Catena Media sees Q1 growth despite coronavirus impact

By Iqbal Johal

Despite the coronavirus pandemic impacting its sports segment, Catena Media saw Q1 revenue increase 2% year-on-year.

Operating revenue grew to €26.7m ($29.3m), while adjusted EBITDA rose 15% to €12.9m.

The affiliate's operating profit rose 16%, to €9m.

Up to 31 March, cash and cash equivalents were €19.3m, up from 2019’s figure of €9.3m, although new depositing customers decreased 4% to 119,529.

Catena's casino segment represented 61% of total revenue, at €16.4m, with sports betting accounting for €8.7m.

Growth in organic search revenue increased 10% from last year to a record high, while the affiliate has seen continued growth in the US, despite the COVID-19 impact. April revenue was up 17%.

Catena Media CEO, Per Hellberg, said: "We continue to execute on our long-term strategy and are starting to see good results on the actions and investments we carried out last year.

"As countries start to open again, people will get back to work, sports events will kick off and we will continue our growth journey."

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