MUNICH (dpa-AFX) – After a significant boost in profits in the first half of the year, the organizer and ticket seller CTS Eventim is optimistic about a significant recovery from the corona pandemic. “The powerful restart of cultural events and live events makes us very optimistic that after two very difficult years our industry has finally reached a turning point for the better,” said CEO Klaus-Peter Schulenberg when presenting the interim report on the first half of the year on Wednesday in Munich according to the announcement. However, significantly increased costs, a lack of staff, the threat of energy shortages and uncertainty about further corona developments are reminders that the crisis is not over for the battered events industry. The CTS management still cannot bring itself to make concrete forecasts for sales and earnings.
The management continues to justify its reluctance with possible waves of infection from autumn and possible effects of the Russia-Ukraine war on the European area. However, if there are no significant burdens for the reasons mentioned above, a significantly higher result than in the previous year is expected, it said.
In the first half of the year, CTS Eventim generated sales of more than 734 million euros, a good eleven times as much as in the same period of the previous year, which was characterized by the lockdown. Before interest, taxes, depreciation and special effects (adjusted Ebitda) there was a profit of 129 million euros after a good 79 million a year earlier. The bottom line is that the shareholders made a profit of 66 million euros. That is far more than twice as much as in the first half of 2021./mne/mis
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