Brief: CTS Eventim H1 Consolidated Revenue At EUR 1.202 Bln

CTS Eventim AG & Co KGaA

22/08/2024 07:38

Aug 22 (Reuters) - CTS EVENTIM AG & CO KGAA  EVDG.DE :
    * ACCELERATED GROWTH IN THE SECOND QUARTER
    * EXCELLENT YEAR-ON-YEAR GROWTH OF 23.3% IN ADJUSTED EBITDA
IN Q2
WAS EVEN HIGHER THAN CORRESPONDING REVENUE GROWTH OF 21.2%.
    * EXECUTIVE BOARD IS RAISING ITS GUIDANCE FOR 2024 AND
EXPECTS A
SIGNIFICANT INCREASE IN ADJUSTED EBITDA FOR CTS GROUP
    * CONSOLIDATED REVENUE FOR Q2 OF 2024 CAME TO EUR 793.6
MILLION, A
21.2% INCREASE ON PRIOR-YEAR PERIOD
    * ADJUSTED EBITDA FOR GROUP IS GROWING AT AN EVEN FASTER
RATE THAN
REVENUE AT 23.3% AND AMOUNTED TO EUR 110.0 MILLION IN Q2
    * FOR FIRST SIX MONTHS, CONSOLIDATED REVENUE CAME TO EUR
1.202
BILLION
    * FOR FIRST SIX MONTHS, ADJUSTED EBITDA CAME TO EUR 202.2
MILLION
(+28.9%)
    * PLENTY OF SUMMER SHOWS, OPEN AIR EVENTS AND A VARIETY OF
FESTIVALS ARE DUE TO TAKE PLACE IN Q3, WHICH WILL PROVIDE A
FURTHER BOOST FOR LIVE ENTERTAINMENT SEGMENT
    * TICKETING BUSINESS IS TRADITIONALLY AT ITS STRONGEST IN Q4
THANKS TO CHRISTMAS TRADE AND ADVANCE TICKET SALES FOR NEXT YEAR
OF EVENT HIGHLIGHTS
    * EXECUTIVE BOARD IS OPTIMISTIC ABOUT BUSINESS PERFORMANCE
IN
SECOND HALF OF YEAR

Source text for Eikon:  ID:nEQ2HxPyRa 
Further company coverage:  EVDG.DE 

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