CTS Eventim AG & Co. KGaA / Key word(s): Forecast
Ad hoc announcement
CTS EVENTIM: Strong business performance in the third quarter of 2022; forecast for 2022 as a whole firmed up
Munich, 7 November 2022. Preliminary results show that CTS EVENTIM AG & Co. KGaA delivered a strong business performance in the Ticketing and Live Entertainment segments in the third quarter of 2022. Both segments thus fared significantly better than in the most recent comparable quarter before the pandemic (third quarter of 2019).
Revenue increased to EUR 694 million in the third quarter of 2022, compared with EUR 115 million in the third quarter of 2021 and EUR 378 million in the third quarter of 2019.
The Group’s normalised EBITDA amounted to EUR 130 million in the third quarter of 2022, following EUR 26 million in the same period of 2021 and EUR 65 million in the third quarter of 2019.
In the Ticketing segment, revenue came to EUR 137 million in the third quarter of 2022 (previous year: EUR 61 million), which was 29% higher than in the third quarter of 2019 (EUR 107 million). Normalised EBITDA stood at EUR 65 million in the third quarter of 2022 (previous year: EUR 27 million), a rise of 44% on the third quarter of 2019 (EUR 45 million).
In the Live Entertainment segment, revenue climbed to EUR 563 million in the third quarter of 2022 (previous year: EUR 56 million), a significant jump compared with the figure from three years ago (EUR 277 million). Normalised EBITDA amounted to EUR 66 million in the third quarter of 2022 (previous year: EUR -1 million) and was therefore around three times higher than in the third quarter of 2019 (EUR 20 million).
Based on business performance in the first nine months of 2022 and expected performance in the remaining period (October to December 2022), the Management Board has firmed up its forecast for 2022 as a whole.
The Company now anticipates consolidated revenue of at least EUR 1.7 billion and normalised EBITDA of at least EUR 330 million.
This forecast is based on the assumption that neither the COVID-19 pandemic nor the impact of the war between Russia and Ukraine has any significant adverse effect on business performance in the remaining months of 2022.
The Group’s full quarterly statement for the period ended 30 September 2022 will be published on 17 November 2022 and will be available at corporate.eventim.de/en from that date.
Head of Corporate Communications:
07-Nov-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
CTS Eventim AG & Co. KGaA
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:
End of Announcement
EQS News Service