Affiliate marketing giant Catena Media has provided a trading update on the outcome of the first quarter of 2020 and an update of operational performance in April 2020.
Revenues increased by 2% in Q1 2020 compared to the same period in 2019 and amounted to EUR 26.7m (26.1m). Adjusted EBITDA excluding exceptional costs increased by 15% compared to the same period last year and amounted to EUR 12.9m (11.2m). EBITDA increased by 12% compared to the same period last year and amounted to EUR 12.5m (11.2m).
The casino segment represented 61% of the company’s revenues during Q1 2020, sports revenues represented 33% and financial services revenues represented 6%. EBITDA margin for casino amounted to 60%, for sports 31% and financial services 24%.
Catena Media made no major investments during Q1 2020. As of March 31, Catena Media had cash and cash equivalents of EUR 19.3m and a net interest-bearing debt position of EUR 143.2m.
“Our business remains strong and I am happy to see that revenues in the first quarter increased compared to last year and that April has continued to develop well, despite weaker performance from the Sports segment. Our measures to improve cost-efficiency – especially during these difficult times – allowed us to increase profitability by 15 percent compared to last year. Further, it makes me proud to see that our employees continue to achieve great things while working remotely,” Per Hellberg, CEO of Catena Media, said.
The company has also provided an update on the impact of Covid-19 on its business. The company experienced limited negative operational effects.
The company said that temporary limitations for iGaming operators which are implemented by the gaming authorities in some jurisdictions in light of the Covid-19 outbreak may have a short-term impact on average player values. The company expects that most of the impact will be offset by an increase in the number of players.
The overall operational business performance in April 2020 has continued in line with the last two weeks in March 2020.