Catena Reports Marginal Revenue Increases

Affiliate giant Catena Media has reported a 3% rise in revenue from €102.8m to €106.0m (£88.62m/$125.52m) for 2020.

The small amount of full year growth came off the back of a stagnant Q4, in which there was a marginal rise in overall revenue and organic search revenue rose by 2% from €23.3 to €23.7m.

Adjusted EBITDA increased by 9% to total €12.3m from €11.3, corresponding to an adjusted EBITDA margin of 46%.

The Malta-based company reported a 10% year-on-year rise in new depositing customers, to hit 124,959 between October and December 2020.

Across 2020, the firm was able to report a 9% rise in organic search revenue, from €88.3m to €95.9m.

Adjusted EBITDA for the full year increased by 20% to a total of €52.0m from €43.5, corresponding to an adjusted EBITDA margin of 49%.

Fourth quarter revenues were generated mainly by casino, which accounted to 60% of the total at €16m, while the sports segment accounted for 35% or €9.3m.

The remaining 5% came from Catena Media’s financial services arm, which posted €1.3m.

Incoming CEO Michael Daly said: “Catena Media had an exceptional ending to a strong quarter, breaking an all-time high in USD revenues in December, thanks to our ability to take and maintain dominant positions in both sports and casino across numerous states during the busiest sports season in the US.”

The firm reported that its US igaming business is developing well in the burgeoning market, with a share of 31 percent of total revenues in Q4 (43% growth) and 30% of total annual revenues (72% growth).

It also claimed to have a had a strong start to 2021 with year-on-year revenue growth of 58% in January.

Daly will take up the position of CEO on 1 March 2021, replacing interim CEO Göran Blomberg who will resume his role as chairman of the board. Per Hellberg left the company on Thursday 7 January.


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