Catena Media has outlined its plans to pursue new M&A opportunities and international expansion as it seeks to grow the global footprint of its affiliate marketing network.
Publishing its Q3 trading statement (period ending 30 September), Stockholm-listed Catena noted that its operating revenue amounted to €24.9 million, down 6% from €26.4 million in the same period last year.
New Depositing Customers (NDCs) totalled 94,710, decreasing by 5% from 2019’s 99,435. Meanwhile EBITDA for the three-month period was up 4%, amounting to €12 million, up from €11.5 million.
Undertaking a review of the company’s strategic direction, Catena Media outlined its plans to increase focus on the US market as demand for igaming continues to grow across regulated markets. With this, Catena aims to achieve ‘profitable double-digit organic growth annually over the period’.
In a statement, Catena Media said: “The US business will be a core revenue driver, supported by continued geographical expansion into Latin America, Asia and certain central European markets.”
The affiliate also confirmed that it would ‘positively evaluate’ investments into M&A’s to further strengthen its position in strategic markets.
Commenting on the results, Per Hellberg, Catena Media CEO, said: “Continued strong performance in the US and the recent strategic review reveal a bright future.”
For the period January – September 2020, operating revenue totalled €79.4 million, up 4% from €76.3 million in 2019.
Organic search revenue increased by 11%, up from €65 million in 2019 to €72.3 million. NDCs decreased, however, falling by 2% from 323,423 to 318,565. EBITDA was up by 23%, totalling €39.7 million, compared to €32.2 million in 2019.
Source: SBC News
