Shares of CTS Eventim AG & Co. KGaA, (EVD.DE) are down 18 percent on Thursday's trading after the company reported lower profit in its second quarter. Revenue, however, climbed from last year, helped by good performance in the Ticketing business.
On the Frankfurt Exchange, the stock is trading 18 percent lower on Thursday at 81.25 euros.
The ticketing and live entertainment service provider posted net result attributable to shareholders of CTS KGaA of 43.58 million euros or 0.45 euro per share in the second quarter, down from 57.70 million euros or 0.60 euro per share in the year-ago period.
During the three-month period, earnings before taxes or EBT fell to 74.03 million euros from 100.83 million euros in the same period last year.
Quarterly revenue rose marginally to 795.61 million euros from 793.57 million euros in the corresponding period of 2024. In the Ticketing division, revenues rose 15.4 percent from the last-year period to touch 202.1 million euros.
According to the company, adjusted EBITDA fell 8.9 percent to 100.2 million euros in the second quarter, while the adjusted EBITDA margin came in at 12.6 percent.
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