Cts Eventim AG & Co KgaA
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Intrinsic Value
The intrinsic value of one EVD stock under the Base Case scenario is 71.75 EUR. Compared to the current market price of 93.5 EUR, Cts Eventim AG & Co KgaA is Overvalued by 23%.
The Intrinsic Value is calculated as the average of DCF and Relative values:
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Cts Eventim AG & Co KgaA
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Fundamental Analysis
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CTS Eventim AG & Co KGaA is a leading European player in the live entertainment and ticketing sectors, seamlessly merging technology and culture to create unforgettable experiences. Founded in 2000 and headquartered in Munich, Germany, the company operates a comprehensive ecosystem that spans ticketing services, event promotion, and venue management. With a robust portfolio that includes major concerts, festivals, and sports events, CTS Eventim serves millions of customers annually. Their innovative ticketing platform is complemented by strategic partnerships with numerous venues and event organizers, giving them a competitive edge in the rapidly evolving entertainment landscape. As an inve...
CTS Eventim AG & Co KGaA is a leading European player in the live entertainment and ticketing sectors, seamlessly merging technology and culture to create unforgettable experiences. Founded in 2000 and headquartered in Munich, Germany, the company operates a comprehensive ecosystem that spans ticketing services, event promotion, and venue management. With a robust portfolio that includes major concerts, festivals, and sports events, CTS Eventim serves millions of customers annually. Their innovative ticketing platform is complemented by strategic partnerships with numerous venues and event organizers, giving them a competitive edge in the rapidly evolving entertainment landscape.
As an investor, the appeal of CTS Eventim lies in its strong market positioning and growth potential. With the global entertainment industry bouncing back from the pandemic, the demand for live events is surging, paving the way for increased ticket sales and profitability. The company's agile business model, which emphasizes digital ticketing solutions and customer engagement, positions it well to capitalize on this revival. Additionally, CTS Eventim's commitment to sustainability and social responsibility resonates with today’s consumers and investors alike, making it a company that is not only focused on financial success but also on contributing positively to the community. Through strategic expansions and continuous innovation, CTS Eventim is poised to capture a larger share of the live entertainment market, promising a compelling investment opportunity for those looking to benefit from the renaissance of live events.
CTS Eventim AG & Co. KGaA is a prominent European company specializing in ticketing and live entertainment. Its core business segments can be broadly categorized as follows:
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Ticketing:
- This segment involves the development and operation of ticketing systems for various events, including concerts, sports, theater, and other live performances. CTS Eventim provides ticketing solutions not only for its own events but also partners with other event organizers and venues, offering services like online ticket sales, box office management, and mobile ticketing.
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Live Entertainment:
- CTS Eventim is heavily involved in managing and promoting live events, including concerts, festivals, and tours across Europe. This segment encompasses the organization of major events and collaborations with artists, performers, and venues to create memorable experiences for audiences.
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Event Venue Management:
- The company often operates or partners with various venues, facilitating event management and logistics. This may include overseeing the operations of arenas, theaters, and other facilities where events are held, ensuring that both event promoters and attendees have a seamless experience.
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Marketing and Promotion:
- Within the live entertainment segment, CTS Eventim engages in marketing and promotional activities for events. This includes leveraging digital marketing, social media, and traditional advertising to drive ticket sales and enhance the visibility of the events they manage or promote.
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Corporate Solutions:
- CTS Eventim also provides ticketing and event management solutions tailored for corporate clients, including those in the hospitality and tourism industries. This can involve customized ticketing options for corporate events, employee incentives, and travel packages.
These core business segments contribute to CTS Eventim's strategy of being a leading player in the ticketing and live entertainment market in Europe. The company continually adapts to market trends, consumer behavior, and technological advancements to enhance its offerings and maintain its competitive position.
CTS Eventim AG & Co KGaA possesses several unique competitive advantages that set it apart from its rivals in the ticketing and live entertainment industry:
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Market Leadership: CTS Eventim is one of the largest ticketing service providers in Europe. This scale allows the company to negotiate better deals with event organizers and venues, creating a network effect that attracts more customers and events.
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Technological Sophistication: The company has invested heavily in its digital platforms. Its ticketing systems are highly advanced, offering features like dynamic pricing, real-time analytics, and mobile ticketing, which enhance the customer experience and streamline operations for event organizers.
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Diverse Revenue Streams: Beyond ticket sales, CTS Eventim is involved in various related sectors, such as event management and promotion. This diversification helps stabilize revenues and offsets risks associated with any single channel.
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Strong Partnerships and Exclusive Contracts: CTS Eventim has established exclusive agreements with key event organizers, promoters, and venues. These partnerships increase its market share and make it difficult for competitors to penetrate these lucrative deals.
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Member Loyalty Programs: The company invests in customer loyalty programs that encourage repeat purchases. Such initiatives help build long-term relationships with consumers and increase customer retention rates.
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Extensive Data Utilization: CTS Eventim leverages big data analytics to understand customer preferences better, optimize marketing strategies, and tailor its offerings. This data-driven approach helps them stay ahead of market trends.
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Brand Reputation: Being a well-established name in the industry, CTS Eventim enjoys a significant brand equity, which builds trust and attracts customers to its platforms over newer or lesser-known competitors.
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Geographical Diversification: The company operates in multiple countries, which mitigates the risks associated with market fluctuations in any single region and allows it to capture new growth opportunities in various markets.
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Proprietary Technology: Ownership of its software solutions gives CTS Eventim a significant edge in controlling its processes, responding quickly to market demands, and integrating new technologies as they become available.
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Strong Customer Service: The focus on providing excellent customer support leads to higher satisfaction rates and encourages word-of-mouth promotion, fostering a loyal customer base.
These advantages create a robust operating environment for CTS Eventim, allowing it to maintain a competitive edge in a rapidly evolving industry.
Cts Eventim AG & Co KGaA, a leading ticketing and live entertainment company, faces several risks and challenges in the near future. Here are some key considerations:
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Pandemic-Related Uncertainty: The COVID-19 pandemic has profoundly impacted the live events and entertainment industry. Even as restrictions ease, uncertainties about future variants and public health responses can affect attendance at events.
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Economic Downturn: Economic challenges, such as inflation or a recession, may lead consumers to cut back on discretionary spending, including entertainment and live events. This could significantly impact ticket sales.
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Competition: The event ticketing and entertainment market is highly competitive, with several players vying for market share. Innovations from competitors could erode Cts Eventim’s customer base and profit margins.
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Technological Changes: Rapid technological advancements require continuous investment. Failing to adapt to new technologies in ticket sales, event management, and customer engagement could leave the company behind.
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Regulatory Changes: Changes in regulations related to ticket sales, consumer rights, data protection, or public safety could impose additional operational burdens or limit profitability.
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Economic and Political Factors: Global events, such as geopolitical tensions, trade agreements, or local regulations, can impact the company's operations and market access.
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Dependency on Live Events: A significant portion of Cts Eventim’s revenue comes from live events. Any shifts towards digital or virtual events may require a strategic pivot that could strain current business models.
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Reputation Management: Negative publicity resulting from customer experiences, data breaches, or controversies surrounding events could harm the brand and impact sales.
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Currency Fluctuations: As a company operating in multiple countries, fluctuations in currency exchange rates may affect revenue and profitability.
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Environmental and Social Governance (ESG): There is increasing scrutiny on companies regarding their environmental impact and social responsibility. Failing to address ESG concerns could lead to reputational damage and impact stakeholder relationships.
Addressing these risks will require proactive strategies, including diversification, technological investment, robust risk management, and a focus on customer engagement to maintain and potentially expand market share.
Revenue & Expenses Breakdown
Cts Eventim AG & Co KgaA
Balance Sheet Decomposition
Cts Eventim AG & Co KgaA
Current Assets | 2.1B |
Cash & Short-Term Investments | 1.5B |
Receivables | 202.3m |
Other Current Assets | 352.5m |
Non-Current Assets | 1.5B |
Long-Term Investments | 211.1m |
PP&E | 361.6m |
Intangibles | 853.9m |
Other Non-Current Assets | 65.8m |
Current Liabilities | 2.3B |
Accounts Payable | 442.1m |
Other Current Liabilities | 1.9B |
Non-Current Liabilities | 371.1m |
Long-Term Debt | 162.3m |
Other Non-Current Liabilities | 208.8m |
Earnings Waterfall
Cts Eventim AG & Co KgaA
Revenue
|
2.5B
EUR
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Cost of Revenue
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-1.9B
EUR
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Gross Profit
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667.3m
EUR
|
Operating Expenses
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-247.2m
EUR
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Operating Income
|
420.1m
EUR
|
Other Expenses
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-105.5m
EUR
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Net Income
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314.5m
EUR
|
Free Cash Flow Analysis
Cts Eventim AG & Co KgaA
EUR | |
Free Cash Flow | EUR |
CTS Eventim experienced a robust first half of 2024, with revenues up by 18% and adjusted EBITDA growing by 29%. This growth was driven by high demand in their Ticketing, Live Entertainment, and Venue Management segments. The company executed a significant acquisition, integrating See Tickets and Vivaldi Live Entertainment. See Tickets contributed nearly €26 million in revenues and €2.5 million in EBITDA in June alone. Earnings per share reached €1.30. Given the ongoing strong performance and strategic additions, CTS Eventim raised its outlook for 2024.
What is Earnings Call?
EVD Profitability Score
Profitability Due Diligence
Cts Eventim AG & Co KgaA's profitability score is 72/100. The higher the profitability score, the more profitable the company is.
Score
Cts Eventim AG & Co KgaA's profitability score is 72/100. The higher the profitability score, the more profitable the company is.
EVD Solvency Score
Solvency Due Diligence
Cts Eventim AG & Co KgaA's solvency score is 74/100. The higher the solvency score, the more solvent the company is.
Score
Cts Eventim AG & Co KgaA's solvency score is 74/100. The higher the solvency score, the more solvent the company is.
Wall St
Price Targets
EVD Price Targets Summary
Cts Eventim AG & Co KgaA
According to Wall Street analysts, the average 1-year price target for EVD is 97.41 EUR with a low forecast of 80.8 EUR and a high forecast of 119.7 EUR.
Dividends
Current shareholder yield for EVD is .
Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?
Profile
Country
Industry
Market Cap
Dividend Yield
Description
CTS Eventim AG & Co. KGaA engages in ticketing and live entertainment event management. The company is headquartered in Bremen, Bremen and currently employs 2,813 full-time employees. The company went IPO on 2000-02-01. The firm operates in two segments namely Ticketing and Live Entertainment. The objects of the Ticketing segment are to promote, sell, broker, distribute, and market tickets for cinema, concert, theater, art, sports and other events in Germany and abroad, using data processing and data transmission technologies. Its tickets are marketed through its network platform (eventim.net), its in-house ticketing product (eventim.inhouse), the sports ticketing product (eventim.tixx) and a proprietary solution for ticket sales and admission control in stadiums and arenas. The objects of the Live Entertainment segment are to plan, prepare and execute tours and events, especially music events and concerts, and to market music productions. Internationally venues are also operated. The firm operates kinoheld GmbH as a majority owned subsidiary.
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The intrinsic value of one EVD stock under the Base Case scenario is 71.75 EUR.
Compared to the current market price of 93.5 EUR, Cts Eventim AG & Co KgaA is Overvalued by 23%.