SBC News Voice of the Sports Betting Industry
Ahead of its Capital Markets Day (6 December), Stockholm-listed industry affiliate network Catena Media has announced that it has reset its enterprise long-term financial targets, as corporate governance seeks to extract optimal value for its investors.
Updating stakeholders, Catena’s Board has set the enterprise target of generating a group EBITDA in excess of €100 million (£90 million) by the year 2020.
In order to achieve its corporate 2020 target, Catena governance states that the company will sustain its ‘accelerated’ double digit percentage growth, driven by the combination of increased organic revenues and strategic acquisitions expanding its affiliate network capabilities.
Setting its corporate goal, Catena governance details that its short to medium term goal is to operate with Net Debt / EBITDA* in the range 1.5-2.5x. The company may elect to operate temporarily outside this span under certain circumstances and during limited time periods.
Catena Media details that it does not intend to pay any dividend prior to 2020, and that previously communicated financial targets expire.
This November, Catena informed that it has undertaken its first corporate acquisition outside of the online gambling industry, acquiring Malta-based European financial services advertising network Beyondbits.
The acquisition increased Catena Media’s footprint in the DACH region (Germany, Austria and Switzerland).
