Catena Media promotes Edward Midolo to CTO
As part of its ongoing organizational changes, Catena Media has announced the promotion of Edward Midolo to Chief Technology Officer.Following Michael Gerrow's...
Catena Media reviews M&A options in effort to pursue international expansion
Catena Media is planning the pursuit of new M&A opportunities in hope of international expansion as it seeks to globalise of its affiliate marketing network.
After publishing its trading statement of the third quarter (which ends on September 30th), Catena claimed that its operating revenue amounted to €24.9 million, a 6% decrease from €26.4 million during the same time last year in 2019.
New Depositing Customers (called NDCs) totalled 94,710, a decrease of 5% from 99,435 in 2019. Meanwhile EBITDA for the three-month period was up 4%, amounting to €12 million, up from €11.5 million. 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, on the other hand, decreased, 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.
Catena Media defined its plans to concentrate on its main target, which is the US market, seeing as the demand for igaming continues to increase across regulated markets. Catena’s goal is to attain ‘profitable double-digit organic growth annually over the period’. It was also stated that the affiliate would ‘positively evaluate’ investments into M&A’s to further implement and claim its position in strategic markets across the globe.
Catena Media stated: “The US business will be a core revenue driver, supported by continued geographical expansion into Latin America, Asia and certain central European markets.”
Per Hellberg, CEO of Catena Media, said: “Continued strong performance in the US and the recent strategic review reveal a bright future.”
Michael Gerrow: Catena Media’s new CFO
Michael Gerrow has been appointed as Catena Media's new Group Chief Financial Officer.Gerrow takes on his new responsibilities on the fifteenth of April of this year.
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