- Surge in consolidated revenue during the first quarter thanks to healthy growth in the Ticketing and Live Entertainment segments
- Normalised EBITDA of the Group back comfertably in positive territory
- Ticket sales in April/May well above the record level seen in 2019
- CEO Klaus-Peter Schulenberg: ”Robust start to the year makes us optimistic aboout a resurgence of live entertainment”
CTS EVENTIM, one of the leading international providers of ticketing services and live entertainment, made a strong start to 2022. Coronavirusrelated restrictions on events were lifted in the core markets, which meant that revenue in the Ticketing and Live Entertainment segments was up substantially in the first quarter of 2022 compared with the prior-year period. “Concert and festival venues are finally coming back to life. The strong start to 2022 makes us all optimistic that live entertainment will make a robust comeback this year,” said the CEO of CTS EVENTIM, Klaus-Peter Schulenberg, when the results for the first quarter were presented.
These results show that consolidated revenue improved to €139.2 million in the first quarter of 2022 (previous year: €19.6 million). Normalised EBITDA came to €23.7 million (previous year: €-19.6 million).
In the Ticketing segment, revenue rose to €76.5 million in the first three months of 2022 (previous year: €13.5 million). Normalised EBITDA was back comfortably in positive territory at €27.2 million (previous year: €-13.4 million).
Revenue in the Live Entertainment segment improved year on year to reach €65.1 million in the first quarter of 2022 (previous year: €6.8 million). Normalised
EBITDA amounted to €-3.5 million (previous year: €-6.2 million).
“We are delighted that ticket sales in April and so far in May too have been well above the level seen in the same period of 2019, which had been a record year. This underpins the hope that the live entertainment sector will really bounce back after an enforced two-year break due to coronavirus,” explained Klaus-Peter Schulenberg. “The live entertainment business ramped up again in our European markets and overseas
much sooner than in Germany, where coronavirus restrictions were lifted relatively late.”
There was positive news in the first quarter of 2022, when an arbitration tribunal decided that autoTicket GmbH – a joint venture between CTS Eventim AG Co. KGaA and Kapsch TrafficCom AG – is entitled to claim for compensation and reimbursement of expenses from the Federal Republic of Germany. The tribunal confirmed the merits of the claims for compensation for the gross enterprise value and for reimbursement of the costs incurred in connection with fulfilment of the operator agreement. The first phase of the two-stage arbitration proceedings is therefore complete. The claim amount will be ruled upon in the next phase. After the operator agreement concerning the collection of the car toll in Germany was terminated, autoTicket GmbH brought claims for compensation of around €560 million against the Federal Republic of Germany.
CTS EVENTIM has teamed up with France Billet to provide ticketing software and related services for the 2024 Olympic and Paralympic Games in Paris. The agreement was signed in April 2022. The Group expects the contribution to revenue to be in the double-digit millions.
About CTS EVENTIM
CTS EVENTIM is one of the leading international providers of ticketing services and live entertainment. Before the outbreak of the coronavirus pandemic, around 250 million tickets per annum were marketed using the Company’s systems – be it through physical box offices, online, or from mobile terminals. Its online portals operate under brands such as eventim.de, oeticket.com, ticketcorner.ch, ticketone.it, and entradas.com. The EVENTIM Group also includes many concert, tour, and festival promoter companies for events like Rock am Ring, Rock im Park, Hurricane, Southside, and Lucca Summer. In addition, CTS EVENTIM operates some of Europe’s most renowned venues, for example the LANXESS Arena in Cologne, the K.B. Hallen in Copenhagen, the Waldbühne in Berlin, and the EVENTIM Apollo in London. CTS Eventim AG & Co. KGaA (ISIN DE 0005470306) has been listed on the stock exchange since 2000 and is currently a member of the MDAX segment. In 2021, against a backdrop of forced closures, cancellations, and restrictions on events as a result of the coronavirus pandemic, the Group generated revenue totalling €407.8 million in more than 20 countries. In 2019, the year before the outbreak of the pandemic, revenue was in excess of €1.4 billion.
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