Quarter
CTS Eventim shocked with a slump in profits – share price sags
After a strong start of the year, the ticket marketer gets a headwind. Analysts had hoped for higher numbers – and the news on the stock exchange was also very bad.
At the ticket marketer and concert organizer CTS Eventim, the business runs unexpectedly after a strong start of the year. Inquiring income from their own concerts and the expensive integration of acquired companies had the profit melted by almost a quarter in the second quarter. The news was very bad on the stock exchange.
Shortly after the start of the trade in Frankfurt, the CTS share had sagged since November 2024. Most recently, it was around 18 percent in the red and was a clear bottom in the MDAX, the index of medium-sized values. At the same time, the paper practically lost its price gains in the current year. Most recently, the share cost around 82 euros as much as at the turn of the year after the course in May climbed to more than 114 euros.
“Challenging overall economic development”
The bottom line was that the ticket marketer earned almost 44 million euros in the second quarter, over 24 percent less than a year earlier, as the company said. The operating result adjusted by special items fell by around 9 percent to 100.2 million euros. Analysts had expected a significant increase in both values.
Although sales from ticket sales increased by more than 15 percent to a good 202 million euros, the proceeds from the group’s own events decreased by 4.5 percent to around 603 million euros. The turnover of sales stagnated across the group at almost 796 million euros. Management reported “challenging overall economic development”.
dpa
Source: Stern
