CTS Eventim drops on 'mixed' Q2, 'disappointing' margins
BUZZ-CTS Eventim drops on 'mixed' Q2, 'disappointing' margins ** Shares in CTS Eventim EVDG.DE slide about 5% after the German ticketing firm posted "mixed" Q2 results
** A local trader says report is "mixed" with better sales but "rather sluggish" earnings growth
** This resulted in disappointing margins, mainly due to significant pressure in the high-margin Ticketing segment, the trader adds
** CTS Eventim's Q2 revenue rises 13% y/y to €899.3 million ($1.1 billion), with adjusted EBITDA up 6.2% to €106.4 million, resulting in an adjusted EBITDA margin of 11.8%
** The stock sits at the bottom of the STOXX 600 index .STOXX
($1 = 0.8549 euros)
(Reporting by Anastasiia Kozlova)
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