Catena Media announced a strong start in January and the business has since continued to deliver strong performance for the rest of the quarter, leading to preliminary estimated quarterly all-time high revenues.
The solid outcome is primarily the result of a dedicated team effort to leverage the global business’ strong market momentum and particularly the strong performance of the US business, supported by the successful launch of operations in Michigan and Virginia during January.
The revenues are estimated to be in the range of €39.1m to €40.4m (Q1 2020: €26.7m), reflecting an estimated increase in the range of 46 to 51 per cent compared to the same period last year and a record in quarterly revenues for the company.
The adjusted EBITDA, excluding items affecting comparability, is estimated to be in the range of €23.9m to €25m (Q1 2020: €12.9m), reflecting an estimated increase in the range of 85 to 94 per cent compared to the same period last year and a record in quarterly earnings for the company.
The adjusted EBITDA margin is estimated to be in the range of 59 to 62 per cent (Q1 2020: 48 per cent).
”This trading update reaffirms our strong start to the year and I am excited and proud of our teams’ exceptional focus on driving our global portfolio of affiliation brands and the resulting performance,” said Michael Daly, CEO of Catena Media