MUNICH, Germany (CelebrityAccess) — German ticketing and events company CTS Eventim posted their financial results for 2021 with revenue up sharply from the previous year.
According to CTS Eventim, the company posted consolidated annual revenue of €407.8 million in 2021, up by 58.8 percent from the €256.8 million they realized during the previous year.
The results were driven by a resurgence in ticket sales with major tours by artists such as Ed Sheeran, Genesis and Udo Lindenberg among the bestsellers.
Normalized earnings before interest, taxes, depreciation, and amortization rose to €208.0 million in 2021, recovering from a loss of €2.9 million during the previous year. The company attributed the gains to improved operating business and extensive government aid programs introduced in Germany and other countries. The biggest component of this aid, according to the company, came in the form of €157 million granted by the German government, of which around €100 million was attributable to the 2020 November/December Assistance under the economic aid program in connection with coronavirus.
The company also revealed the results for the fourth fiscal quarter of 2021, with consolidated revenue of €227.8 million, compared with €28.1 million in the equivalent period of the previous year. Normalized EBITDA for the quarter amounted to €102.6 million against €14.8 million in 2020.
“The number of events on offer in our ticketing systems is increasing with each new day, a clear sign of growing confidence within the events industry, and we anticipate that festivals and large-open air events will begin to resume from the second quarter onwards, after an enforced break of two years,” said Klaus-Peter Schulenberg, CEO of CTS Eventim. “These financial results provide further evidence of the strength and financial stability of the Group. 2021 was also a year in which key strategic initiatives strengthened our international position.”
