CTS Eventim Q1 Revenue Jumps 23%: Ticketing and Live Entertainment
CTS Eventim Q1 Revenue Surges
Germany-based ticketing and live entertainment company CTS Eventim reported a 23% year-on-year increase in Q1 revenue to EUR 613.5 million. Adjusted EBITDA rose 18.5% driven by the Live Entertainment segment.
Growth Drivers
The strong performance was fueled by successful tours and events, particularly in the US and Germany. The new Unipol Dome in Milan contributed with Olympic and Paralympic ice hockey tournaments attended by over 400,000 fans. Ticketing revenue and adjusted EBITDA grew year-on-year, with underlying growth of about 6% when adjusted for partnership changes.
Analyst Ratings and Price Target
The average analyst rating on the shares is 'buy', with 13 'strong buy' or 'buy', 2 'hold', and no 'sell' recommendations. Wall Street's median 12-month price target is EUR 92.00, about 60.4% above the May 27 closing price of EUR 57.35. The stock currently trades at 17 times next 12-month earnings, down from a P/E of 20 three months ago.
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