Half Year 2026 CTS Eventim AG & Co KgaA Earnings Call Transcript
Key Points
- Group revenue grew 17% to EUR1.5 billion in H1 2026, with adjusted EBITDA up 12.4% to EUR225 million, demonstrating continued profitable growth.
- Ticketing revenue grew 14% (nearly 20% on a like-for-like basis), with 81 million retail tickets sold, overcompensating for the Stage partner business change.
- Live Entertainment revenue surpassed EUR1 billion for the first time in H1, with adjusted EBITDA up significantly to EUR53 million and margin expansion to 5%.
- The LA28 Olympics partnership contributed positively, with a low to mid-double-digit million revenue in Q2 at 20-25% margins, and the second ticket drop concluded successfully.
- EPS grew 34% to EUR1.25, benefiting from a positive financial result of EUR20 million, driven by FX effects and operational momentum.
- Adjusted EBITDA margin declined to 14.9% from 15.5% due to a mix effect from higher Live Entertainment revenue share, which has structurally lower margins.
- Ticketing EBITDA growth was modest at 3.4%, impacted by temporary costs from the operational excellence program and the loss of the Stage partner business.
- The operational excellence program will continue to weigh on margins in H2 2026, with incremental costs expected to persist through the year.
- Live Entertainment margins remain volatile quarter-to-quarter, with Q2 flat due to timing effects, and the Unipol Dome ramp-up temporarily pressured venue margins.
- The company remains conservative on full-year guidance due to geopolitical uncertainty, and organic ticketing growth was only mid-single-digit, in line with a weaker market.
Good evening to everybody, and good morning to our participants from the United States. Welcome to CTS Eventim's Earnings Call for the first six months of the year 2026. Thank you very much for joining.
I'm William Willms, as I said, CFO of CTS Eventim, and I'm delighted to take you through our half year results today. On my side, as usual, is Marco Haeckermann, our Vice President, Investor Relations and Corporate Development and Strategy.
Hello, everyone.
Now before we dive into the details, please allow me a brief word on the structure of the call. Today, we will focus on our H1 2026 financial performance. I will walk you through the headline numbers, segment results and certain key P&L drivers. At
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