CTS Eventim (EVD) Q4 2024 earnings summary

Executive summary

• Achieved strong double-digit growth in both revenues (+19.1%) and adjusted EBITDA (+22%) for 2024, driven by all business segments: ticketing, live entertainment, and venue management.

• Proposed a record dividend of EUR 1.66 per share, maintaining a 50% payout policy and an 18% long-term CAGR for dividends.

• Acquired See Tickets (consolidated from June 2024) and France Billet (majority stake, consolidated from December 2024), strengthening international presence.

Financial highlights

• Revenues increased by 19% year-over-year; adjusted EBITDA rose by 22%, with EBITDA margin reaching 19.3%.

• EBIT grew by 9.5% year-over-year, impacted by non-recurring effects in 2023 (e.g., car toll project compensation, corona-related compensations).

• Q4 2024 was a record quarter: revenues up 29% and adjusted EBITDA up 40% year-over-year, with a 28.1% EBITDA margin.

• Gross transaction value (GTV) reached EUR 7.7 billion in 2024, up from EUR 5.6 billion in 2023.

Outlook and guidance

• Positive outlook for 2025, expecting moderate increases (5%-15%) in revenues, EBITDA, and EBIT for the group and ticketing segment.

• Live entertainment segment guidance is more cautious due to high prior-year base and ongoing cost pressures, but still expects higher revenues and EBITDA.

• Management targets EUR 3 billion in revenues and EUR 600 million in EBITDA for 2025, in line with or above consensus.