CTS Eventim AG & Co. KGaA : Q3 a mixed bag, outlook confirmed, we lower EBITDA forecasts by 1-2%
>Double-digit top-line growth but sharp profit decline - Yesterday, CTS Eventim released mixed Q3 2024 results. In Q3 2024, revenue rose 13% y-o-y to € 825m, 8% above the consensus despite a very tough base. The Ticketing business was up 19%, supported by major artists including Ed Sheeran, Iron Maiden, Gilberto Gil and Vasco Rossi. Live Entertainment sales grew 11%. Adjusted EBITDA decreased 30% y-o-y to € 121m, 16% below consensus. Last year’s payment from autoticke...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.
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