Affiliate group Catena Media has reported a fall in revenues of five per cent for Q3 2019, with EBITDA down by 15 per cent.
For the period running from July to September, Catena’s revenues stood at €26.4m compared to €27.7m the previous year, while EBITDA was down to €11.4m (€13.4m), corresponding to an EBITDA margin of 43 per cent (48 per cent).
New depositing customers totalled 99,435 (138,194), a decrease of 28 per cent.
During the third quarter, Catena increased the number of shares and votes in Catena Media plc, related to the final earn-out payment for US assets acquired in December 2016. The group also agreed on amended terms for assets in the German sports betting-focused affiliate BayBets, acquired in December 2017.
“After three consecutive quarters of decline, I am happy to announce a trend shift in third-quarter revenues, which increased by 11 per cent compared to the second quarter,” said Catena’s CEO Per Hellberg.
