CTS Eventim slumps as Q2 misses expectations

** Shares in CTS Eventim EVD drop 12% in early Frankfurt trade after the German ticketing firm reported Q2 results below expectations

** Baader Helvea analyst Volker Bosse says that both sales and earnings for Q2 were below expectations

** "Big miss on Q2 EBITDA (c25% below consensus)," Berenberg analyst Gerhard Orgonas says, pointing to the Live Entertainment division

** Q2 consolidated revenue is up by 0.3% on the year to EUR 795.6 million ($925.8 million), while adjusted EBITDA is down 8.9% to EUR 100.2 million

** The company cites "intense and persistent cost pressures" in its Live Entertainment division, which records a 39.7% decline in Q2 adjusted EBITDA on the year

** It points to additional temporary effects from costs related to the integration of acquired See Tickets and its associated U-Live companies

** "We expect a MSD% cut to consensus FY25 adj. EBITDA as expectations will likely trend to the lower end of CTS guidance range" - says J.P. Morgan in a note to clients

** The company confirms its 2025 annual guidance for the group, flags uncertainty from a "challenging macroeconomic picture"

** Up to the previous session's close, shares were up 21.7%​ YTD

($1 = 0.8594 euros)