Catena Media has seen operations continue throughout April where it last off the previous month as the firm provides an operational update for the year’s first quarter and beyond.
Publishing preliminary financial results for the period, revenues increased two per cent to €26.7m (2019: €26.1m), with adjusted EBITDA, excluding exceptional costs, raising 15 per cent from €11.2m to €12.9m.
The casino segment represented 61 per cent of the company’s revenues during the first quarter in 2020, as the firm continued to perform well during the period with traffic and NDCs being higher compared to the final quarter of the past year.
The company’s sports segment amounted to 33 per cent with the firm stressing that it continues to work closely with key operators to promote events that are still running, as well as placing an increased focus on converting traffic from a number of sports related sites into casino revenues.
Finally, it was commented that the firm’s financial services segment counted for six per cent, and continued to demonstrate a positive trend.
Per Hellberg, CEO of Catena Media, commented: “Our business remains strong and I am happy to see that revenues in the first quarter increased compared to last year and that April has continued to develop well, despite weaker performance from the sports segment.
“Our measures to improve cost efficiency – especially during these difficult times – allowed us to increase profitability by 15 per cent compared to last year. Further, it makes me proud to see that our employees continue to achieve great things while working remotely.”
Briefly addressing the global pandemic during his statement, Catena Media maintains its stance out forward in a previous trading update that limited negative operational effects have been experienced.
Noting the suggestion or enforcement of temporary limitations for igaming operators in the wake of the outbreak across a number of jurisdictions, Catena believes such moves may have a short-term impact on average player values but most of the impact will be offset by an increase in the number of players.