CTS Eventim AG & Co. KGaA : Positive 2024 outlook and M&A allows raising TP to € 96
>Positive profit outlook for FY 2024 - After providing prelims for 2023 in February, CTS Eventim last week released final 2023 results in line with prelims. Management also gave an outlook for FY 2024: The company expects a moderate rise in revenue and EBIT is expected to be at the level of 2023, although the previous year included one-off income from damages payments from autoTicket and Corona subsidies totalling € 49m. Without these non-recurring items, adjusted EBI...CTS Eventim is a promoter of live music events in the market of live entertainment in Continental Europe. Co. operates in two segments: Ticketing, which is engaged in producing, selling, brokering, distributing and marketing tickets for concert, theatre, art, sports and other events in Germany and abroad, using data processing and data transmission technologies; and Live Entertainment, which is engaged in planning, preparing and executing tours and events, primarily music events and concerts, and marketing music productions. In its Live Entertainment segment, Co. operates in the German-speaking countries and also, through its Hammersmith Apollo Ltd. joint venture in Great Britain.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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