The German company CTS Eventim is one of the leading international providers of ticketing services and live entertainment. “With our full-scale cost management from the very beginning of the crisis and thanks to our prudent economic management in the years before, we see ourselves as superbly positioned when live shows return to concert halls and our business revives,” said CEO Klaus-Peter Schulenberg. “In view of the increasing availability of vaccines and rapid tests, and the progress of vaccination campaigns, there are good prospects that our industry can start getting back to normal over the next few months.”
Revenues in 2020 fell 82.2 percent year-on-year to 256.8 million euros as compared to 1.443 billion euros in 2019. Normalized EBITDA amounts to -2.9 million euros in relation to 286.5 million euros in 2019, because of rigorous cutbacks, income from insurance compensation and government grants to cover payroll and overhead costs, also and especially in countries outside Germany.
Revenues in the segment Ticketing were 73.7 percent lower year-on-year, at 126 million euros in 2020 as compared with 481.6 million euros in 2019. Revenues in the segment Live Entertainment melt down to 136.8 million euros in 2020, 86.1 percent lower year-on-year than in 2019. Last year’s revenues were 985.8 million euros.
“Never at any stage did we experience any kind of shock paralysis,” said Klaus-Peter Schulenberg. As a direct response to the hazards, CTS Eventim adjusted its cost structure and implemented promoter voucher schemes to safeguard further liquidity. At the end of 2020, the company reported 741.2 million euros in cash and cash equivalents. Due to the major uncertainties and the coronavirus pandemic’s impacts on the 2021 financial year, the management didn’t provide any forecast for the entire year.