m.
The main driver was a further increase in online ticket volume after shifting 23.7 million tickets via its own web portals in the first half of the year, an increase of 6.1 per cent over the previous year. In the second quarter, online ticket volume rose by 8.3 per cent.
Live entertainment revenues increased by 17.6 per cent to €504.5m, exceeding half a billion euros for the first time after six months. Normalised EBITDA rose by 31.1 per cent from €28.5m in the previous year to €37.4m
Klaus-Peter Schulenberg, chief executive of Eventim, said: “CTS Eventim is heading for another successful year. Our revenue and earnings growth has gained momentum in recent months and is driven by both segments.
“Among other things, we have improved our online ticket volume by more than six per cent. In addition, Eventim has made some important strategic moves for the future: in ticketing through our planned stake in France Billet, in live entertainment with the founding of our promoter network Eventim Live.”
Group revenues rose by 14.8 per cent to €696.6m, compared to the first six months in the previous year. Normalised EBITDA increased by 18.7 per cent to €111.8m thus exceeding the €100m mark at mid-year for the first time.
The normalised EBITDA margin rose from 15.5 per cent to 16 per cent.
Image: Pixabay
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