The Scandinavian performance marketing firm, Catena Media, experienced remarkable expansion in the initial six months of 2017, witnessing a 78% revenue surge compared to the corresponding period the year prior. This leap propelled their cumulative revenue for the first two quarters to €30 million, nearly twice the €17 million generated in the first half of 2016.
Profitability mirrored this upward trend. Operational earnings for the first half of 2017 reached €12 million, a 45% climb from the €8.25 million secured in the parallel timeframe the preceding year. Even more notably, earnings before interest, taxes, depreciation, and amortization (EBITDA) escalated by 55%, hitting €13.49 million in contrast to €8.66 million in the first six months of 2016.
Catena Media also marked an unprecedented volume of fresh depositing clients, a clear indicator of their expanding influence. This crucial metric soared by 115%, with 171,643 new depositing clients in the first half of 2017 compared to 79,851 in the identical period the previous year.
Robert Andersson, Chief Executive Officer of Catena Media, conveyed significant confidence in the company’s trajectory. He underscored their “robust foundational performance” and the positive forecast for the latter half of the year, particularly with the commencement of the athletic season in mid-August.
Andersson emphasized the company’s belief in its strategic course, operational effectiveness, and financial advancement. He posits that Catena Media is well-situated for sustained prosperity, fueled by inherent growth in established and developing sectors, in addition to tactical acquisitions.
Catena Media, an organization that links individuals with internet betting platforms, recently declared positive financial performance despite encountering a prohibition in the Netherlands. The Dutch gambling regulatory body imposed the ban after determining that Catena’s promotional tactics for its online gaming brands breached local rules.
Chief Executive Michael Andersson responded to the circumstance, affirming that Catena Media is dedicated to maintaining conformity standards and functioning legally. He clarified that the business has provisionally pulled back from the Dutch market to guarantee complete adherence to the more stringent regulations recently implemented by the Dutch Gaming Authority. Although this choice will momentarily affect income by an approximated €1-1.5 million monthly, Andersson trusts it will ultimately help the company over time should the Dutch market become more receptive to regulation in the coming years.
