Affiliate giant Catena Media has reported revenues of €26.1m for the second quarter, up by 73 per cent from €15.1m year-on-year, but with revenue growth slowing slightly following a period containing an entry into the Italian market and the appointment of new CEO Per Hellberg.
Revenues grew by 9.2 per cent, compared to 19 per cent in Q1 2018. Catena’s share price fell by 9.12 per cent to SEK103.4 (€9.90) on Nasdaq Stockholm this morning following the announcement of the results.
Catena’s EBITDA increased by 93 per cent to €26.1m (Q2 2017: €6.3m), corresponding to a margin of 46 per cent (42 per cent). Adjusted EBITDA, excluding non-recurring costs, increased by 52 per cent and totalled €12.1m (€8m), corresponding to an adjusted EBITDA margin of 46 per cent (53 per cent).
Net cash generated from operating activities was €8.7m (€2.5m) and new depositing customers totalled 140,154 (91,222), an increase of 54 per cent. Earnings per share amounted to €0.10 both before and after dilution.
Significant events for Catena Media during the second quarter included the acquisitions of sports betting firm ASAP Italia, US-based equity service TheHammerstone.com, Australian stock market news and analysis site TheBull.com.au, UK horse racing site gg.co.uk, French sports betting site ParisSportifs.com and financial services site BrokerDeal.de.
