The figures published today by CTS Eventim clearly show how severely the event industry is being affected by the consequences of the COVID-19 pandemic. The Munich-based company reports a slump in sales from 1.07 billion euros to 0.23 billion euros. On an EBITDA basis, a loss of 18 million euros was achieved after a profit of 177 million euros in the same period of the previous year – and that despite “consistent cost management and income from insurance reimbursements,” as the company reports. A turnover of 30 million euros and an EBITDA loss of 15 million euros are attributable to the third quarter.
“Since the beginning of the pandemic, it has been clear to us that we see the strain on our company as a test of our performance. We act accordingly. There is no standstill, ”says Klaus-Peter Schulenberg, CEO of CTS Eventim. “Even and especially in times of crisis, we fully rely on our strengths: technology and industry expertise. This is how we continue to convince our customers – both existing and new, ”says the manager.
The southern Germans do not provide a concrete forecast for 2020. A significant decline in sales and earnings compared to the previous year is expected, according to CTS – not surprising in view of the situation in the entertainment industry.
At a glance – chart and news: CTS Eventim