CTS Eventim benefited from a solid ticket demand and acquisitions in the first quarter.
Sales and surgical profits increased significantly. In the course of the year, the ticket marketer and tour organizer listed in the MDAX expects further efficiency and synergy effects.
Sales rose by 22 percent to 499 million euros. The adjusted result before interest, taxes and depreciation (EBITDA) increased by 8.9 percent to 100 million euros. The corresponding margin dropped to 20.1 percent from 22.6 percent in the previous year. The adopted companies See Tickets and France Billet were consolidated for the first time.
In the ticketing segment, sales increased by 16.9 percent to 214 million euros, which adjusted EBITDA rose by 6.6 percent to 88.7 million euros, which resulted in a margin of 41.5 percent. There was positive impulses, among other things, from the pre -sale for the Olympic and Paralympic Winter Games in Milan and Cortina 2026.
In the Live Entertainment segment, sales rose by almost a quarter to 292 million euros. Adjusted EBITDA climbed by almost 30 percent to 11.6 million euros. The margin was 4.0 percent.
At the end of March, the group initially did not provide any information. At the time, he promised a “moderate” increase in sales, adjusted EBITDA and EBIT for the current year. With sales of 2.8 billion euros, CTS achieved an adjusted EBITDA of 542 million euros last year.
CTS Eventim share with Burglary After quarterly
The stocks of CTS Eventim reacted on Thursday with a significant drop in price to the quarterly figures of the ticket marketer and concert organizer. At times, you will write down 11.7 percent lower at EUR 99.45 in Xetra trading. Adjusted for the dividend discount, the minus was over 10 percent.
In one fell swoop, the CTS papers corrected around half of the profit series since the intermediate low of April 7, within which the course has increased on Tuesday to the record high of 114.10 euros. They also fell to the 100-day line, which is considered an indicator of medium to long-term trend. In the previous course of the year, the papers with a price gain of around 19 percent are somewhat better than the MDAX (+17 percent).
Thanks to two takeovers and good demand, CTS Eventim has grown significantly in the first quarter. The bottom line was that the Munich had to accept a slump in profits. The surplus dropped by almost a third because smaller participations in other societies were less off -warming and currency effects pressed long -term demands. CEO Klaus-Peter Schulenberg still sees the company on course on its goals.
Contrary to the harsh market reaction, the tenor among the analysts was mostly positive. In a first reaction, JPMorgan expert Lara Simpson spoke of a mixed annual start compared to the high market expectations. While sales were strong, the adjusted operational result (EBITDA) disappointed. In the medium term, she sees potential for the stock. The US bank JPmorgan left the classification for CTS Eventim to “Overweight” with a price target of 114 euros.
Jefferies analyst Henrik Paganetty and his colleague Volker Bosse from Baader Bank attested the company a strong first quarter. Bosse emphasized that the statements about the further course of the year testify to confidence. Baader Bank left the classification for CTS Eventim on “Add” with a price target of 112 euros. CTS is currently rated on the stock exchange, despite the strong drop in the price, according to the figures at just under ten billion euros. The largest shareholder with a share of almost 40 percent is a company founder and CEO Klaus-Peter Schulenberg.
Dow Jones / DPA-AFX / DPA-AFX broker