CTS proposes record dividend after bumper year

After its share price reached an all-time high last week, CTS Eventim has confirmed its 18th record year of revenue since its IPO in 2000.

CTS’ share price, which peaked at a record €78 last week, stands at €75.95 at press time.

As previously announced, the pan-European ticketing and live entertainment giant’s annual revenue was up 22% in 2023, surpassing €2 billion for the first time to reach €2.359bn, while normalised EBITDA increased at 32% to reach €501.4 million.

The company’s board will propose to distribute €137.3m in dividends to shareholders at the firm’s 14 May meeting – the highest dividend in its history. The figure equates to 50% of net income or €1.43 per share (previous year: €1.06 per share).

“These excellent results are proof that live entertainment is once again driving the arts and creative sectors,” says CTS chief Klaus-Peter Schulenberg. “We owe this primarily to the creativity of the artists who delight their fans around the world day in, day out. It is also thanks to the countless promoters who, with their boldness and entrepreneurial spirit, stage events and create unforgettable experiences.

“And last but not least, our team and our technologies ensure that live cultural events can thrive and that everyone involved can make a living from their work. Our platforms and systems are synonymous with performance and reliability – as are the company itself and everyone who works here.”

Ticketing, up 32% to €717.3m, was the main driver thanks to demand for tours by the likes of Taylor Swift, Rammstein, Apache 207, Bruce Springsteen, Coldplay and Paul McCartney.

The German-headquartered firm is projecting a moderate rise in total revenue in 2024

“Economies of scale resulting from the shared use of centralised infrastructure helped to increase the margin,” adds a press release.

CTS partnered with Sony Music Latin Iberia to acquire Chile’s Punto Ticket and Peru’s Teleticket last November. However, the full effect of these acquisitions will only be seen in earnings this year as they have only been included in the scope of consolidation since mid-November.

Meanwhile, revenue from its live entertainment segment rose 19% to €1.677bn in 2023, with a key focus in 2023 being the expansion of its business in North America via its JVs with Mammoth Inc and AG Entertainment Touring. Last December, it also joined forces with US promoter Walter McDonald to establish boutique live entertainment company The Touring Co. in North America.

The German-headquartered firm is projecting a moderate rise in total revenue in 2024 and expects earnings to keep pace with 2023 levels.

In addition, CTS’ venue portfolio, which includes Waldbühne in Berlin, Cologne’s Lanxess Arena and London’s Eventim Apollo, among others, will be expanded at the end of 2025 with the 16,000-cap multi-purpose Arena for Milan in Italy.

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