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Successful start to 2019 for CTS Eventim
Eventim's Q1 2019 results show growth in both revenue and earnings, while the company's financial performance has "accelerated" in Q2
By IQ on 23 May 2019
Klaus-Peter Schulenberg
German live entertainment powerhouse CTS Eventim began the year with a 3% increase in turnover and similar growth in profits, according to its just-released Q1 2019 financial results.
Quarterly (Jan–March) revenue grew to €282.7 million, up from €274.5m in the same period the previous year, while normalised EBITDA (earnings before interest, tax, depreciation and amortisation) increased 3.1%, to €57.1m.
Both the company’s ticketing (+2.6%/€104.5m revenue) and live entertainment (+4.1%/€182.2m) divisions contributed to that increase, says Eventim CEO Klaus-Peter Schulenberg, although the ticketing segment failed to match last year’s spectacular growth.
“CTS Eventim has delivered a successful start to the year,” says Schulenberg.
“Our outlook for the full year remains positive”
“As expected, our ticketing business did not grow as strongly at the beginning of the year as it did in the very successful first quarter of 2018. Meanwhile, our revenue growth is fuelled by both segments, and has accelerated in the second quarter, especially in ticketing.
“Our outlook for the full year remains positive, not least because of this added momentum.”
Read IQ’s celebration of 30 years of CTS Eventim, including in-depth interviews with Schuleberg and other key Eventim execs, in issue 83 here.
The quarterly report can be read in full at www.eventim.de.
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