Catena reports ‘best ever quarter’ as company eyes new market expansions

Stockholm-listed industry affiliate marketing network, Catena Media has detailed its ‘best ever trading quarter‘ as the company homes in on full-year 2017 corporate targets.

Presenting its first trading update as a Nasdaq Stockholm main market enterprise, Catena would record Q3 2017 (period ending 30 September) corporate revenues of €17.2 million up 61% on corresponding Q3 2016’s €10.7 million.

Focusing on organic growth combined with strategic M&A for its expanding network, Catena would report a period EBITDA of €8.8 million (Q3 2016: €4.9 million).

Further reporting that new depositing customers during the period had surpassed +100,000, Catena governance would declare operating profits of €7.5 million (Q3 2016: €4.6 million).

For its year-to-date performance, Catena revenues total €47.5 million, combined with a corporate EBITDA of €22.3 million. The affiliate network further details that it has increase YoY operating profits to €19.6 million.

Issuing a forward-looking statement, Catena governance details that it will open a Tokyo based office to aid its Asian expansion during Q4, whilst bringing new innovations to market to support its established market operations.

Updating investors, Henrik Persson Ekdahl, Acting CEO of Catena Media commented on Q3 2017 performance:

“Casino and sport both performed strongly in Q3 and this trend appears to continue through Q4. Preparations ahead of the 2018 Winter Olympics and the FIFA World Cup are in full swing. We are expectant and optimistic about our strategic, operational and financial performance, and we eagerly anticipate the new, forthcoming challenges that await.”

“One of the opportunities for 2018 is the opening of Pennsylvania as a regulated state for online gambling.  On 25th October the Senate approved the bill, followed by the house on the 26thand the final signing by the governor that took place on 30th October. Catena Media expect a gradual development of the Pennsylvania business and to be live within 9-12 months. We also have very strong domains like PlayUSA.com, PlayPennsylvania.com and USPoker.com. Following this opening, Catena Media will continue to strengthen its presence on the US market in line with the company’s growth strategy.