Investing.com -- Shares of CTS Eventim AG (ETR:EVDG) & Co KGaA (ETR:EVD) were seen trading modestly lower during Thursday’s morning session despite the company reporting significant growth in both its Ticketing and Live Entertainment segments for the year 2024.
The Ticketing segment experienced a 22.7% increase in sales to €879.9 million, and its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose by 21.1% to €416.5 million.
In the Live Entertainment segment, CTS (NYSE:CTS) Eventim saw revenue climb to €1.971 billion, marking a 17.6% rise, with adjusted EBITDA increasing by 24.4% to €125.6 million. This growth is indicative of a strong recovery and expansion in the company’s operations, reflecting a positive trend in the entertainment industry.
The company also announced its intention to distribute a dividend of €1.66 per share, which is an increase from the previous year’s €1.43 per share. This decision to pay out 50% of the net income as a dividend underscores the company’s confidence in its financial stability and commitment to providing shareholder value.
Analysts have taken note of the company’s performance, with a statement from Jefferies highlighting the improvement in margins.
"Results indicate that the adj. EBITDA margin rose by nearly half a percentage point, even in the face of ongoing upward pressure on infrastructure, personnel, and fee costs," according to Jefferies.
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