CTS Eventim ‘Optimistic’ About Its Prospects After Full Year Results For 2021 Hint At The Road To Recovery

MUNICH, Germany (CelebrityAccess) — German ticketing and occasions firm CTS Eventim posted their monetary outcomes for 2021 with income up sharply from the earlier yr.

In response to CTS Eventim, the corporate posted consolidated annual income of €407.8 million in 2021, up by 58.8 p.c from the €256.8 million they realized throughout the earlier yr.

The outcomes have been pushed by a resurgence in ticket gross sales with main excursions by artists akin to Ed Sheeran, Genesis and Udo Lindenberg among the many bestsellers.

Normalized earnings earlier than curiosity, taxes, depreciation, and amortization rose to €208.0 million in 2021, recovering from a lack of €2.9 million throughout the earlier yr. The corporate attributed the positive factors to improved working enterprise and in depth authorities assist packages launched in Germany and different international locations. The most important part of this assist, in response to the corporate, got here within the type of €157 million granted by the German authorities, of which round €100 million was attributable to the 2020 November/December Help below the financial assist program in reference to coronavirus.

The corporate additionally revealed the outcomes for the fourth fiscal quarter of 2021, with consolidated income of €227.8 million, in contrast with €28.1 million within the equal interval of the earlier yr. Normalized EBITDA for the quarter amounted to €102.6 million towards €14.8 million in 2020.

“The variety of occasions on supply in our ticketing programs is rising with every new day, a transparent signal of rising confidence inside the occasions business, and we anticipate that festivals and large-open air occasions will start to renew from the second quarter onwards, after an enforced break of two years,” mentioned Klaus-Peter Schulenberg, CEO of CTS Eventim. “These monetary outcomes present additional proof of the power and monetary stability of the Group. 2021 was additionally a yr wherein key strategic initiatives strengthened our worldwide place.”