Published
FinancialMarketingIndustryAffiliate

Catena Media posts Q2 slump despite record Q1

Catena Media has posted its Q2 financial results, which show an annual revenue drop of 5%, generating €28.9m ($29.4m) for the quarter against 2021’s €30.4m. 

catena media q2 2022 results gambling insider web image

In the affiliate's report, it also noted its EDITBA saw a 40% fall, posting €9.1m for the three months ending in June.

This is in contrast with Catena’s Q1 results, which saw the company reveal revenue of €45.2m, up 11% on 2021.

Overall, Catena’s H1 still shows a 4% increase in revenue, with €74.1m taken across the first six months, though EBITDA for H1 showed a 14% decrease on 2021.

The news of Catena’s loss in Q2 may have come as a shock to many, after the affiliate launched in Louisiana and New York in Q1 – which was expected to buoy the Q2 results as it had in Q1.

Michael Daly, Catena Media CEO, commented on the disappointing results, saying: “Q2 proved a challenging quarter for Catena Media as largely external factors led to a disappointing 5 percent dip in group revenue and a margin squeeze in parts of the business that caused adjusted EBITDA to decrease by 40%."

He added: “A sharp deterioration in global economic conditions affected trading in multiple markets, denting performance in parts of our online sports betting and casino portfolio just as we had taken on extra cost to support new market launches and product upgrades.”

The share price of Catena reacted as expected after the Q2 report dropped, tumbling 3% when the market opened – though, it began to rise again shortly after.

The anticipation of these results may well coincide with the affiliate's strategic review of its operations.

 

Industry News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Executive Profiles
Pragmatic Play
Flutter Entertainment
Groupe FDJ
Metropolitan Gaming

Global Gaming Awards London: Who will win Executive of the year 2023?

Gambling Insider takes a look at the nominations list for 20...

CEO Special: Flutter International CEO Dan Taylor returning to roots

Flutter International CEO Dan Taylor meets Louis Thompsett t...

CEO Special: Light & Wonder Gaming CEO Siobhan Lane - optimising superpowers

Siobhan Lane, Light & Wonder Gaming CEO, speaks to Gambling...

CEO Special: Hoiana Resorts' Steve Wolstenholme – the travel man

Hoiana President & CEO Steve Wolstenholme talks to Gambling...

Read Magazine