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Investing.com - Deutsche Bank (ETR:DBKGn) lowered its price target on CTS (NYSE:CTS) Eventim (ETR:EVD) to EUR109.00 from EUR117.00 while maintaining a Buy rating after the company’s second-quarter results missed expectations.
The German ticket seller and event promoter reported flat year-over-year revenue growth of just 0.3% in Q2 2025, missing consensus estimates by 8%. Adjusted EBITDA fell 9% compared to the same period last year, coming in 21% below analyst expectations.
The disappointing results triggered a 17% decline in CTS Eventim’s share price on Friday. The company’s EBITDA margin contracted to 12.6%, representing a 127 basis point decline from the previous year.
By segment, Ticketing showed strength with revenue increasing 15% and EBITDA rising 6% year-over-year, though its EBITDA margin fell 324 basis points to 38.6%. The Live Entertainment segment performed poorly with revenue dropping 5% and EBITDA plunging 40% compared to Q2 2024, resulting in a margin of just 3.7%.
Despite the quarterly miss, Deutsche Bank remains optimistic about CTS Eventim reaching its full-year guidance, which calls for "moderately higher" revenue and adjusted EBITDA in fiscal year 2025, typically indicating 5-15% year-over-year growth for both metrics.
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