(RTTNews) - CTS Eventim AG & Co. KGaA, (EVD.DE), a ticketing and live entertainment service provider, Thursday reported that its nine-month adjusted EBITDA grew 12.1 percent from the prior year to 322.7 million euros, while adjusted EBITDA margin dropped to 15.9 percent from 16.4 percent a year ago.

Consolidated revenue grew 15.8 percent year-over-year to 2.027 billion euros, breaking through the 2 billion euros barrier for the first time in a nine-month period.

The company said the revenue growth reflected organic growth in Germany and the other core European markets, as well as a long-term boost from the recent acquisitions.

Revenue in the Ticketing segment climbed 22.9 percent year on year to 564.6 million euros, and adjusted EBITDA rose 18.4 percent to 240.7 million euros.

The Live Entertainment segment's revenue advanced 13.6 percent to 1.494 billion euros, while adjusted EBITDA edged down 3 percent to 82.1 million euros.

Looking ahead for fiscal 2024, the company continues to expect adjusted EBITDA as a whole to increase significantly year on year.

Klaus-Peter Schulenberg, CEO, said, "CTS EVENTIM is continuing to deliver stable growth in an increasingly volatile political and economic environment. The strategy of boosting rapid expansion and making the portfolio more financially resilient has proved to be key to our Group's long-term performance."

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