CTS Eventim share: Waiting for impulses

Last Updated: 25. Januar 2024By

The CTS Eventim share did not start the new stock market year 2024 particularly strong. Since the beginning of the year, the stock has lost almost 4 percent and even on an annual basis, there is a decline of around 7 percent on the scoreboard (as of January 25, 2024, around 11 am).

And this, despite the fact that the fiscal year 2023 was very successful based on the nine-month figures. Investors are currently waiting for fresh impulses. These are expected to come at the end of March, when the ticket marketer and event organizer publishes its annual financial report.

CTS Eventim: No specification of forecast The nine-month figures from November 2023 were generally convincing. After 3 out of 4 quarters, the group’s revenue increased by 23 percent compared to the same period last year to 1.75 billion euros, and the normalized EBITDA increased by 34 percent to 343 million euros.

However, contrary to expectations, CTS Eventim did not use the figures to specify the forecast for the full year. The company, listed on the MDAX, continues to expect „revenue of well over 2 billion euros and a normalized EBITDA of well over 400 million euros“.

What can be expected for CTS Eventim share in 2024? Investors are eagerly awaiting the figures for the completed 4th quarter and thus for the full year. It is almost certain that CTS Eventim has achieved its set goals. The question remains how successful the company could complete the year 2023. After 9 months, the ticket marketer had cited the expanded international network and lucrative tours by superstars like Taylor Swift as growth drivers.

In the current stock market year 2024, investors are waiting for impulses on the CTS Eventim share. The annual financial report and, above all, the outlook for 2024 should be helpful here. Until the end of March, when it is due, Jefferies recently confirmed the price target of 77 euros. Medium and long-term oriented investors should keep an eye on the CTS Eventim share. Because the industry continues to grow and the MDAX group is the market leader in Europe.

Source: https://aktienscreener.com/