CTS Eventim’s earnings slipped in the first half of the year due to “intense and persistent cost pressures” and the costs associated with integrating France Billet and See Tickets along with its U-Live companies, as announced by the company on Thursday (Aug. 21).

Mid-year consolidated revenue increased by 7.6% to a record 1.29 billion euros ($1.41 billion), but adjusted EBITDA fell by 0.8% to 200.5 million euros ($219 million). The adjusted EBITDA for live entertainment decreased by 26.1%, and the division’s adjusted EBITDA margin dropped to 3.8% from 5.3% in the previous year.

The reaction on the Frankfurt Stock Exchange was immediate: CTS Eventim’s share price fell by 17.2% at the start of trading on Thursday and closed at 82.55 euros ($95.88), marking a decline of 16.9%. 

As Europe’s largest concert promoter and ticketing company, CTS Eventim acquired See Tickets and a festival business from Vivendi in June 2024 for $327 million, and became a majority stakeholder in France Billet in December.

Although consolidated revenue for the second quarter rose by 0.3% to 795.6 million euros ($902 million), ticketing revenue surged by 15.4% to 202.1 million euros ($229 million), while the live entertainment division saw a decrease of 4.5% to 602.5 million euros ($683 million). Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 8.9% to 100.2 million euros ($114 million), primarily due to a decline of 39.7% in live entertainment’s adjusted EBITDA.

CTS Eventim’s live entertainment business encompasses 34 tour operators across 15 countries and includes festivals such as Rock am Ring and venues like Waldbühne in Berlin, Eventim Apollo in London, K.B. Halls in Copenhagen, and LANXESS arena in Cologne. Its extensive ticketing operations are strongest in Germany and extend throughout Europe, South America, and the U.S.

The executive board has maintained its guidance for 2025 — anticipating a “moderate” increase in adjusted EBITDA — but acknowledged that “the challenging macroeconomic picture constitutes a source of uncertainty.” While the costs associated with integrating France Billet and See Tickets have impacted first-half earnings, CTS Eventim expects “considerable synergy effects” that will provide “an additional boost to profit margins.”