The Scandinavian performance marketing firm, Catena Media, experienced a robust initial six months of 2017, witnessing a 78% surge in income compared to the previous year. This remarkable expansion propelled their earnings to €30 million for the period, nearly twice the €17 million generated in the corresponding period of 2016.
Financial gains also received a substantial uplift. Operational earnings for the first two quarters of 2017 hit €12 million, a 45% climb contrasted with the €8.25 million secured in the identical timeframe of the preceding year. Even more notably, their earnings before deducting interest, taxes, depreciation, and amortization (EBITDA) witnessed a striking 55% leap, reaching €13.49 million compared to €8.66 million in the initial half of 2016.
Catena Media also marked an unprecedented volume of fresh depositing clients, a crucial indicator for their operations. This metric escalated by 115% year-over-year, hitting 171,643 in the first half of 2017, in contrast to 79,851 during the same interval in 2016.
Robert Andersson, Chief Executive Officer of Catena Media, conveyed significant positivity for the remaining months of the year. He underscored the company’s “robust foundational performance” and the projected upswing from the “athletic period commencing in mid-August.” Andersson further emphasized their assurance in Catena Media’s strategic course, operational effectiveness, and financial path. He posits that the company is advantageously situated for sustained prosperity, fueled by natural expansion in current and emerging sectors, alongside tactical acquisitions.
Catena Media just released their fiscal results in the wake of a cease and desist letter from the Netherlands’ gaming regulator, the KSA. The KSA determined that certain Catena Media advertisements for internet casinos violated Dutch law.
Even with this issue, Catena Media’s Chief Executive, Michael Andersson, has asserted that the firm maintains rigorous compliance requirements, particularly with regard to the vendors they collaborate with. He stressed that Catena Media strives to always operate within legal boundaries.
Andersson clarified that the company’s choice to briefly withdraw from the Netherlands market was a direct result of the KSA’s more stringent stance towards iGaming platforms targeting players in the Netherlands. He conceded that this action would adversely affect their earnings in the near future, costing them an estimated €1-1.5 million monthly. Nevertheless, Andersson contends this maneuver will ultimately prove advantageous to Catena Media over time, placing them in a favorable position when and if the Netherlands market becomes more receptive to their operations.
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