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MUNICH (dpa-AFX) – After a further boost in profits in the third quarter, the organizer and ticket seller CTS Eventim still dares to make a concrete forecast for 2022. The management expects group sales of at least 1.7 billion euros this year, CTS announced on Monday in Munich. The adjusted operating result (Ebitda) should reach at least 330 million euros. Both indicators are higher than expected by analysts on average. Investors reacted positively.
Most recently, the MDAX-listed share was up a good seven percent at EUR 51.45. It thus set course for the level of mid-September. It is thus continuing its recovery tour of the past few days, after falling to its previous low for the current year of EUR 40.32 at the end of September.
CTS has already achieved a large part of the announced results after nine months. As of the end of September, consolidated sales of over 1.4 billion euros and an operating result of 259 million euros are on the books.
In the past third quarter, CTS increased sales sixfold compared to the same period of the previous year, which was affected by corona, to EUR 694 million. Compared to the pre-Corona period in 2019, it was an increase of almost 84 percent. The event organization business grew particularly strongly, with sales increasing tenfold compared to last year. The volume in the ticket sales business more than doubled.
Normalized operating profit was 130 million euros – after 26 million a year earlier and 65 million in the third quarter of 2019. The company plans to publish the full quarterly report on November 17./mis/lew/mne/
Leverage must be between 2 and 20
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