Q2 Financials And Business Performance

CTS Eventim Reports Accelerated Growth in Q2

Q2 Financials and Business Performance

CTS Eventim, a leading ticket distributor and event promoter, has announced robust growth in its second-quarter financial results. The company's revenue increased by 24.2%, reaching €469.8 million, while its operating result soared by 45.5% to €146.7 million.

The growth was driven by strong demand for live events and a recovery in the entertainment industry. CTS Eventim sold a total of 23.4 million tickets in Q2, representing a 22.1% increase over the same period last year.

The company's international business also performed well, with revenue increasing by 30.5% in the quarter. CTS Eventim's largest markets, Germany and the UK, continue to be major contributors to its growth.

Outlook and Forecast

Based on its strong Q2 performance, CTS Eventim has increased its full-year growth forecast. The company now expects revenue to increase by 15-20% in 2023, with an operating result in the range of €320-350 million.

CTS Eventim's CEO, Klaus-Peter Schulenberg, expressed optimism about the company's future prospects: "We are pleased with our strong performance in the first half of the year, which reflects the resilience of the live entertainment industry. We are well-positioned to capture the growing demand for live events and continue to drive profitable growth."

Upcoming Events and Initiatives

CTS Eventim has a busy schedule for the remainder of the year, with several major events and initiatives planned. These include:

• The launch of a new digital ticketing platform
• The acquisition of several live entertainment companies
• The expansion of its international footprint into new markets

The company's continued investment in innovation and growth initiatives is expected to further strengthen its position as a leader in the live entertainment industry.