EVD.XETRA

CTS Eventim AG & Co. KGaA

Next est. report 2026-11-19 · BMO

Music '26: Concerts Recreation '26: Experience EconomyRecreation '26: Global Event Ticketing

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Overview

CTS Eventim is a leading international live events company operating through Ticketing and Live Entertainment. The Ticketing segment offers comprehensive soluti

CTS Eventim is a leading international live events company operating through Ticketing and Live Entertainment. The Ticketing segment offers comprehensive solutions for event organizers and consumers, while Live Entertainment plans tours, festivals, and manages venues. Live Entertainment now contributes a larger share of group revenue, serving a global customer base with 70% of retail ticket volume generated outside Germany.

Search Keywords Brand Product

Eventim ticketing
Rock am Ring
Rock im Park
Unipol Dome Milan
EVENTIM.fanSALE
eventim.de
ticketone.it
oeticket.com
ticketcorner.ch
entradas.com
kinoheld
live entertainment
event ticketing
concert promotion
venue operations
festival organization
sports ticketing
mobile ticketing
operational excellence program

Search Keywords Event Phrases

LA28 Olympics tickets
Eros Ramazzotti World Tour
Muse Unipol Dome concert
Capital Markets Day 2026

Search Keywords Policy Regulatory

EU ticket regulation
antitrust live events

What They Do (Plain English & Analogies): CTS Eventim is essentially a powerhouse in the live events world. Think of them as both the company that helps you buy tickets to your favorite concert, sports game, or festival, and also often the company that actually puts on those shows or manages the venues where they happen. They handle everything from selling tickets for major events like the LA28 Olympics and popular festivals like Rock am Ring, to organizing global tours for artists like Eros Ramazzotti, and even running the actual arenas and stadiums where these experiences unfold.
Very Brief History: Founded in Bremen, Germany, in 1989 as CTS Computer Ticket Service GmbH, the company became a major international player in live events. After being acquired by Klaus-Peter Schulenberg in 1996 and going public in 2000, it expanded into live entertainment through promoter acquisitions. It adopted its current name, CTS Eventim AG & Co. KGaA, in May 2014, and has continued its global growth.
"Street Stereotype": CTS Eventim is widely seen by investors and analysts as Europe's answer to Live Nation, holding a dominant position in both ticket sales and live event promotion. It's perceived as 'ticketing-heavy' but also a major promoter and venue operator across Europe, offering high quality with potentially less headline risk than some global counterparts, and often at a more attractive valuation.
Subsidiaries On Linked In*: See Tickets — Acquired entity undergoing integration
France Billet — Acquired entity undergoing integration
Ticketone S.p.A. — Operates ticketone.it in Italy
Ticketcorner AG — Operates ticketcorner.ch in Switzerland
Oeticket.com — Operates oeticket.com in Austria
EVENTIM LIVE INTERNATIONAL GmbH — Live entertainment subsidiary
Friends & Partners — Italian promoter, 60% owned
Vivo Concerti — Italian promoter, 60% owned
Barracuda Music — Austrian promoter, 71% owned
Arcadia Live — Austrian promoter, subsidiary of Barracuda
Talent Concert International — 51% owned
Di&Gi - D'Alesandro e Galli — Italian promoter, 60% owned
Vaddi Concerts — Live entertainment promoter
Seekers Event — 51.1% owned
Promoters Group Munich — Promoter group with various stakes
Dirk Becker Entertainment — 83% owned promoter
Gadget abc Entertainment Group AG — Swiss entertainment group, 60% owned
kinoheld GmbH — Majority owned subsidiary for cinema operators
PRK DreamHaus — German promoter, formed in September 2024 from the merger of DreamHaus and PRK Peter Rieger Konzertagentur
Customer Sectors & Example Clients: CTS Eventim serves a broad range of customers in the entertainment and live events sectors. This includes professional event organizers such as concert promoters, theater producers, sports organizations, art exhibition organizers, and cinema operators. They also cater directly to individual event-goers. On the business-to-business side, their clients include venues, arenas, festivals, sports groups, and cultural institutions that utilize their ticketing software, sales reach, and operational control. Specific clients mentioned or implied include the International Olympic Committee (IOC) for the LA28 Olympics, and artists such as Linkin Park, Limp Bizkit, Iron Maiden, Eros Ramazzotti, and Muse, whose events they promote or ticket.
New Customers / Segments They'Re Targeting: CTS Eventim is actively expanding its reach to new customer segments, particularly in large-scale international sports events, as evidenced by its exclusive primary ticketing partnership with AXS for the LA28 Olympics. The company is also targeting venue-specific audiences and international events through the ramp-up of its Unipol Dome in Milan, which will host a rapidly expanding event schedule. Furthermore, its operational excellence program and 2030 ambitions aim to scale the business to handle more diverse products and larger projects, implicitly targeting a broader range of event types and organizers globally, especially given that 70% of its retail ticket volume is now generated outside Germany.
Sales Geographies And Expansion Plans: CTS Eventim currently sells its products and services across more than 25 countries, including Germany, Italy, the United States, Switzerland, Austria, Finland, the Netherlands, and Spain. The company has significantly expanded its international footprint, with 70% of its retail ticket volume now generated outside Germany. Recent international activities include the Eros Ramazzotti World Tour with shows in over 30 countries across Europe, the United States, Canada, and Latin America. CTS Eventim is also the exclusive primary ticketing partner for the LA28 Olympics in the United States and is actively ramping up its Unipol Dome venue in Milan, Italy. Additionally, the company is in discussions regarding a potential new venue in Vienna, indicating further European expansion plans.
How Key Themes May Help/Hurt: CTS Eventim is strongly positioned to benefit from the "Recreation '26: Experience Economy" theme, driven by sustained global consumer demand for unique, "AI-proof" in-person experiences. This trend directly fuels its core ticketing and live entertainment businesses, leading to robust attendance and ticket sales, as seen with sold-out festivals and successful tours. The company's investments in venue operations, such as the Unipol Dome, and its operational excellence program, which includes technology and AI, align with the theme's emphasis on enhanced monetization and improved fan experiences. However, the company could be hurt by the theme's inherent vulnerabilities, including the discretionary nature of live events, which makes it susceptible to persistent inflationary pressures, cautious consumer spending, and broader economic slowdowns. While the company is well-insured for event cancellations, a general decline in consumer willingness to pay higher ticket prices due to rising costs could impact its profitability and growth trajectory.

3 Main Long-Term Bull Details

Sustained Profitable Growth and Market Leadership: CTS Eventim continues to demonstrate robust financial performance, with H1 2026 group revenue growing 17% to EUR 1.5 billion and adjusted EBITDA up 12.4%. The Ticketing segment showed strong like-for-like growth of nearly 20%, and Live Entertainment revenue surpassed EUR 1 billion for the first time in a half-year period, growing over 18%. This consistent growth, coupled with 81 million retail tickets sold and a 13.3% increase in GTV on a last 12 months basis, underscores its strong market position and ability to capitalize on the expanding live events industry.
Accelerated Internationalization and Strategic Partnerships: The company has achieved a significant milestone with 70% of its retail ticket volume now generated outside Germany, reflecting successful international expansion. Key international initiatives include the exclusive primary ticketing partnership for the LA28 Olympics with JV partner AXS, and the promotion of global tours like Eros Ramazzotti's across more than 30 countries. This international focus diversifies revenue streams and strengthens its global platform scale.
Operational Excellence and High-Margin Venue Expansion: CTS Eventim is enhancing its profitability through strategic initiatives, including the operational excellence program aimed at driving efficiency and growth towards its 2030 ambitions. The Live Entertainment segment's margin expanded to 5% in H1 2026, benefiting from a strong show portfolio and a turnaround in its U.S. promoter business. Furthermore, the Unipol Dome in Milan, a key high-margin venue, is ramping up operations and is expected to contribute positively from Q3, representing a significant addition to its portfolio of event venues.

3 Main Long-Term Bear Details

Vulnerability to Macroeconomic and Geopolitical Headwinds: Despite strong performance, CTS Eventim remains susceptible to broader macroeconomic and geopolitical uncertainties, which can lead to cautious consumer spending and persistent inflationary pressures. Management explicitly stated a conservative stance on guidance due to the geopolitical environment, indicating potential external risks that could impact demand for discretionary live events and necessitate higher ticket prices, potentially affecting overall market growth.
Temporary Margin Compression from Strategic Investments: The company's operational excellence program, while a long-term growth driver, is currently incurring higher costs in 2026, temporarily impacting ticketing margins. Additionally, the ramp-up phase of new high-margin venues like the Unipol Dome in Milan initially weighs on event business margins. The overall group adjusted EBITDA margin saw a slight decrease in H1 2026, partly due to the increasing revenue share of the structurally lower-margin Live Entertainment segment.
Lumpiness and External Control in Large-Scale Contracts: Revenue and profitability from significant partnerships, such as the exclusive primary ticketing for the LA28 Olympics, are subject to the timing and decisions of external partners (e.g., the IOC). This can introduce volatility and lumpiness in financial results, as the company does not have full control over when ticket "drops" occur, making precise forecasting challenging and potentially shifting revenue recognition across periods.

Competitors And Differentiation: CTS Eventim operates in a competitive landscape, facing rivals in the broader entertainment industry such as streaming services and gaming, as well as new entrants in specific live event sub-sectors. Its primary competitor in the live events space is often considered Live Nation, particularly its Ticketmaster division. CTS Eventim differentiates itself by being the dominant ticketing platform in Europe, offering aftermarket liquidity through EVENTIM.fanSALE, and providing a comprehensive, integrated solution spanning both ticketing and live entertainment production. The company is perceived as a high-quality operator with potentially less headline risk compared to some global peers. Its strategic partnerships, such as the joint venture with AXS for the LA28 Olympics, also contribute to its competitive positioning.
Recent Performance & What The Market'S Focused On: CTS Eventim delivered a strong H1 2026, with group revenue up 17% to EUR 1.5 billion and adjusted EBITDA growing 12.4% to EUR 225 million. The company reported 81 million retail tickets sold and a significant 34% increase in EPS to EUR 1.25, partly driven by positive FX effects. Key operational highlights included the sold-out Rock am Ring festival, the ongoing Eros Ramazzotti World Tour, and successful initial ticket drops for the LA28 Olympics. The market is currently focused on the specific revenue and profitability contributions from the LA28 Olympics contract, the underlying "clean" organic growth rate of the Ticketing segment after adjusting for one-off effects, and whether the company's reiterated full-year guidance is conservative given the strong first half. Analysts are also keenly interested in the financial impact and future benefits of the operational excellence program, the ramp-up and valuation of the Unipol Dome in Milan, and the drivers behind the improved financial result and cash flow profile.

Revenue Segments And Estimated Mix: Live Entertainment — Mix: ~73% of group revenue in H1 2026; Source: H1 2026 earnings transcript; Trend: Revenues grew well over 18% to nearly EUR 1.1 billion in H1 2026, surpassing EUR 1 billion for the first time in a half-year. Adjusted EBITDA was EUR 53 million, and margin expanded to 5%. Accounts for a larger share of the group's revenue compared to the previous year, with structurally lower margins than Ticketing. Includes Venue operations (EUR 70 million revenue, EUR 29 million adjusted EBITDA).
Ticketing — Mix: ~27% of group revenue in H1 2026; Source: H1 2026 earnings transcript; Trend: Revenue grew +14% in H1 2026 (nearly +20% on a like-for-like basis without the Stage partner business change). Adjusted EBITDA grew +3.4%. Remains a high-quality earnings stream, with margins temporarily impacted by the operational excellence program.
Product Brands: eventim.Web
EVENTIM.Net
EVENTIM.Inhouse
EVENTIM.Tixx
EVENTIM.Light
EVENTIM.Access
kinoheld
EVENTIM.fanSALE
EVENTIM.Pass
eventim.de
oeticket.com
ticketcorner.ch
ticketone.it
entradas.com
EVENTIM Sports
Rock am Ring
Rock im Park
Unipol Dome

Bull / Bear Details

CTS Eventim is demonstrating robust profitable growth in the expanding live events sector, driven by strong H1 2026 financial performance and significant intern

Thesis

CTS Eventim is demonstrating robust profitable growth in the expanding live events sector, driven by strong H1 2026 financial performance and significant internationalization. Strategic initiatives like the LA28 Olympics partnership, Unipol Dome ramp-up, and an operational excellence program enhance future monetization and market leadership. Despite temporary operational costs and geopolitical conservatism, the bull case remains compelling. (Updated: 2026-08-31)

Bull case

CTS Eventim is demonstrating robust profitable growth, with H1 2026 group revenue up 17% to EUR 1.5 billion and adjusted EBITDA up 12.4% to EUR 225 million. Ticketing revenue grew 14% (nearly 20% like-for-like), and Live Entertainment revenue surpassed EUR 1.1 billion for the first time in H1, up over 18%. This strong performance, including 81 million retail tickets sold, confirms significant market momentum.
Strategic international expansion and high-profile partnerships are driving future value. A significant milestone is 70% of retail ticket volume now generated outside Germany. The LA28 Olympics ticketing partnership is expected to generate low triple-digit million revenues with 20-30% profitability over three years. The Unipol Dome in Milan, now hosting concerts, will contribute to operating results from Q3 2026, adding to the high-margin venue portfolio.
The operational excellence program, a scaling and cost initiative, is set to drive efficiency and growth from 2027, including continued investment in technology and AI. Furthermore, the integration of See Tickets is now complete, eliminating prior integration costs and allowing for full realization of synergies, strengthening the company's digital infrastructure and international footprint.

Bear case

The live events sector remains vulnerable to persistent inflationary pressures and cautious consumer spending, with management acknowledging conservatism due to the geopolitical environment. While demand is robust, rising operating costs and the need for higher ticket prices could impact demand, particularly for lower-income demographics, and potentially limit overall market growth, as seen with the flattening out of some markets like the UK post-COVID.
The operational excellence program, while strategic for long-term growth, introduces temporary higher costs in 2026, impacting current year profitability. Additionally, the adjusted EBITDA margin for the group saw a slight decrease in H1 2026 (14.9% vs 15.5% in H1 2025) due to a weighted mix effect, as the lower-margin Live Entertainment segment now accounts for a larger share of group revenue.
Intense competition for consumer leisure time and market awareness challenges persist. The broader entertainment industry faces stiff competition for wallet share from diverse entertainment options, including streaming services and gaming. This necessitates continuous, effective marketing and execution to capture demand in a crowded market and overcome information asymmetry, a challenge the company has previously acknowledged.

Bull / Bear Case

Bear Case: The live events sector remains vulnerable to persistent inflationary pressures and cautious consumer spending, with management acknowledging conservatism due to the geopolitical environment. This could impact demand and necessitate higher ticket prices, potentially limiting overall market growth, as seen with the flattening of some markets like the UK post-COVID. The operational excellence program, while strategic, introduces temporary higher costs in 2026, impacting current year profitability. The adjusted EBITDA margin for the group slightly decreased in H1 2026 (14.9% vs 15.5%) due to a weighted mix effect, as the lower-margin Live Entertainment segment now accounts for a larger revenue share. Intense competition for consumer leisure time and the lumpiness of large-scale contracts like LA28 also pose ongoing challenges.
Bull Case: CTS Eventim is demonstrating robust profitable growth, with H1 2026 group revenue up 17% to EUR 1.5 billion and adjusted EBITDA up 12.4%. The Ticketing segment's like-for-like revenue grew nearly 20%, and Live Entertainment revenue surpassed EUR 1.1 billion for the first time in H1. This strong performance, including 81 million retail tickets sold, confirms significant market momentum. Strategic international expansion is a key driver, with 70% of retail ticket volume now generated outside Germany. High-profile partnerships like the LA28 Olympics ticketing and the ramp-up of the high-margin Unipol Dome in Milan are set to enhance future monetization. The operational excellence program and completed See Tickets integration further strengthen the company's long-term efficiency and digital infrastructure in a healthy, expanding live events market.
More Compelling & Why: Bull. CTS Eventim's trailing EV/EBITDA of approximately 8.4x is significantly lower than its closest peer, Live Nation, which trades around 28x, indicating a substantial undervaluation. The company's strong H1 2026 operational performance and strategic international expansion are compelling. A sustained deceleration in organic ticketing revenue growth below mid-single digits would flip my view.

Key Factors5 rows

Key Factor	Why It Matters	What To Watch	What It Signals	Where/How To Track	Free Alt Data	Paid Alt Data
Mobile Ticketing Infrastructure Investment and Penetration Rate	Investment in mobile ticketing and related technology (AI, platforms) is crucial for digital transformation, enhancing direct customer connection, and enabling future cross-selling and upsell opportunities, which are key for long-term value capture and GTV per customer growth.	Management commentary in Q3 and Q4 2026 earnings calls regarding continued investment in technology, platforms, and AI as part of the operational excellence program. Look for any early indications or qualitative updates on mobile penetration rates, with quantitative reporting expected from 2027.	Confirmation of consistent investment in mobile infrastructure and AI, with management reiterating expected efficiency and growth contributions from 2027 = bullish. Any indication of delays in investment, reduced focus, or a downgraded outlook for future benefits = bearish.	Company's Q3 2026 and Q4 2026 earnings reports and conference calls, Capital Markets Day on November 20, 2026.	Google Trends: 'Eventim app download' or 'mobile ticketing Europe' search volume.	Apptopia/Sensor Tower: Eventim app download and usage trends
Live Entertainment Segment Adjusted EBITDA Margin	The Live Entertainment segment's profitability is a significant driver of overall group performance. Consistent operation within the target margin corridor, especially with its growing revenue contribution, is crucial for demonstrating operational efficiency and strategic success in portfolio optimization.	The reported Live Entertainment adjusted EBITDA margin for Q3 2026 and the full year 2026. Monitor for improvement from the H1 2026 margin of 5% and progress towards the 6-8% target margin corridor.	Adjusted EBITDA margin showing clear improvement in Q3 and a confident outlook for reaching the 6-8% corridor for the full year 2026, supported by portfolio optimization and U.S. promoter business turnaround = bullish. Margin remaining flat or falling below 5% in Q3, or a downgraded outlook for the segment's profitability = bearish.	Company's Q3 2026 earnings report and conference call.	Industry news on major concert tours and festival performance in Germany and Italy.	Pollstar Pro: Live Entertainment revenue and attendance data for key markets
Milan Venue (Unipol Dome) Contribution to Operating Results	The Unipol Dome is a significant addition to the company's high-margin venue portfolio. Its successful ramp-up and contribution to operating results will demonstrate effective asset monetization and future revenue streams, especially following substantial investment.	Specific commentary in the Q3 2026 earnings report regarding the Unipol Dome's contribution to operating results, event schedule expansion from late summer onwards, and any updates on the 'rapidly expanding event schedule'.	Positive contribution to operating results starting in Q3 2026, with confirmation of a rapidly expanding event schedule and strong event volume = bullish. Delays in event scheduling, lower-than-expected revenue contribution, or continued negative impact on margins = bearish.	Company's Q3 2026 earnings report and conference call, company press releases, Capital Markets Day on November 20, 2026.	Local news in Milan regarding Unipol Dome events, social media activity around concerts/events at the venue.	Placer.ai: Foot traffic data for Unipol Dome, Milan
LA28 Olympics Ticketing Partnership Revenue and Profitability	This multi-year contract for the LA28 Olympics is a significant international partnership, showcasing CTS Eventim's ability to secure large-scale global events and expand its international footprint, with clear revenue and profitability expectations.	Updates on the timing and size of the 'second drop' (which was concluding at the time of the H1 call) and any subsequent ticket drops for the LA28 Olympics in Q3 and Q4 2026. Monitor the reported revenue contribution and profitability levels.	Consistent revenue contribution from LA28 drops within the expected low to mid-double-digit million range per drop, at profitability levels between 20-30%, and timely execution of future drops = bullish. Delays in drops, lower-than-expected revenue or profitability, or issues with execution = bearish.	Company's Q3 2026 and Q4 2026 earnings reports and conference calls.	Official LA28 Olympics website for ticket availability updates, news reports on Olympic ticket sales.
Organic Ticketing Revenue Growth Rate	This metric reflects the underlying health and demand for CTS Eventim's core ticketing business, independent of acquisitions. Strong organic growth signals effective market penetration and pricing power, driving investor confidence in sustainable long-term performance.	The reported pure organic like-for-like growth rate for the Ticketing division in Q3 and Q4 2026.	Organic Ticketing growth at or above the mid-single-digit range (as seen in H1 2026) and aligning with the midterm industry growth projection of 5-7% = bullish. Sustained growth below the mid-single-digit range or a significant deceleration = bearish.	Company's Q3 2026 and Q4 2026 earnings reports and conference calls.	Industry reports on European ticketing market growth (e.g., Pollstar, Statista).	SimilarWeb: Website traffic trends for eventim.de, ticketone.it, oeticket.com

Key Reported Metrics, Reratings Triggers & Results3 rows

This metric will signal the successful ramp-up and monetization of a significant new high-margin venue investment. Positive contributions will validate strategi

Upcoming print · 2026-11-19

Key reported metrics
Metric	Last period	Why it matters
Unipol Dome Contribution to Operating Results	N/A	This metric will signal the successful ramp-up and monetization of a significant new high-margin venue investment. Positive contributions will validate strategic expansion and future revenue streams.
Live Entertainment Adjusted EBITDA Margin Growth	H1 2026 revenue of nearly EUR 1.1 billion (well over 18% y/y growth). Full-year 2026 guidance maintained.	This is a key profitability indicator for the Live Entertainment segment, which now accounts for a larger share of group revenue. Improvement towards the target corridor signals successful portfolio optimization and operational efficiency.
Organic Ticketing Revenue Growth Rate	Mid-single-digit territories for Q2 2026 and H1 2026.	This metric indicates the underlying health and organic demand for CTS Eventim's core ticketing business, excluding one-off effects. Strong growth signals effective market penetration and pricing power, boosting investor confidence.

Last reported · 2026-08-20

Key reported metrics			Rerating thresholds			Earnings results
Metric	Last period	Why it matters	What's needed for rerating	Rerating context	Earnings date	Actual reported	Hit target?	Notes
Retail Ticket Volume Growth	16.7%	This operational metric highlights the company's ability to sell a higher volume of tickets, reflecting strong consumer demand and successful integration of acquired businesses. Increased volume can lead to greater revenue and market share, supporting the overall growth thesis.	For CTS Eventim AG & Co. KGaA (EVD.XETRA) to rerate higher, the Retail Ticket Volume Growth metric needs to hit at least 20% for the upcoming Q2 2026 earnings report. This would represent a significant acceleration and clear rebound from the slight decline in retail ticket volume reported in Q1 2026 (39 million tickets from 40 million in Q1 2025), and surpass the previous reported value of 16.7%. This target is supported by strong international ticket volume growth seen in Q3 2025 (29% and 43% for tickets sold outside Germany) and aligns with robust peer performance, such as Live Nation's 8% increase in fee-bearing tickets sold and 12% international ticket growth in Q2 2026. Analysts are also anticipating stronger Q2 dynamics for CTS Eventim, partly driven by Olympic-related ticket sales.	Hitting 20%+ Retail Ticket Volume Growth signals successful navigation of contract changes and validates strategic international expansion. This demonstrates strong consumer demand and market capture, supporting the investment thesis of sustained live events growth, justifying a higher valuation through increased revenue and market share.	2026-08-20	81 million tickets for H1 2026 (slightly above prior year's level).	No	The company reported 81 million retail tickets for H1 2026, stating it 'performed slightly above prior year's level'. A specific year-over-year growth percentage for Q2 2026 retail ticket volume was not provided in the earnings call. Given the H1 performance was only 'slightly above prior year's level' and the rerating trigger required 'at least 20%' for Q2, the target was not explicitly met with reported figures. Management also noted that overall volume development, excluding certain effects, was at 'low single digits'.
Live Entertainment Revenue Growth	5.5%	After a muted Q2, the return to growth in Live Entertainment is vital. It indicates successful event promotion and venue operations, directly impacting the company's second major revenue stream and overall financial recovery. Investors will watch for sustained momentum.	For CTS Eventim AG & Co. KGaA (EVD.XETRA) to rerate higher, Live Entertainment Revenue Growth for Q2 2026 needs to be reported at a strong double-digit rate, ideally exceeding 15% year-over-year. This should be accompanied by a significant upward revision of the full-year 2026 Live Entertainment revenue guidance from the previously stated 'prior year level' (flat) to at least 7-10% growth.	Achieving strong double-digit Live Entertainment revenue growth in Q2 2026, especially after Q1's exceptional performance, would validate the bull thesis of sustained demand for live events and effective monetization. An upward revision of full-year guidance would signal a significant turnaround from previous caution, improving competitive position and justifying a higher valuation in line with the robust live events market.	2026-08-20	H1 2026 revenue of nearly EUR 1.1 billion (well over 18% y/y growth). Full-year 2026 guidance maintained.	Partially	Live Entertainment revenue for H1 2026 increased by 'well over 18% versus 2025', reaching nearly EUR 1.1 billion, which exceeds the 'strong double-digit rate, ideally exceeding 15%' part of the trigger. However, the company stated, 'For the time being, we stick to the guidance', indicating no upward revision of the full-year 2026 Live Entertainment revenue guidance. Therefore, only the revenue growth component of the rerating trigger was met, while the guidance revision component was not.
Organic Ticketing Revenue Growth	4.5%	This metric reflects the underlying health and demand for CTS Eventim's core ticketing business, independent of acquisitions. Strong organic growth signals effective market penetration and pricing power, driving investor confidence in sustainable long-term performance.	For CTS Eventim AG & Co. KGaA (EVD.XETRA) to rerate higher, the Organic Ticketing Revenue Growth metric needs to hit at least 5.5% to 6% or higher for the upcoming Q2 2026 earnings report. This target is supported by the company's adjusted organic ticketing growth of 6% in Q1 2026, exceeding the previous mid-single-digit growth of around 4.5% in Q3 2025, and aligning with the company's internal aim for sustained organic growth at or above 4.5-5%. Peer company Live Nation (LYV) also reported strong Q2 2026 ticketing revenue growth of 15% and an 8% increase in fee-bearing tickets sold, indicating robust market demand. Exceeding the 5.5-6% range would signal strong momentum and outperformance in a competitive market.	Achieving organic ticketing revenue growth of 5.5-6% or higher is crucial as it confirms the underlying health and robust demand for CTS Eventim's core business. This demonstrates effective market penetration and pricing power, validating the investment thesis of strong growth in the live events sector. It would boost investor confidence, potentially leading to a higher valuation by aligning with positive broader industry trends and showcasing the company's ability to sustain growth.	2026-08-20	Mid-single-digit territories for Q2 2026 and H1 2026.	No	The company reported that the pure organic like-for-like growth for the Ticketing segment in Q2 and H1 2026 was 'around in the mid-single-digit territories'. This falls short of the rerating trigger of 'at least 5.5% to 6% or higher', especially considering the Q1 2026 adjusted organic growth was 6%. The phrasing 'around in the mid-single-digit territories' suggests it did not definitively hit the upper end of this range or exceed it.

Key Questions

Can CTS Eventim's Live Entertainment segment achieve its 6-8% adjusted EBITDA margin target in H2 2026, driven by the Unipol Dome's positive contribution and co

Can CTS Eventim's Live Entertainment segment achieve its 6-8% adjusted EBITDA margin target in H2 2026, driven by the Unipol Dome's positive contribution and continued portfolio optimization, or will ramp-up costs and timing effects continue to weigh on profitability?

Question 2: Will the operational excellence program's temporary costs in H2 2026 be effectively managed within the low to mid-single-digit million range per quarter, and will management provide clear, measurable milestones at the Capital Markets Day for the program's expected efficiency and growth contributions starting in 2027?
Question 3: How will the timing and quantum of future LA28 Olympics ticket drops impact CTS Eventim's H2 2026 revenue and profitability, and will management revise its full-year guidance upwards at the Capital Markets Day, signaling greater confidence in overcoming geopolitical conservatism?

Earnings Transcript Summary2 rows

2026-08-20 · 2026H1 Earnings Call

3 Things Management Is Most Focused On	Call Takeaway & Tone	Prior Quarter'S Y/Y Growth By Segment	3 Things Analysts Most Pressed On (And Mgmt Responses)	Revenue Segments
3 Things Management Is Most Focused On1. Sustaining Profitable Growth and Meeting Expectations: Management emphasized that the company continues to grow profitably, with H1 2026 results being in line with their expectations and demonstrating a continuous course of profitable growth. 2. Implementing the Operational Excellence Program for 2030 Ambitions: The operational excellence program has commenced, serving as a kickoff for the company's 2030 ambitions. This program is described as a scaling program first and a cost program second, aimed at modernizing processes and building capabilities for future growth. 3. Driving Internationalization and Leveraging Platform Scale: CTS Eventim is increasingly international, with 70% of retail ticket volume now generated outside Germany due to overproportional international growth. The LA28 Olympics partnership is a key highlight of this international expansion.	Call Takeaway & ToneThe overall takeaway from the call is that CTS Eventim delivered a strong first half of 2026, meeting its expectations with continued profitable growth across both its Ticketing and Live Entertainment segments. The company is actively pursuing strategic initiatives, including the operational excellence program to prepare for future growth and further international expansion, highlighted by the LA28 Olympics partnership and the successful ramp-up of the Unipol Dome. The tone of the call was positive and confident, with management expressing pride in the results and optimism for future growth, while also acknowledging a degree of conservatism in their full-year guidance due to the geopolitical environment.	Prior Quarter'S Y/Y Growth By SegmentIn Q4 2025, Group revenues grew by 19.2% year-over-year. The Ticketing segment's revenue increased by 11.1% year-over-year. Live Entertainment segment revenue grew by 24.6% year-over-year.	3 Things Analysts Most Pressed On (And Mgmt Responses)1. LA28 Olympics Contract Details (Revenue, Profitability, Drops): Analysts sought more context on the revenue size, profitability, and quantum of the second ticket drop for the LA28 Olympics contract. Management responded that the overall 3-year contract (2026-2028) is expected to generate low triple-digit million revenues with profitability levels between 20% and 30%. The first drop in Q2 contributed a low to mid-double-digit million revenue at these profitability levels, and the second drop was concluding. They also noted that approximately 4 million tickets were part of the first drop, but it's a complex B2B framework rather than a simple fee per ticket. 2. Ticketing Organic Growth (Excluding Stage and LA28) and H2 Outlook/Guidance Conservatism: Analysts inquired about the clean organic growth for the Ticketing division in Q2 and H1, and why the full-year guidance appeared conservative despite strong H1 results. Management stated that the pure organic like-for-like growth in Q2 and H1 was in the mid-single-digit range, which was in line with or slightly above market growth. Regarding guidance, they are maintaining it, citing geopolitical environment as a reason for conservatism, and plan to provide more detailed updates at the Capital Markets Day. 3. Operational Excellence Program Impact on Ticketing Margin and Future Cost Savings: Analysts asked for further clarification on the expected margin impact in the second half of the year due to the operational excellence program and anticipated cost savings for 2027. Management explained that the program involves temporary incremental expenses of a low to mid-single-digit million amount per quarter in 2026 for building capabilities and talent, with efficiency and growth contributions expected to start from 2027. They clarified that it is a reacceleration program for future growth rather than solely a cost-cutting initiative.	Revenue SegmentsGroup revenue increased by 17% versus H1 2025. The Ticketing business saw a 14% revenue growth, or nearly 20% on a like-for-like basis excluding the Stage partner business effect. Live Entertainment revenues went up by over 18% versus 2025, reaching nearly EUR 1.1 billion. Venue operations generated EUR 70 million in revenue, with structurally stable margins.

2025-11-19 · 2025Q3 Earnings Call

3 Things Management Is Most Focused On	Call Takeaway & Tone	Prior Quarter'S Y/Y Growth By Segment	3 Things Analysts Most Pressed On (And Mgmt Responses)	Revenue Segments
3 Things Management Is Most Focused On1. Confirming 2025 Outlook and Gaining Headroom: Management reiterated their group KPIs and ticketing outlook for 2025, noting that the strong Q3 performance, particularly in Live Entertainment, provided more 'headroom' for their guidance. 2. Driving Organic Margin Growth and Profitability Expansion: Management emphasized strong organic margin growth in Ticketing, especially in core Central European markets, and Live Entertainment returning to its target margin corridor. They highlighted efficiency gains and leveraging their diverse content portfolio beyond top acts. 3. Developing Mobile Ticketing Infrastructure and Cross-selling Opportunities: Management is focused on rolling out mobile ticketing more meaningfully in the coming year, led by the new CTO. The goal is to leverage the direct connection with ticket buyers for better cross-sell and upsell opportunities, increasing Gross Transaction Value (GTV) per customer.	Call Takeaway & ToneThe overall takeaway is that CTS Eventim had a strong Q3 2025, leaving behind the 'noise' of Q2, with both Ticketing and Live Entertainment segments showing positive year-over-year growth and improved profitability. The tone was positive and confident, with management reiterating their full-year guidance and expressing optimism for future growth driven by organic performance, strategic acquisitions, and technological advancements like mobile ticketing. They also highlighted ongoing efforts to optimize the festival portfolio and leverage new venues like the Unipol Dome in Milan.	Prior Quarter'S Y/Y Growth By SegmentIn Q2 2025, Ticketing revenue grew by 15.4% year-over-year. Live Entertainment revenue decreased by 4.5% year-over-year in Q2 2025.	3 Things Analysts Most Pressed On (And Mgmt Responses)1. Full-year 2025 Guidance Clarity: Analysts pressed for a narrower guidance range for the full year. Management responded by reiterating the unchanged guidance from H1 but acknowledged that the strong Q3 performance, especially in Live Entertainment, provided more 'headroom' for the outlook. 2. Live Entertainment's Strong Q3 Performance and 2026 Outlook: Analysts inquired about the drivers behind the significantly better-than-consensus Q3 adjusted EBITDA for Live Entertainment and its outlook for 2026. Management attributed the Q3 strength to a good lineup (e.g., Ed Sheeran in Germany and Italy) and pre-incurred Q2 festival expenses being compensated by Q3 revenues. For 2026, they expressed confidence in operating within the target margin corridor (6%-8% EBITDA margin) due to optimized festival portfolios and strong leading indicators like increased deferred revenue (prepayments). 3. Mobile Ticketing Rollout and Expected Impact: Analysts questioned the timeline for a more meaningful mobile ticketing rollout and its expected penetration rates and margin uplift. Management stated that with new leadership (CTO Karel Dorner) and team, development is gaining momentum, and they expect to report material increases in mobile penetration rates in the coming year. They highlighted the strategic importance of mobile for direct customer connection, cross-sell/upsell opportunities, and increasing GTV per customer, rather than just margin uplift.	Revenue SegmentsGroup revenue was up 6% year-over-year. Ticketing revenue grew organically by around 4.5% year-over-year. Live Entertainment revenue increased by 5.5% year-over-year.

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2026-08-20

About Expanding Eligible Market	About Competition	About The Broader Industry	Where Things Are Headed	Updates On Theme	Broader Themes Emerging	Bullish-Leaning Quotes (Short)	Bearish-Leaning Quotes (Short)	Hiring
About Expanding Eligible MarketCTS Eventim is expanding its eligible market through international growth, with 70% of retail ticket volume now generated outside Germany, marking a significant milestone in the internationalization of its platform. The company is also involved in the LA28 Olympic Games, acting as the exclusive partner for primary ticketing with its JV partner AXS, a contract expected to generate a low triple-digit million amount of revenues over three years (2026-2028) with profitability levels between 20% and 30%. The first drop for LA28 in Q2 2026 resulted in approximately 4 million tickets sold. The Unipol Dome in Milan, after hosting the Olympic ice hockey tournament, opened for music concerts in spring 2026 and is expected to contribute to operating results from Q3 2026 onwards, adding to the high-margin venue portfolio. The company is also exploring partnerships for future venue investments, aiming to find a partner who would support expansion beyond the Unipol Dome.	About CompetitionThe broader entertainment industry faces stiff competition for consumer leisure time and wallet share from various entertainment options, including streaming services and gaming. CTS Eventim notes that its dominant markets in the EU are seeing more regulation, but being the biggest ticketing platform in Europe allows them to provide aftermarket liquidity with fanSALE.	About The Broader IndustryThe live entertainment industry is experiencing a healthy market environment, as evidenced by CTS Eventim's volume growth in 2026. However, the company remains conservative in its outlook due to the geopolitical environment. Some markets, like the U.K., which saw tremendous performances in prior years, are now experiencing a flattening out as many big acts have toured post-COVID. The evolving global economic outlook, characterized by uneven growth, persistent inflationary pressures, and cautious consumer spending, is expected to continue shaping demand for live events.	Where Things Are HeadedCTS Eventim expects its Live Entertainment margins to improve over time as its revenue contribution grows. The operational excellence program, which started in H1 2026, is focused on building capabilities and talent, with efficiency and growth contributions expected to begin from 2027. The Unipol Dome in Milan is set to expand its event schedule from late summer 2026 and will contribute to operating results starting in Q3. The company is sticking to its guidance for the year, with updates to be discussed at its Capital Markets Day (CMD) on November 20, 2026, at the Unipol Dome in Milan. The CMD will outline the company's strategy, operational program, and a full potential plan/business plan until 2030, detailing the main drivers for continuous growth. The integration of See Tickets is complete, with no further integration costs. CTS Eventim is continuously reviewing its festival portfolio, having stopped the Highfield Festival, with other festivals under review for potential discontinuation next year.	Updates On ThemeExperience	Broader Themes EmergingDigital transformation and mobile engagement are crucial, with mobile infrastructure being key for direct customer connection, cross-selling, and upselling opportunities. The integration of AI and immersive technologies for personalization, dynamic pricing, and enhanced fan experiences is also a significant broader theme across the industry. CTS Eventim's operational excellence program includes continued investment in technology, platforms, and AI.	Bullish-Leaning Quotes (Short)I am very proud to say we keep on growing profitably. Group revenue came in at EUR 1.5 billion, up 17% versus H1 2025. Adjusted EBITDA grew by 12.4% to EUR 225 million, benefiting from the operational leverage of our platform and proving again the strength of our business model. Our EBIT grew even stronger by 15.3%. Retail ticket volume, we recorded 81 million tickets and performed slightly above prior year's level. EPS for the first half year grew significantly to EUR 1.25, up EUR 0.32 versus H1 2025, a positive development mainly benefiting from FX effects. Ticketing business continued its growth trajectory with plus 14% revenue growth. On a like-for-like basis, without this effect, ticketing came in at nearly plus 20% in H1 2026. 70% of the retail ticket volume is nowadays generated outside Germany. This is a significant milestone, reflecting the successful internationalization of our platform. Live Entertainment delivered a strong performance in the first 6 months, strong and within the expected ranges. Live Entertainment surpassed the EUR 1 billion level for the first time within the first 6 months of the year. Adjusted EBITDA came out strong, too, EUR 53 million compared to EUR 34 million in H1 2025. The margin expanded to 5%. The Unipol Dome Milan will contribute to operating results starting in the third quarter and represents a significant addition to our high-margin portfolio of event venues. We have seen solid organic growth on group level and on ticketing like-for-like. First 6 months of 2026 are fully in line with our expectations. Strong net result and EPS. The integration of See Tickets is done. So no further integration cost. We are in a very cash-generative business.	Bearish-Leaning Quotes (Short)Adjusted EBITDA margin comes out at 14.9% compared to 15.5% in H1 2025. This, however, does not represent a structural deterioration of our margin, but it's mainly a weighted mix effect of our 2 business segments. Live Entertainment margins are structurally lower than the Ticketing segment, as you all know. Although this temporarily leads to higher cost now, this increase will be compensated by future efficiency gains and corresponding cost reductions. The start-up phase of the Unipol Dome is temporarily weighing on the events business' margins in the second quarter. We are a little bit conservative given the geopolitical environment. Marco, unfortunately, is leaving the company on his own request. The effect, which we see rolling through each quarter on the revenue side is around a high single-digit million and some low to mid-single-digit million kind of EBITDA contribution. The market in Q2, I would say, may have been even a little bit weaker than at a single or mid-single-digit percentage where we see our organic growth in that quarter. The efficiency and growth contributions will start from 2027. Yes, there was quarter-on-quarter quite some volatility with Q1 where margins shot really up by more than 300 basis points and now flat margin development in Q2, which is mostly due to these timing effects. Markets that have seen tremendous performances last year and the year before, like the U.K. that, of course, you're seeing a little bit of the effect where many big acts have been touring over the post-COVID years, which is somehow flattening out.	HiringThe company is focused on building up capabilities and talent as part of its operational excellence program. Marco Haeckermann, VP of Investor Relations and Corporate Development and Strategy, is leaving the company, and discussions are underway for a replacement.

2025-11-19

About Expanding Eligible Market	About Competition	About The Broader Industry	Where Things Are Headed	Updates On Theme	Broader Themes Emerging	Bullish-Leaning Quotes (Short)	Bearish-Leaning Quotes (Short)	Hiring
About Expanding Eligible MarketThe company reported tremendous growth in retail tickets and tickets sold outside Germany, up 29% and almost 43% respectively, positively impacted by the ongoing integration and first-time consolidation of See Tickets and France Billet. The share of Europe in retail ticket volume is increasing due to these international acquisitions. CTS Eventim's midterm perspective for the overall live entertainment industry in Europe and globally points towards 5% to 7% growth until 2030-2031. The new Milan venue is showing strong demand, with nearly a triple-digit number of bookings requested even during its final construction stages. The company is also excited about starting work for the 2028 Los Angeles Olympics in 2026.	About CompetitionCTS Eventim notes that its dominant markets in the EU are seeing more regulation, but this is not a holdback as being the biggest ticketing platform in Europe allows them to provide aftermarket liquidity with fanSALE. The broader industry faces intense competition for consumer leisure time and wallet share from various entertainment options, including streaming services and gaming, as well as increasing competition within specific live event sub-sectors from new entrants.	About The Broader IndustryThe live entertainment industry is showing strong signals of recovery in Q3 2025 after a muted Q2. The company projects the overall live entertainment industry in Europe and globally to grow by 5% to 7% until 2030-2031. A key challenge for the industry is coping with permanent OpEx inflation, with artists asking for more money and infrastructure costs rising, necessitating rolling over these costs to ticket prices. A significant industry problem is that many potential attendees do not receive event information in time. Global consumer demand for unique, 'AI-proof' in-person experiences continues to drive robust attendance and ticket sales. However, the evolving global economic outlook, characterized by uneven growth, persistent inflationary pressures, and cautious consumer spending, is expected to continue shaping demand for live events.	Where Things Are HeadedCTS Eventim confirmed its group KPIs and ticketing outlook for 2025, with Q4 2025 expected to be the main quarter for earnings. The company anticipates positive impacts from its festival portfolio review starting next year and expects the Live Entertainment segment to operate within its target margin corridor (6% to 8% EBITDA margin) in 2026. Material increases in mobile ticketing penetration rates are expected to be reported starting next year, with mobile infrastructure being key to capturing value and cross-selling opportunities over the next few years. Integration costs for See Tickets and France Billet are planned to be fully absorbed by 2026. The Milan venue is on track for its opening act with the Winter Olympics, followed by numerous live music shows.	Updates On ThemeLive	Broader Themes EmergingDigital transformation and mobile engagement are emerging as crucial themes, with mobile infrastructure being key for direct customer connection, cross-selling, and upselling opportunities. The integration of AI and immersive technologies for personalization, dynamic pricing, and enhanced fan experiences is also a significant broader theme across the industry.	Bullish-Leaning Quotes (Short)We are leaving the noise of Q2 behind, and we are talking about strong signals we've seen in Q3. Ticketing has posted positive like-for-like growth in the third quarter. Live Entertainment returned to growth in the third quarter after a muted Q2. All the arrows point in the right direction and show a green color. Our last 12 months GTV reached almost EUR 9 billion by the end of September. Q3 posted the highest revenue over the last 7 quarters. Overall, we see that the Live Entertainment segment has returned into its target margin corridor with 7% in Q3. Mobile infrastructure is key. And this won't be a bottleneck for us to utilize the opportunities and capture the value over the next couple of years for CTS Eventim.	Bearish-Leaning Quotes (Short)Despite ongoing integrations from See Tickets and France Billet. The negative trend in the financial results is mostly determined by what we have discussed already with the H1 numbers. Overall, in that part of the value chain, you have to cope with permanent OpEx inflation, artists asking for more money. It is unrealistic to expect for the fourth quarter now an impact that will reverse what we have seen in the first half. The evolving global economic outlook, characterized by sturdy but uneven growth, persistent inflationary pressures, and cautious consumer discretionary spending, will continue to shape demand for live events.	HiringCTS Eventim is hiring for new responsibilities, starting with Karel Dorner as CTO, who has brought on new colleagues for products, IT infrastructure, and development. The company is also welcoming a new CFO at the beginning of next year, who is expected to bring expertise in M&A and broader finance to help reduce complexity and achieve efficiency gains, particularly in areas with manual processes.

2025-11-19

About Expanding Eligible Market	About Competition	About The Broader Industry	Where Things Are Headed	Updates On Theme	Broader Themes Emerging	Bullish-Leaning Quotes (Short)	Bearish-Leaning Quotes (Short)	Hiring
About Expanding Eligible MarketRetail tickets and tickets sold outside Germany posted tremendous growth of 29% and almost 43% respectively, positively affected by the ongoing integration and first-time consolidation of See Tickets and France Billet. The share of Europe is increasing based on the retail ticket volume due to these international acquisitions. CTS Eventim's midterm perspective for the overall live entertainment industry in Europe and globally points towards 5% to 7% growth until 2030-2031. The new Milan venue is showing strong demand, with nearly a triple-digit number of bookings requested even during its final construction stages. The company is also excited about starting work for the 2028 Los Angeles Olympics in 2026.	About CompetitionCTS Eventim notes that its dominant markets in the EU are seeing more regulation, but this is not a holdback as being the biggest ticketing platform in Europe allows them to provide aftermarket liquidity with fanSALE. The broader entertainment industry faces stiff competition for consumer leisure time and wallet share from various entertainment options, including streaming services and gaming, as well as increasing competition within specific live event sub-sectors from new entrants.	About The Broader IndustryThe overall live entertainment industry in Europe and globally is projected to grow by 5% to 7% until 2030-2031. A key challenge for the industry is coping with permanent OpEx inflation, with artists asking for more money and infrastructure costs rising, necessitating rolling over these costs to ticket prices to maintain profitability. A significant industry problem is that many potential attendees do not receive event information in time. Global consumer demand for unique, 'AI-proof' in-person experiences continues to drive robust attendance and ticket sales. However, the evolving global economic outlook, characterized by uneven growth, persistent inflationary pressures, and cautious consumer spending, is expected to continue shaping demand for live events.	Where Things Are HeadedCTS Eventim confirmed its group KPIs and ticketing outlook for 2025, with Q4 2025 expected to be the main quarter for earnings. The company anticipates positive impacts from its festival portfolio review starting next year and expects the Live Entertainment segment to operate within its target margin corridor (6% to 8% EBITDA margin) in 2026. Material increases in mobile ticketing penetration rates are expected to be reported starting next year, with mobile infrastructure being key to capturing value and cross-selling opportunities over the next few years. Integration costs for See Tickets and France Billet are planned to be fully absorbed by 2026. The Milan venue is on track for its opening act with the Winter Olympics, followed by numerous live music shows, though 2026 will still be a ramp-up year.	Updates On ThemeLive	Broader Themes EmergingDigital transformation and mobile engagement are emerging as crucial themes, with mobile infrastructure being key for direct customer connection, cross-selling, and upselling opportunities. The integration of AI and immersive technologies for personalization, dynamic pricing, and enhanced fan experiences is also a significant broader theme across the industry.	Bullish-Leaning Quotes (Short)We are leaving the noise of Q2 behind, and we are talking about strong signals we've seen in Q3. Ticketing has posted positive like-for-like growth in the third quarter. Live Entertainment returned to growth in the third quarter after a muted Q2. All the arrows point in the right direction and show a green color. Q3 posted the highest revenue over the last 7 quarters. Overall, we see that the Live Entertainment segment has returned into its target margin corridor with 7% in Q3. Mobile infrastructure is key. And this won't be a bottleneck for us to utilize the opportunities and capture the value over the next couple of years for CTS Eventim.	Bearish-Leaning Quotes (Short)Despite ongoing integrations from See Tickets and France Billet. The negative trend in the financial results is mostly determined by what we have discussed already with the H1 numbers. Overall, in that part of the value chain, you have to cope with permanent OpEx inflation, artists asking for more money. It is unrealistic to expect for the fourth quarter now an impact that will reverse what we have seen in the first half. The evolving global economic outlook, characterized by sturdy but uneven growth, persistent inflationary pressures, and cautious consumer discretionary spending, will continue to shape demand for live events.	HiringThe company is hiring new responsibilities, starting at the top with Karel Dorner as a CTO, who has brought on new colleagues for products, overall IT infrastructure, and development. A new CFO will also be welcomed at the beginning of next year, bringing expertise in M&A and broader finance.

NotesTable

Date	Comment	Comment Type	Comment Sentiment	Link	Price Reaction
2026-08-20	CTS Eventim reported strong H1 2026 results, with group revenue up 17% and adjusted EBITDA up 12.4%, driven by ticketing and live entertainment growth, and international expansion. Despite conservative guidance due to geopolitical concerns, the stock outperformed SPY by 2.40% (2.51% vs 0.11%) in the two days post-earnings, indicating positive market perception of its robust performance and strategic initiatives like the LA28 Olympics partnership and Unipol Dome ramp-up.	Earnings Transcript	Neutral		+2.51% (vs SPY: +2.40%)

Upcoming EventsTable

Catalyst ID	Estimated Timing	Estimated Date Start	Estimated Date End	Catalyst	Why It Matters	Ticker Or Theme Specific	Transcript Date	Source Type
EVD.XETRA_7ac283b4	on the 20th November 2026	2026-11-20	2026-11-20	CTS Eventim will host its Capital Markets Day, concluding with a Muse concert at the Unipol Dome in Milan.	The Capital Markets Day will provide a detailed strategy and business plan until 2030, offering crucial long-term guidance and showcasing the operational capabilities of the new Unipol Dome, which can positively impact investor sentiment.	Ticker	2026-08-20	earnings_transcript