Catena Media revenue and EBITDA down for H1

By Tim Poole

Catena Media’s Q2 revenue fell 9% to €23.7m ($26.3m), resulting in a 0.4% decrease in H1 revenue to €49.8m.

EBITDA also fell for both Q2 (22% to €9.4m) and H1 (8% to €22.5m), while the affiliate's number of new depositing customers fell for both trading periods, 29% and 18% respectively.

Net cash generated from operating activities did rise for Q2, by 20% to €10.5m, and H1, by 3% to €19.5m.

Earnings per share grew from €0.10 to €0.12 before dilution for Q2, although this fell from €0.19 to €0.15 for H1.

Catena CEO Per Hellberg said: “We have completely rebuilt many of our sites, improved our business model and prepared expansion into new markets.”

The affiliate’s model has involved a series of acquisitions in recent years, with Catena focusing heavily on its US business in the long term.

Upon Catena's financial update, the company's share price fell from SEK 52.00 ($5.38) at the close of trading on Friday to SEK 42.80, a fall of approximately 18%.

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