CTS Eventim increases profit disproportionately in the 1st quarter
The ticket marketer CTS Eventim increased its profits in the first quarter at a much higher rate than revenue.
As the company announced, revenue climbed by 12 percent to 409 million euros. Meanwhile, adjusted EBITDA rose by a good third to 92 million euros. The corresponding margin reached 22.6 percent after 18.5 percent in the previous year. At the bottom line CTS 0.70 euros per share, an increase of around 59 percent.
"In the first quarter, CTS Eventim not only continued to grow dynamically in operational terms, but also achieved considerable success with several contracts awarded for major sporting events," said CEO Klaus-Peter Schulenberg according to the press release. "These will provide positive impetus for the company's development in the medium and long term."
The company confirmed its outlook for the current year.
Source:
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