The ticket seller and concert organizer CTS Eventim
$EVD (+2,58%)
is increasing its dividend sharply and expects only moderate revenue and profit growth for the current year. Net profit after minority interests rose by 16 percent to 318.9 million euros in 2024, as the company announced in Munich on Thursday. The dividend is to be increased by the same percentage to 1.66 (1.43) euros.
In 2025, the highly profitable ticket business in particular is expected to boost sales: "Assuming stable overall economic development", moderate growth in sales and adjusted operating profit is expected in the Group. The number of individual tickets sold - 147.2 million in 2024 - is expected to increase significantly. In live entertainment, i.e. concerts, festivals and musicals, revenue and profits are expected to stagnate after last year's boom. CTS Eventim had already announced preliminary figures for 2024 in January: Revenue rose by 19 percent to 2.81 billion euros and adjusted EBITDA by 22 percent to 542.2 million.
Source: Handelsblatt