The German company's Swedish ticketing operation will become a pan-Scandinavian one as part of a joint venture with Egmont's Venuepoint
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After topping the €1bn mark in 2017, Europe's biggest ticketer grew turnover another 20% last year, bolstered by a record-breaking fourth quarter
By Jon Chapple on 26 Feb 2019
European ticketing giant CTS Eventim ended the 2018 financial year with record turnover and earnings, growing group revenue 20.1% after a best-ever fourth quarter.
Total revenue, from ticketing and live entertainment, topped €1.2 billion (€1.242bn, up from a then record-breaking €1.034bn in 2017), while EBITDA (earnings before interest, tax, depreciation and amortisation) grew 12.9%, from €204.7 million to €231.1m.
Revenue from Bremen-based CTS’s ticketing activities grew 6.9% to €447.1m, with normalised EBITDA climbing 9.6% to €195.8m. This growth could have been even stronger, says the company, was it not for expenses related to the introduction of the general data protection regulation (GDPR).
Online ticket sales rose to 54.3m – the first time CTS Eventim sold more than 50m tickets via its own web shops – up from 48.9m in 2017, with a good 20m of that volume in the fourth quarter alone, when the ticketing division recorded its highest-ever quarterly revenue (€170.5 million) and normalised EBITDA (€93.7 million).
“Our financials show that we are able to further develop CTS Eventim from a position of strength”
Live entertainment turnover, meanwhile, increased 29.7%, to €812.5m (up from €626.7m), boosted by acquisitions in Italy and Spain, as well as “a number of especially well-attended and high-revenue tours” compared to 2017.
Normalised EBITDA from live shows rose 35.4%, to €35.3m.
“Our financials show that we are able to further develop CTS Eventim from a position of strength,” comments Eventim CEO Klaus-Peter Schulenberg. “In ticketing, we increased our growth momentum over the course of the year, and in live entertainment we consolidated our leading role in Europe with well-attended tours and further acquisitions.
“By winning the contract for collecting the passenger vehicle toll in Germany, we also demonstrated that we can successfully transfer our existing competencies into new business areas.”
The full financial results for 2018, as well as details on shareholder dividends and the outlook for 2019, will be published on 20 March.