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CTS Eventim’s Q2 exceeds pre-pandemic results

The behemoth's second quarter of 2022 has outstripped results for the corresponding period of 2019, which had been a record year

By IQ on 24 Aug 2022

Klaus-Peter Schulenberg, CEO of CTS Eventim

Klaus-Peter Schulenberg, CEO of CTS Eventim


CTS Eventim is hailing an “impressive comeback” for live entertainment, as it shares bullish financial results for the second quarter of 2022.

The pan-Europe ticketing giant, promoter and venue operator maintained its strong recovery in Q2 and even exceeded its results for the corresponding period of 2019, which had been a record year.

The past three months saw the return of the company’s flagship festivals, Rock am Ring and Rock im Park, as well as a “huge number” of concerts across its core markets.

“Live entertainment, which many people really missed during the pandemic, is making an impressive comeback this summer, and this is directly reflected in our business performance,” says CEO of CTS Eventim, Klaus-Peter Schulenberg.

The group’s revenue increased to €734.4 million in the first half of 2022, compared with €65.3m in the same period of 2021.

Consolidated revenue was also higher than in the first half of 2019 at €696.6m. This trend was even more pronounced in the second quarter of this year, during which revenue increased to €595.1m, compared with €45.7m in the second quarter of 2021 and €413.9m in the second quarter of 2019.

“We are very optimistic that our industry has now finally turned the corner after two very difficult years”

The group’s normalised EBITDA (earnings before interest, taxes, depreciation, and amortisation) amounted to €129.1m in the first six months of 2022, following €79.4m in the prior-year period and €111.8m in the first half of 2019.

As a result of revenue and margin growth in the ticketing business, normalised EBITDA stood at €105.4m in the second quarter of 2022, compared with €99.1m in the second quarter of 2021 and €54.7m in the second quarter of 2019.

In the ticketing segment, revenue rose to €201.5m in the first half of 2022 (previous year: €49.6m), which was slightly higher than in the corresponding period of 2019. In the second quarter of this year, ticketing revenue came to €125m (previous year: €36.1m), which was up sharply compared with the pre-pandemic level in the second quarter of 2019.

The volume of tickets sold worldwide also bounced back strongly in the first half of 2022, slightly exceeding the level in the first half of 2019. CTS Eventim’s best-performing core markets in this regard were Italy and Switzerland, which recorded significant increases. Notably, worldwide ticket sales in the second quarter of 2022 were up 38% compared with the same quarter of 2019.

In the live entertainment segment, revenue improved to €541.5m in the first six months of 2022 (previous year: €18.3m), which was substantially higher than in the corresponding period of 2019. In the second quarter of this year, revenue climbed to €476.4m (previous year: €11.5m), up sharply compared with the figure three years ago.

“Given the robust relaunch of cultural activities and live events, we are very optimistic that our industry has now finally turned the corner after two very difficult years,” says Schulenberg. “However, increasing prices, a lack of staff, the threat of an energy shortage and uncertainty about how the pandemic will unfold remind us that the long-suffering events sector has not yet emerged from the crisis. Nevertheless, we believe that CTS Eventim is ideally placed to continue seizing opportunities in order to maintain its growth trajectory.”

 


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