SBC News Agile Catena delivers Q1 growth despite tough Swedish adjustments

Agile Catena delivers Q1 growth despite tough Swedish adjustments

SBC News Agile Catena delivers Q1 growth despite tough Swedish adjustments
Per Hellberg – Catena Media

Stockholm-listed industry affiliate marketing network, Catena Media Plc remains positive on its 2019 outlook, detailing that it has undertaken the necessary adjustments to meet new regulatory conditions within its home market of Sweden.

Publishing its Q1 2019 trading update, Catena records a revenue increase of 9% to €26 million (Q12018: 24m). Despite growth, the figure is ‘below the expectations’ of Catena governance.

Catena details that it is ‘rebounding from Swedish regulatory effects’, as new restrictions on operators and players impacted the capacity of Catena’s affiliate network during Q1 trading.

In its update, Catena records that period ‘new-depositing-customers (NDCs)’ totalled 124,007 (133,322), representing a -7% decrease.

Despite the adjustments, an ‘agile’ Catena details that operational efficiencies have maintained a positive earnings momentum, with the company reporting a period 8% EBITDA increase to €11.2 million (Q12018: €10.4m).

Catena Chief Executive Per Hellberg, states that following adjustments ‘Catena is building for take-off in the second half of the year’.

“Everything we are doing is now converging in the right direction. We are continuing our long-term transformation, based on the strategies of organic growth, fewer but larger brands and increased cost control. During the first quarter, which also tend to start a bit slower due to seasonal effects, we saw that regulations impacted operators negatively, and us in turn, leading to a quarter where our revenues came in below our expectations. We are agilely adapting to changing conditions and expect to see positive developments from the second quarter onwards.”

Check Also

SBC News Kindred charged with SEK 10m lawsuit by Odd Molly founder 

Kindred charged with SEK 10m lawsuit by Odd Molly founder 

Swedish Media reports that Kindred Group faces a high-profile Stockholm legal challenge summoned by fashion …

LeoVegas

LeoVegas under preliminary investigation by the Swedish Economic Crime Authority

Ekobrottsmyndigheten – Sweden’s Economic Crime Authority has launched a preliminary investigation of LeoVegas AB, with …

SBC News Kindred sharpens proprietary focus to counter post-covid global realities 

Kindred sharpens proprietary focus to counter post-covid global realities 

Kindred Group Plc remains optimistic of its long-term prospects, as short-term European market headwinds have …