BREMEN, Germany (CelebrityAccess) — CTS Eventim, the German live events and ticketing company, announced a strong start during the first fiscal quarter of 2024.
According to the company’s quarterly financial filing released on Thursday, CTS Eventim generated consolidated revenue of EUR 408.7 million during Q1, up by 11.6% from the same period in 2023.
During the same period, EBITDA, spiked to EUR 408.7 million, up an impressive 36.3% year-over-year, while the adjusted EBITDA margin for the first quarter was up by 22.6%.
Revenue from Eventim’s ticketing business came in at EUR 182.8 million, up by 23.3% year on year. Adjusted EBITDA rose by 24.9% to EUR 83.3 million and the adjusted EBITDA margin improved 45.5% year-over-year.
The company attributed results in the ticketing segment primarily to a jump of 4.7 million in the number of tickets sold online during the first quarter.
CTS Eventim’s live business also saw gains, generating revenue of 234.4 million in the first quarter of 2024, up by 4.8%. EBITDA for the segment improved by 8% during the quarter to EUR 8.9 million while the segment’s adjusted EBITDA improved by 3.8% in Q1
According to Eventim, the company’s live segment performance was primarily due to an increased number of events in the first quarter of 2024 as well as the effects of consolidation.
“CTS Eventim’s operating business continued to grow rapidly in the first quarter, and the Company also won several substantial tenders for major sporting events. These contracts will enhance the Company’s performance both in the medium and the long term. The ticketing for the Olympic and Paralympic summer games in Los Angeles 2028 is an additional boost for our entry into the North American market, which has already got off to a successful start,” stated CTS Eventim CEO Klaus-Peter Schulenberg.
