MUNICH, Germany (CelebrityAccess) — German ticketing and live events company CTS Eventim AG & Co. KGaA reported robust growth across all business sectors in the fiscal year 2023, according to preliminary data.
According to CTS Eventim, the company recorded particularly strong performance in the fourth quarter of 2023, surpassing its previously revised full-year forecast announced in October.
For 2023, CTS Eventim reported that group sales soared by 22.5 percent to €2.359 billion in the during the fiscal year, compared to €1.926 billion in the previous year, marking a new record in sales.
The company attributed the strong results to the performance of its ticketing and live events segments.
The normalized Group EBITDA for 2023 reached €501.4 million, a notable increase of 31.9 percent from €380.1 million in the comparable period of the previous year.
In the ticketing segment, sales revenue surged to €717 million in 2023, a 32.5 percent increase from €541 million in the previous year. The normalized EBITDA for this segment reached €382.4 million, marking a significant 46.6 percent increase from €260.8 million in the previous year.
CTS Eventim’s live entertainment segment saw sales reach €1.677 billion in the 2023 financial year, an 18.9 percent increase from €1.410 billion in the previous year. The normalized EBITDA for this segment remained virtually unchanged at €119.1 million, compared to €119.2 million in the previous year.
The data includes €37.4 million in income directly attributable to CTS group companies, resulting from compensation from the federal government to the joint venture company autoTicket GmbH, Berlin. However, even when accounting for that, CTS Eventim can still chalk 2023 up as one of their most successful years.
The full annual report will be published on March 26, 2024.
