CTS Eventim Stock: Shares Hit Record High on Strong Results

CTS Eventim, the prominent ticket retailer and concert promoter, has achieved a significant milestone as its stock reached an all-time high of €102.15 in pre-market trading on Tuesday, marking a 1.7% increase. This impressive performance extends the company's robust momentum in 2024, with shares already gaining 25% since the year's beginning. The surge follows the release of preliminary financial results that substantially exceeded analyst expectations, highlighted by a remarkable 19.1% revenue increase to €2.81 billion. The company's adjusted EBITDA demonstrated even stronger growth, climbing 21.9% to reach €542.2 million.

Segment Performance Drives Growth

The company's success was propelled by outstanding performance across both core business segments. The ticketing division recorded a substantial 22.7% revenue increase to €879.9 million, with its adjusted EBITDA rising 21.1% to €416.5 million. Simultaneously, the live entertainment segment showed impressive growth, with revenue expanding by 17.6% to €1.971 billion and adjusted EBITDA surging 24.4% to €125.6 million. These strong results have reinforced investor confidence in the company's business strategy, with market analysts maintaining optimistic outlooks for continued growth.