Catena expects US expansion to boost Q1 earnings
Catena Media has claimed that it is hoping to see an impressive year-on-year boost in its revenue and adjusted EBITDA for Q1 of this year, which will mainly be brought on by its success and good performance in its US expansion.
Catena mentioned in an update that the revenue for the three months leading up to the 31st of March is most likely reaching somewhere between €39.1 million and €40.4 million, which in itself means an increase of 46% to 51% compared to the same time last year.
If the affiliate is able to reach these numbers in revenue, it would mean that the firm would see a record quarterly performance. Catena is expecting its adjusted EBITDA to be around €23.9 million to €25 million, which is 85% and 94% higher than the same time in 2020, and also another quarterly record.
Catena stated that it had kicked off the year in a positive manner, as it kept on delivering a good performance. The affiliate also said that this was all thanks to its performance in the US, where it launched operators in January in both Virginia and Michigan.
Michael Daly, chief executive at Catena stated:
“This trading update reaffirms our strong start to the year, and I am excited and proud of our teams’ exceptional focus on driving our global portfolio of affiliation brands, and the resulting performance.”
Catena will be releasing its Q1 2021 results on the 19th of May. Back in February, the group witnessed a 3% increase in revenue up to €106 million throughout 2020, since the damages from cancellations of many sports events throughout Europe were alleviated through the growing iGaming scene in fresher markets including the US.