CTS EVENTIM: Stock soars to Record High after Forecast Upgrade

On Thursday, CTS EVENTIM sparked positive sentiment with excellent financial results and an upgraded forecast. The company’s stock surged in response.

The ticketing and concert promotion company, CTS EVENTIM, released its figures for the past quarter on Thursday. As a result, the stock of the Munich-based MDAX-listed company jumped significantly, recently up by over 8%. At one point, the stock hit a new record high of €91.15.

Entertainment Company on a Growth Path

This year, the company has already hosted several high-revenue events, including performances by Bruce Springsteen and Italian rapper Ultimo. CTS EVENTIM also successfully kicked off this year’s festival season with events like Rock am Ring, Rock im Park, Hurricane, Southside, and Nova Rock. According to the company, ticket presales for next year’s festivals are also off to a strong start, signaling continued positive growth.

In 2024, CTS EVENTIM was responsible for ticketing for the Olympic and Paralympic Summer Games in Paris. Following the successful completion of this project, the Munich-based company was also contracted as the ticketing partner for the Olympic and Paralympic Games in 2026 and 2028.

The company’s revenue in the reporting period increased by 21.2% compared to the same quarter last year, reaching €793.6 million. This marks a significant acceleration in growth compared to the first quarter’s 11.6% increase. The company’s adjusted EBITDA grew by 23.3% to €110.0 million.

CTS EVENTIM Raises Annual Forecast

Due to the strong second quarter, management has raised its outlook for the full year. Previously, a „moderate“ increase in EBITDA was expected, but now a „significant“ increase compared to the previous year is anticipated. „Growth and earnings have developed excellently in the second quarter of 2024 as well. As announced, we will continue to grow both organically and through successful acquisitions this year“, said CEO Klaus-Peter Schulenberg.

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