Nov 21 (Reuters) - CTS Eventim on Thursday

said its revenue surpassed 2 billion euros ($2.1 billion) for

the first time in a nine-month period this year, driven by its

diverse ticketing portfolio and expansion both organically and

through acquisitions.

Despite challenging economic conditions and high costs, CTS

Eventim still expects its adjusted core profit to increase

significantly in 2024.

"CTS EVENTIM is continuing to deliver stable growth in an

increasingly volatile political and economic environment," CEO

Klaus-Peter Schulenberg said in a statement, highlighting its

strategy of rapid expansion and financial resilience.

The company has been expanding its footprint with long-term

investments, including an arena project in Vienna, and ticketing

partnerships for the 2026 Milan and 2028 Los Angeles Olympics.

Sales of its ticketing segment rose 22.9% to 564.6 million

euros between January and September, notably boosted by presales

for tours by artists like Ed Sheeran and Iron Maiden.

The German ticketing group's core profit, or adjusted

earnings before interest, taxes, depreciation and amortisation

(EBITDA), rose 12.1% to 322.7 million euros in the nine-month

period.

Live Nation Entertainment ( LYV ), CTS Eventim's main

competitor and the world's largest concert promoter, recently

reported its first revenue decline since 2021, falling 6% to

$7.65 billion in the third quarter, below analysts' estimates.

($1 = 0.9488 euros)