Added to YB: 2026-08-27
Pitch date: 2026-08-25
EVD.DE [neutral]
CTS Eventim AG & Co. KGaA
+1.11%
current return
Author Info
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Company Info
CTS Eventim AG & Co. KGaA, together with its subsidiaries, operates in the leisure events market in Germany, Italy, Switzerland, the United States, Austria, the United Kingdom, Spain, Netherlands, Finland, France, Denmark, Sweden, Norway, Chile, Brazil, and internationally.
Market Cap
EUR 5.8B
Pitch Price
EUR 58.60
Price Target
N/A
Dividend
2.37%
EV/EBITDA
8.49
P/E
18.95
EV/Sales
1.44
Sector
Entertainment
Category
growth
CTS Eventim (EVD Germany): Ticketing growth stays strong ahead of November strategy update
EVD.DE (earnings): Q2 rev +13% to €899m; Ticketing standout +26% to €254m on LA2028 Olympics (~4m Olympic + ~42m retail tickets), underlying ticketing still +MSD despite reduced Stage Entertainment contract (-4-5% of divisional rev). Live Ent +9% to €657m through two heat-driven festival cancellations. Profit lagged: adj EBITDA +6% to €106m, group margin -80bp to 11.8%; Ticketing EBITDA margin -600bp to 32.5% on mix (loss of higher-margin Stage, lower-margin LA2028) plus temporary Operational Excellence spend — mix/investment, not eroding platform economics. Mgmt kept 2026 outlook: slight rev + adj EBITDA growth. Next catalyst: 20 Nov CMD detailing venue-ownership push (more capital-intensive; wants clarity on returns/capex).
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