Catena Media reports Q4 slowdown as it targets future growth
Catena Media has recently published a report covering its financial performance in the last quarter of 2023.
The company’s latest report highlighted Catena Media’s operating revenue first, which was recorded at 14.5 million euros in the period, down by 41% from the revenue of 24.5 million euros recorded in the last quarter of 2022. The firm’s operating EBITDA decreased even further, going from last year’s 11.8 million euros to 1.5 million euros and representing a reduction of nearly 90%.
Catena Media’s FY2023 performance, on the other hand, involved a set of smaller decreases, with the firm’s revenue being recorded at 76.7 million euros at the end of the period and representing a 22% reduction from 2022’s revenue of 98.6 million euros. The company also experienced a decrease of 47% in its operating EBITDA, which went from the preceding year’s 48.4 million euros to 25.4 million euros.
The company mentioned that it is currently carrying out a thorough investment initiative that will provide Catena Media with a healthy growth trajectory for the long-term future. This will include significant integrations with various cutting-edge technologies, namely AI, to establish the company’s leading position in the industry. The firm added that it expects that this initiative will enable it to achieve organic growth in the second half of the year.