Reside occasions and ticketing firm CTS Eventim has reported a 19.1% year-over-year improve in income and the same leap in adjusted EBITDA, pushed by each natural development and the mixing of a number of acquisitions in This autumn 2024.
For calendar 2024, the Bremen, Germany-headquartered firm reported report excessive income of EUR €2.809 billion, or USD $3.04 billion on the common alternate fee for 2024.
Adjusted EBITDA rose 21.9% YoY to €542.2 million ($586.8 million), and the adjusted EBITDA margin grew to 19.3%, from 18.9% within the prior yr.
“Rising demand, natural development, ongoing synergies and a profitable worldwide acquisition coverage are the pillars of our sturdy development,” CEO Klaus-Peter Schulenberg stated.
CTS Eventim, which describes itself because the number-one reside occasions and ticketing firm in Europe, and quantity two worldwide (behind Reside Nation), stated it consolidated plenty of current acquisitions into its earnings in This autumn 2024.
Maybe most notably, that features the addition of See Tickets – a distinguished ticketing operation within the UK and US – to its ledger. CTS took possession of See Tickets from Vivendi final yr when it acquired the French media big’s ticketing and pageant enterprise for €300 million (approx. $322.6 million).
Additionally added to the ledger had been two Latin American ticketing corporations – Chile’s Punto Ticket and Peru’s Teleticket – which CTS acquired in late 2023.
The corporate’s books additionally embody what’s now a majority stake in France Billet, the ticketing firm by which CTS Eventim took a minority stake in 2019. In late 2024, CTS acquired an extra 17% stake, giving it majority management.
Nonetheless, Germany stays the corporate’s largest market accounting for practically half of income, adopted by Italy, accounting for practically a fifth of income.
The corporate’s ticketing section noticed revenues leap 22.7% YoY to €879.9 million ($952.3 million), and the section’s adjusted EBITDA rose 21.1% YoY to €416.5 million ($450.8 million).
The corporate offered 103.4 million tickets on-line in 2024, up from 82.9 million the yr earlier than.
The reside leisure section noticed a 17.6% YoY improve in income, to €1.971 billion ($2.133 billion), and adjusted EBIDTA rose 24.4% to €125.6 million ($135.9 million), marking an almost half-percentage-point leap within the margin, “regardless of persistent upward stress on the price of infrastructure, personnel and charges,” the corporate stated.
On the reside leisure facet, CTS Eventim has been centered on rising its portfolio of venues (not not like rival Reside Nation). The corporate is touting the opening later this yr of Area Milano, which shall be Italy’s largest enviornment, in addition to an upcoming enviornment in Vienna, for which CTS gained the tender late final yr.
“The intention behind each tasks is for CTS EVENTIM to function the venues for the long run, thereby securing extremely profitable enterprise that provides a wealth of synergies with our different actions,” the corporate stated in its earnings report.
“Our involvement as an official ticketing companion for the Los Angeles 2028 Summer time Olympic and Paralympic Video games, in collaboration with AXS, and for the 2026 Milano Cortina Winter Olympic and Paralympic Video games, by our Italian subsidiary TicketOne, underscores our experience in large-scale tasks of world relevance.”
In sheer scale, CTS Eventim stays significantly smaller than world chief Reside Nation – but it surely narrowed that hole considerably in 2024. The US-headquartered Reside Nation reported revenues of $23.16 billion for 2024, greater than seven occasions the income of CTS Eventim, however income development at Reside Nation got here in at 3% YoY.
“We’ve ensured that – along with our applied sciences – our processes and enterprise fashions have gotten nice exports,” Schulenberg stated.
“They’re the premise on which we’ll combine future acquisitions much more rapidly, understand synergies even sooner and improve our success and attractiveness as a companion for worldwide acquisitions and fairness investments.”
Regardless of the sturdy development seen in 2024, the corporate is forecasting a “average” improve in income and adjusted EBITDA for 2025, noting a current report from PricewaterhouseCoopers (PwC) predicting 3.0% YoY development for Germany’s leisure and media trade in 2025.Music Enterprise Worldwide
