HAMBURG, Germany (CelebrityAccess MediaWire) — German entertainment giant CTS Eventim has posted some strong Q2 results and reported an increase in revenue of 19% from same period in the previous year.
In the period from 1 January to 30 June 2009, the CTS Group generated EUR 249.0 million in revenue. Earnings per share increased to EUR 0.76 for the first half-year, compared to EUR 0.53 in the first half of 2008.
CTS reported a solid half-year in ticket sales with strong results in their high-margin Internet ticketing with sales of 5.7 million tickets, up by 55% from last year.
Their live sector was a bright spot for Eventim as well and the company posted EUR 183.4 million in revenue for HY1, up 12.8% from the same period in 2008.
CTS has been on the move in Europe and has expanded into a number of key markets through acqusitions including TicketOne in Italy and Lippupiste OY in Finland. They have indicated that this trend is likely to continue in the immediate future and recently announced that they are on the make for at least two more "market-leading" companies in the next couple of years.
"We want to continue to grow in Europe and that includes acquisitions," Eventim CEO Klaus-Peter Schulenberg told Bloomberg during a recent interview "In five years we want to have grown beyond Europe’s borders." – CelebrityAccess Staff Writers