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Investing.com -- Shares of CTS (NYSE:CTS) Eventim (ETR:EVDG) fell more than 17% on Thursday after the live entertainment and ticketing company reported weaker-than-expected second-quarter results, with sales and earnings missing analyst forecasts despite reaffirming its full-year outlook.
The German company said second-quarter sales rose 0.3% from a year earlier to €795.6 million. That figure came in 7% below the FactSet consensus estimate of €853 million.
Adjusted EBITDA increased 8.9% year over year to €100.2 million but missed the consensus forecast of €130 million by 23%. The adjusted EBITDA margin declined to 12.6% from 13.9% in the same period of 2024.
Performance in the ticketing segment improved compared with last year but fell short of prior profitability levels.
Revenue rose 15.4% to €202.1 million, while adjusted EBITDA increased 6.5% to €78.1 million.
The segment’s margin narrowed to 38.6% from 41.8%, which the company attributed to integration processes related to See Tickets and France Billet.
The live entertainment segment posted weaker results. Revenue declined 4.5% year over year to €602.5 million, and adjusted EBITDA dropped 37.7% to €22.1 million. The margin fell to 3.7% from 5.7% a year earlier.
The company cited challenging conditions in parts of Europe and continued cost inflation as factors weighing on the segment.
Despite the quarterly shortfall, CTS Eventim confirmed its guidance for 2025. The company said it is maintaining its outlook while noting that macroeconomic conditions continue to create uncertainty.