Affiliate giant Catena Media is targeting further growth after increasing its third-quarter revenues and EBITDA.
In Q3 2018, the Stockholm-listed firm recorded revenues up by 60 per cent to €27.7m (Q3 2017: €17.3m), with EBITDA up by 52 per cent to €13.4m (€8.8m). That corresponds to an EBITDA margin of 48 per cent (51 per cent).
Adjusted EBITDA, excluding non-recurring costs, increased by 43 per cent and totalled €13.6m (€9.5m), corresponding to an adjusted EBITDA margin of 49 per cent (55 per cent).
New depositing customers totalled 138,194 (100,741), an increase of 37 percent, in a quarter that saw director Anders Brandt voluntarily resign, to be replaced on the board by Öystein Engebretsen.
Per Hellberg, Catena’s CEO, said: “It´s my believe that Catena Media´s business, through being in the sweet spot of the value chain, has substantial growth opportunities ahead.”
Total revenues for the first three quarters was up by 63 per cent to €77.6m (€47.6m), with EBITDA up by 61 per cent to €35.9m (€22.3m), corresponding to an EBITDA margin of 46 per cent (47 per cent).
