SBC News Voice of the Sports Betting Industry
Having boosted its industry affiliate marketing network, through strategic M&A Stockholm Nasdaq-listed Catena Media has recorded a doubling in its corporate revenues to €15.2 million (Q1 2016: €7.5 million).
Publishing its Q1 2017 interim report (period ending 31 March), Catena has reported growth across all its core metrics, with the acquisition specialist reporting a 150% boost to +80,000 in new depositing players across its network assets.
Closing a busy Q1 period, in which Catena carried out two media acquisitions increasing its coverage within the Scandinavian market, the Nasdaq enterprise would report a period EBITDA of €7.2 million (Q1 2016: €3.3 million).
Catena governance would report a period operating profit of €6.6 million (Q1 2016: €3.1 million), as the media group asses its industry options.
This week Catena governance detailed that it was reviewing whether to release a further €50 million in funding from its €100 million Nasdaq bond issue. The secured bond financing which has been used to acquire Catena industry related assets, carries an interest payment from 2019 onwards.
Catena Media CEO Robert Andersson commented on the period performance: “The first quarter of the year is seasonally strong and we are pleased to note stable growth numbers in our existing assets. AskGamblers is a great example of assets which we acquired early last year and which have trended very positively since.
“The fast pace of growth has also given us a delicate problem of outgrowing our office space in London, Malta and Serbia. We have therefore moved our offices in London and Serbia during the first quarter and will move in Malta during the third quarter. We have also expanded our efforts in Budapest where we have our outsourced technology teams.
“As a consequence of our current M&A pipeline in combination with strategic initiatives, the Board of Directors has decided that the move to the Nasdaq Stockholm main market would be best suited to H2 2017.
The decision enables us to keep a clear focus on the business and our growth strategy, while we make sure to utilise the opportunities ahead. The company has made most of the necessary preparations already and is well prepared for the move.”
