CTS Eventim AG & Co. KGaA : Strong Q1 results, focus could shift to the US
>Strong Q1 results supported by pent-up demand - Yesterday, CTS Eventim published final Q1 2023 results in line with preliminary numbers. Q1 sales were strong and came in some 30% above pre-Covid levels at € 366m. Adjusted EBITDA amounted to € 76m and was also materially above initial expectations. This implies an adjusted EBITDA margin of 21% for the group. Both segments were strong; live entertainment achieved € 224m sales and a margin of 4%. Ticketing generated sal...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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