Catena expects further casino growth despite Covid-19 impact

Catena expects further casino growth despite Covid-19 impact

Catena Media has reported a 5.7% year-on-year increase in revenue for the two months to 29 February, with the affiliate marketing giant saying that it anticipates further growth amid the novel coronavirus (Covid-19) pandemic.

Published 25th March 2020

In a trading update, Catena revealed that revenue for January and February amounted to €18.0m (£16.4m/$19.5m), with casino revenue accounting for 59% of the total figure, sports 35% and financial services 5%.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for the two-month period increased 16.6% year-on-year to €8.6m with a higher margin of 47.9%, compared to 43.4% in 2019.

Catena also noted that adjusted EBITDA, excluding non-recurring costs, was up 19.9% to €8.9m, with an increased margin of 49.2%.

The affiliate business did not make any major investments during the period and, by the end of February, it had cash and cash equivalents of €19.2m and a net interest-bearing debt position of €162.5m.

Read the full story at iGB.

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