CTS Eventim Q3 Earnings: Revenue Up 4% Despite ‘Challenging Economic Conditions’ in Germany

CTS Eventim, Europe’s largest concert promoter and ticketing service, posted revenue and earnings gains in the third quarter despite what it called “challenging economic conditions” in its home market, Germany. Companywide adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 13.8% to 137.3 million euros ($161 million) on revenue of 854.2 million euros ($999 million), up 3.5% from the prior-year period. 

“Our performance in the third quarter illustrates once again that we are not only growing but also creating long-term value,” CEO Klaus-Peter Schulenberg said in a statement. “In doing so, we are benefitting from continually modernising our technological infrastructure, significantly optimising our processes and making progress with the integration of our acquisitions.”

The company attributed the improvement to cost management and “growing synergies” with recent acquisitions. In 2024, CTS Eventim acquired Vivendi’s festival business, including Junction 2 in the United Kingdom and Garorock in France, and ticketing company See Tickets. The two acquired businesses had a combined revenue of 137 million euros ($148 million) in 2023. 

In the live entertainment division, revenue rose 5.5% to 663.0 million euros ($775 million) while adjusted EBITDA rose 27.0% to 46.3 million euros ($54 million) and adjusted EBITDA margin — adjusted EBITDA as a percentage of revenue — rose to 7.0% from 5.8% in the year-ago period. 

The ticketing division’s revenue rose 2.1% to 211.0 million euros ($247 million). Last year’s quarter was boosted by non-recurring revenue from the 2024 Olympic Games in Paris. Adjusted EBITDA improved 8.1% to 91.0 million euros ($106 million), and adjusted EBITDA margin climbed to 43.1% from 40.7% a year earlier. 

Based on the third quarter results, CTS Eventim reiterated its full-year forecasts of “moderate” growth in both revenue and adjusted EBITDA.