CTS Eventim AG & Co. KGaA (CEVMF) (FY 2024) Earnings Call Highlights: Record Revenue and ...
Adjusted EBITDA Growth: Rose by almost 22% year on year.
EBIT Growth: Increased by 9.5% year on year.
Online Ticket Sales: Increased by almost 25% without See Tickets numbers.
Tickets Sold Outside Germany: Grew by 29.2% year on year.
Dividend Proposal: EUR1.66 per share, a record dividend.
EBITDA Margin: Increased to 19.3%.
Q4 Revenue Growth: Up 29% year on year.
Q4 Adjusted EBITDA Growth: Increased by 40% year on year.
Q4 EBITDA Margin: 28.1%.
Ticketing Revenue: EUR880 million for the year, with EUR315 million in Q4.
Adjusted EBITDA for Ticketing: EUR417 million for the year, with EUR176 million in Q4.
Retail Tickets Sold: 147 million in 2024, including See Tickets.
Gross Transaction Value (GTV): EUR7.7 billion in 2024.
Live Entertainment Revenue: Nearly EUR2 billion, with EUR477 million in Q4.
Live Entertainment Adjusted EBITDA: EUR126 million for the year, with EUR44 million in Q4.
Venue Operations Profit: Slightly more than EUR50 million, with an EBITDA margin of around 50%.
Greenhouse Gas Emissions: Approximately 1.4 million tonnes of CO2 in 2024.
Warning! GuruFocus has detected 2 Warning Sign with STU:IRV.
Release Date: March 27, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
CTS Eventim AG & Co. KGaA (CEVMF) reported strong double-digit growth in both revenues and EBITDA for 2024, driven by all elements of their value chain including Ticketing, Live Entertainment, and Venue Management.
The company proposed a record dividend of EUR1.66 per share, continuing their policy of distributing 50% of reported group net profit.
The acquisition of See Tickets and the consolidation of France Billet have strengthened CTS Eventim's market position, particularly in the UK, US, and France.
Online ticket sales increased by almost 25%, with significant growth in international markets, indicating strong global demand.
The company introduced a new metric, Gross Transaction Value (GTV), which increased from EUR5.6 billion in 2023 to EUR7.7 billion in 2024, reflecting higher average ticket prices and fees.
EBIT growth was only 9.5% due to non-recurring effects from the previous year, such as compensation settlements and corona-related compensations.
Despite strong overall performance, the company remains cautious about the Live Entertainment segment due to ongoing cost pressures and a high basis from the previous year.
The US market showed flat revenue contribution, indicating challenges in expanding their presence despite efforts and resources allocated.
Mobile ticket penetration remains low at around 8%, limiting potential monetization opportunities through direct consumer engagement.
The financial results have been volatile over the past few years, with uncertainties in predicting future financial income and expenses.
Q: Did the online tickets for 2024 include France Billet for December? A: Yes, we did. - Marco Haeckermann, Vice President - Corporate Development and Strategy
Q: How does the agenda look for Q1, considering major events like Lady Gaga and Adele? A: Last year, we had major onsales like ACDC and Adele. This year, we have many mid-sized onsales but nothing that spikes out. It will be a good quarter, but not as standout as last year. - Holger Hohrein, Group Chief Financial Officer
Q: Is CTS Eventim focusing more on venues, and can we expect more venue developments like the Vienna and Milan Arenas? A: Owning venues is not a primary objective. We may develop and operate venues when opportunities arise, but it's not a shift in our business model. - Holger Hohrein, Group Chief Financial Officer
Q: What are your thoughts on StubHub's IPO and its potential impact on the European market? A: The secondary market in Europe is quite regulated, unlike the US. We don't see any imminent risk from StubHub's IPO affecting us in Europe. - Marco Haeckermann, Vice President - Corporate Development and Strategy
Q: Can you provide some numbers on France Billet and the synergies expected from the acquisition? A: We see room for synergies, potentially improving the EBITDA margin by around 10 percentage points compared to the segment average. - Holger Hohrein, Group Chief Financial Officer
Q: What is the current share of mobile tickets, and what are the financial implications of higher mobile penetration? A: The mobile share is around 8%. Increased mobile penetration would allow direct access to ticket holders, offering better customization and potentially reducing costs. - Holger Hohrein, Group Chief Financial Officer
Q: What is the growth plan for the US market, and why hasn't it grown significantly in 2024? A: We are focusing more on Ticketing in the US. The content side is well-positioned, and the focus will be on profitability and economies of scale. - Marco Haeckermann, Vice President - Corporate Development and Strategy
Q: What is the outlook for 2025, and what does "moderate" growth mean? A: Moderate growth means an internal increase of between 5% to 15%. We aim for EUR3 billion in revenues and EUR600 million in EBITDA by the end of the year. - Holger Hohrein, Group Chief Financial Officer
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
This article first appeared on GuruFocus.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 days ago
- Yahoo
Polestar to Build SUV in Europe by 2028 to Offset Tariffs
Polestar (PSNY, Financials) said Thursday it will build its upcoming Polestar 7 sport utility vehicle at Volvo Cars new factory in Slovakia, aiming to lower its exposure to rising European and U.S. tariffs on China-made electric vehicles. Warning! GuruFocus has detected 6 Warning Signs with PSNY. The company said it signed a memorandum of understanding with Volvo Cars, both of which are controlled by Chinas Geely. Volvos Kosice plant is expected to begin production in 2026 and will have an annual capacity of 250,000 vehicles. Polestar, which has yet to reach profitability, faces 28.8% tariffs on China-made EVs shipped to Europe and more than 100% on those sent to the United States. Most of its production currently takes place in China through Geely and Volvo. The firm already assembles some Polestar 3 units in South Carolina and will export the Polestar 4 to the United States from South Korea later this year. However, it stopped accepting U.S. orders for the China-built Polestar 2 earlier in 2025. Polestar said diversifying production to Europe reflects a broader strategy to manage geopolitical trade friction and improve cost competitiveness. Investors will be watching how these shifts affect margins and delivery timelines as the company works toward profitability. This article first appeared on GuruFocus.
Yahoo
4 days ago
- Yahoo
Why Lucid Group Stock Is Jumping Today
July 3 - Lucid Group (NASDAQ:LCID) stock surged about 5% Thursday morning after the EV maker reported a strong jump in second?quarter deliveries. Warning! GuruFocus has detected 3 Warning Signs with LCID. The company produced 3,863 vehicles in Q2 and delivered 3,309 units, just shy of analysts' 3,611 consensus. By comparison, Lucid produced 2,110 cars and shipped 2,394 in Q2 of 2024. Over the first half of 2025, Lucid's production climbed to 6,075 vehicles, while deliveries reached 6,418. The automaker is set to report its Q2 earnings on Aug. 5, after topping EPS estimates in each of the last three quarters and beating revenue forecasts in three of four. In premarket trading, LCID shares edged up about 1%, even as the stock remains down more than 32% year to date. Short interest stands at roughly 12.6% of the float, underscoring lingering bearish bets. Investors will be watching whether Lucid can sustain its delivery momentum and narrow losses when Q2 results land in early August. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Yahoo
Datadog's S&P 500 Debut Sends Shares Soaring
July 3 - Datadog (NASDAQ:DDOG) shares climbed about 9% in after?hours trading on Wednesday, jumping to $149.70, following news that the cloud?monitoring specialist will join the S&P 500. This move comes as part of a quarterly rebalance by S&P Dow Jones Indices. Warning! GuruFocus has detected 4 Warning Sign with DDOG. The index provider said on July 2 that Datadog will replace Juniper Networks (NYSE:JNPR), recently acquired by Hewlett?Packard Enterprise (NYSE:HPE), effective before the market opens on July 9. Inclusion in the S&P 500 often drives demand from passive funds and institutional investors, boosting liquidity and visibility for added names. During regular trading Wednesday, Datadog's stock had already inched up 2%, closing at $135.01. The after?hours surge underscores market sentiment that passive flows and benchmark tracking funds are likely to pour fresh capital into DDOG ahead of the formal switch. With large?cap tech names under pressure recently, Datadog's entry into the S&P 500 may offer a timely lift. Investors will be watching closely as the July 9 rebalancing approaches. Based on the one year price targets offered by 38 analysts, the average target price for Datadog Inc is $139.50 with a high estimate of $200.00 and a low estimate of $115.00. The average target implies a upside of +3.33% from the current price of $135.01. Based on GuruFocus estimates, the estimated GF Value for Datadog Inc in one year is $183.78, suggesting a upside of +36.12% from the current price of $135.01. Gf value is Gurufocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. For deeper insights, visit the forecast page. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
