Voces joins CTS Eventim's Spanish subsidiary as managing director
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The Munich-headquartered giant is projecting record results for 2022 after presenting the figures for its first nine months of the year
By James Hanley on 17 Nov 2022
CTS Eventim CEO Klaus-Peter Schulenberg says the company is going “from strength to strength” in its post-pandemic recovery as it projects record results for 2022.
Shares in the Munich-headquartered firm climbed by more than 10% on the back of last week’s quarterly financials, and has continued to rise in the subsequent days. From a monthly low of €45.84 on 21 October, the share price soared to a high of €58.80 this past Monday (14 November).
The pan-European ticketing, promoting and venue giant’s sales rocketed from €115 million in the Covid-hit third quarter of 2021 to €694m in Q3 2021. Sales in the equivalent period of the last pre-pandemic year of 2019 were €378m.
“These excellent results are testimony to the fact that our strategic initiatives are taking us from strength to strength following the post-pandemic restart of live entertainment,” says Klaus-Peter Schulenberg, CEO of CTS Eventim, presenting the figures
for the first nine months of 2022.
‘We will maintain this proven course in order to continue to drive our profitable growth, both at home and abroad”
CTS forecasts group revenue of at least €1.7 billion for 2022 as a whole, with normalised EBITDA of at least €330m expected.
“Even in the face of new uncertainties caused by the high level of inflation and geopolitical factors, we will maintain this proven course in order to continue to drive our profitable growth, both at home and abroad,” adds Schulenberg.
Group revenue for the first nine months of 2022 was €1.429bn, bettering the figure for the same period in 2019 by 33%, with normalised EBITDA jumping by 51% to €268m.
Ticketing revenue rose to €339m in the first nine months compared to 111m in 2021 and higher than in the corresponding period of 2019, with the volume of online tickets sold in the period (45.1 million) also substantially higher than 2019.
In the company’s live entertainment segment, revenue improved to €1,1bn for the nine-month period (previous year: €74 million), which was was also significantly higher than in the corresponding period of 2019.
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