Sweden based affiliate provider Catena Media has revealed that its year-on-year group revenue for the first half of 2017 has increased by 78% when compared to the same period of 2016.
In its first half yearly update of 2017, the company revealed H1 group revenues of €30m, almost doubling the corresponding H1 2016 group revenue figure of €17m.
Company operating profits also grew in the first half of 2017, rising 45% from its H1 2016 total of €8.25m to gross operating profits of €12m in the corresponding period of 2017.
Catena Media earnings before interest tax depreciation and amortisation also experienced a similar increase, rising 55% from a H1 2016 figure of €8.66m to an H1 2017 figure of €13.49m.
The number of new depositing customers increased year-on-year by a record 115% rising from 79,851 in H1 2016 to over 171,643 new depositing customers in the first half of 2017.
In a statement released with the financial results, Catena Media CEO Robert Andersson said: “With strong underlying developments and the sports season starting full throttle mid-August, the table is set for a very exciting second half of the year.”
“We remain optimistic on our strategic, operational and financial development, and are confident that we will continue to grow in the same successful way, both through organic growth and through acquisitions across existing and new geographic markets.”
Its good financial figures come following the issuing of a cease and desist order by the Dutch Gaming Authority after it found that Catena had breached Dutch regulations in its company advertising of iGaming brands.
Responding to the speculation surrounding this order, Andersson added: “Catena Media adheres to strict compliance standards regarding the operators to whom it supplies traffic through its affiliate network and operates in compliance with applicable laws.“
“Recently, the Dutch Gaming Authority, KSA, decided to take a stricter approach to iGaming sites that target Dutch players, and as a result Catena Media decided to temporarily withdraw from the Dutch market to fully comply with applicable law. Short term this will impact revenues negatively by approximately EUR 100-150 thousand per month, but longer term it puts us in a favourable position, if and when, the Dutch market re-regulates.”