Eventim's Q1 2019 results show growth in both revenue and earnings, while the company's financial performance has "accelerated" in Q2
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The pan-European live entertainment giant reports a sharp increase in revenue during the second quarter of 2021, primarily due to ticket sales
By IQ on 24 Aug 2021
CTS Eventim’s Q2 financial results show that the company is “optimally positioned for the return of live entertainment,” according to CEO, Klaus-Peter Schulenberg.
In the period from April to June 2021, the Munich-based company’s revenue was up sharply compared with Q2 2020, primarily thanks to an uptick in ticket sales.
In the second quarter of 2021, ticketing revenue went up by 283.7%, from €9.4 million to €36.1m. Normalised EBITDA (earnings before interest, taxes, depreciation and amortisation) amounted to €77.6m (previous year: loss of €18.2m). This included around €73m in German coronavirus support.
Before the outbreak of the coronavirus pandemic, around 250 million tickets per annum were marketed using the company’s systems, which include online portals under brands such as eventim.de, oeticket.com, ticketcorner.ch, ticketone.it, and entradas.com.
The company’s live music revenue also improved in the second quarter of 2021, jumping by 81.5% year on year to €11.5m (previous year: €6.3m). Normalised EBITDA amounted to €21.4m (previous year: €1.9m). German coronavirus support contributed around €29m to earnings.
“Ticket sales are recovering, which confirms our view that people are yearning for live entertainment after the pandemic”
“Ticket sales are recovering, which confirms our view that people are yearning for live entertainment after a year and a half of the pandemic,” said Schulenberg. “However, politicians must set out a framework so that it is economically viable for events to be held again. The government support is very helpful but the industry wants to finally be able to earn its money by returning to work.”
He added: “CTS Eventim has taken the coronavirus crisis as an opportunity to further strengthen and broaden its market position by undertaking a number of major strategic initiatives. Going forward, we will be better positioned than ever before, especially internationally, to be able to impress our customers with our services, industry expertise and technology in the live entertainment business.”
During the pandemic, the pan-European live entertainment giant continued the expansion of its Eventim Live promoter network, establishing the Gadget abc Entertainment Group in Switzerland, partnering with legendary US promoter Michael Cohl, and acquiring a majority stake in the Barracuda Group in Austria.
In 2021, CTS acquired Berlin-based promoter DreamHaus, led by Matt Schwarz, taking the network up to 36 promoters in 15 countries.
The company recently announced plans to build a new €180 million arena in Milan, northern Italy.
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