MUNICH, Germany (CelebrityAccess) — German ticketing and live events company CTS Eventim announced results that revealed the company has rebounded since the pandemic, with its Q3 results outpacing the company’s final pre-pandemic quarter in Q3 2019.
According to CTS Eventim, sales for the third quarter of 2022 increased to €694 million Euros, up substantially from the 115 million the company reported in the third quarter of 2021 and the €378 million Eventim reported in Q3 2019.
Normalized EBITDA for the quarter was €130 million, up sharply from 2021 when CTS Eventim reported €26 million during the same period.
Eventim’s ticketing operation generated revenues €137 million, doubling Q3 2021 when they reported €61 million and 29% ahead of Q3 2019 when ticketing produced revenue of €107 million. Normalized EBITDA was €65 million in the third quarter of 2022, up from €27 million In Q3 2021.
Live Entertainment operations produced revenue of €563 million during the quarter, up substantially from last year’s Q3 when CTS Eventim reported €56 million. Normalized EBITDA was 66 million in the third quarter of 2022 vs a loss of €1 million in Q3 2021.
For the full year, Eventim is predicting consolidated sales of at least €1.7 billion and normalized EBITDA of at least €330 million, based on current trends with no significant interruptions in business before the end of the year.
