CTS Eventim breaks €1 billion full-year revenue ceiling in new record
The world’s second-largest live events promoter, CTS Eventim, reported full-year earnings for 2017 last week, managing to break previous revenue records by delivering €1 billion for the first time. In 2017, revenue totaled €1.034 billion – a 24.6% rise year over year from 2017’s €829.9 million. This growth was driven by “a strong performance in both ticketing and events,” though the latter “accounted for the lion’s share of growth.”
CTS Eventim’s share price has risen by 12% over the past 12 months
SOURCE: Yahoo Finance
Live entertainment grew by an incredibly 42.7% year on year to €439.2 million. The company said that this growth was boosted by “the strong growth of FKP Scorpio,” in which CTS is a majority stakeholder. It also saw a “greater number of tours and events attracting large audiences.” These included the New Horizons dance music festival at the Nurburgring with Alda Events.
Ticketing revenue also rose by a respectable 5.9% to €418.4 million, earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 5.3%, and consolidated net income was up by 19.3%. All of these figures are reported against the same period in the previous year.
Eventim’s CEO, Klaus-Peter Schulenberg, told investors: “We are absolutely delighted that this [€1bn] record is accompanied by a whole string of other positive developments. These include the growth of our online operations, our international expansion and the creation of new event formats like the New Horizons festival.”
The company also says it expects continued growth in revenues and EBITDA “assuming stable macroeconomic trends” in 2018.
Dominion holds CTS Eventim in its Global Trends Luxury Fund.
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