Highlights of the third quarter of 2021
- Operating revenue was
EUR 33.1m (24.9), an increase of 33 percent. - Organic growth was 23 percent, or 34 percent excluding the now-regulated German sports betting and casino market.
- New depositing customers (NDCs) totalled 153,701 (94,710), an increase of 62 percent.
- Revenue from North American sports betting and casino rose by 124 percent and accounted for 51 percent (30) of group revenue.
-
Adjusted EBITDA increased by 33 percent and totalled
EUR 16.0m (12.0), corresponding to an adjusted EBITDA margin of 48 percent (48). -
EBITDA, including items affecting comparability of
EUR 1.1m (-0.2), increased by 23 percent and totalledEUR 14.9m (12.2), equal to an EBITDA margin of 45 percent (49). -
Earnings per share were
EUR -0.51 (0.05) before dilution andEUR -0.34 (0.03) after dilution, reflecting the one-offEUR 49.4m impairment charge recognised during the quarter. -
Operating cash flow increased by 17 percent to
EUR 9.9m (8.5). -
Cash and cash equivalents totalled
EUR 28.6m (45.4) on 30 September. -
Net interest-bearing liabilities (NIBL) were
EUR 59.3m (67.4) on 30 September, resulting in a leverage ratio (NIBL/adjusted EBITDA) of 0.87 (1.32). - On 14 July, an extraordinary general meeting resolved to authorise the company to acquire its own shares.
-
On 9 September Catena Media announced the acquisition of North American online sports betting and casino affiliation assets from i15
Media, LLC , for a total purchase price ofUSD 45 million . -
From 13 September to 15 October, the group repurchased 1,504,810 of
Catena Media ordinary shares, resulting in a cash outflow ofEUR 8.6m .
Highlights of the first nine months 2021
- Operating revenue was
EUR 104.2m (79.4), an increase of 31 percent. - Organic growth was 29 percent, or 42 percent excluding the now-regulated German sports betting and casino market.
- New depositing customers (NDCs) totalled 451,272 (318,565), an increase of 42 percent.
- Revenue from North American sports betting and casino rose by 122 percent and accounted for 49 percent (29) of group revenue.
-
Adjusted EBITDA increased by 41 percent and totalled
EUR 56.0m (39.7), corresponding to an adjusted EBITDA margin of 54 percent (50). -
EBITDA, including items affecting comparability of
EUR 5.1m (2.0), increased by 35 percent and totalledEUR 50.9m (37.7), equal to an EBITDA margin of 49 percent (47). -
Earnings per share were
EUR -0.18 (0.08) before dilution andEUR -0.12 (0.05) after dilution and reflected the one-offEUR 49.4m impairment charge recognised in Q3. -
Operating profit was negatively impacted by a non-cash impairment on intangible assets of
EUR 49.4 (zero).EUR 42.8m related to German sports assets acquired between 2016 and 2018 whileEUR 6.6m pertained to French sports assets acquired in 2018. -
Operating cash flow increased by 27 percent to
EUR 47.1m (37.1).
Significant events after the period
- On 19 October Catena Media announced preliminary results for the third quarter and an impairment charge on German and French sports assets.
-
The company issued 2,207,357 new shares with a value of
USD 12.5 million as part-payment of the i15 media assets acquisition. - In October, total revenue grew 21 percent, or 36 percent excluding the German sports betting and casino market, compared to the same month last year. Revenue from North American sports betting and casino grew 125 percent.
CEO
For
The results underscore the benefits of
In Q3, the strength of our North American and Japanese businesses more than counterbalanced a customary seasonal dip in Sports and regulatory challenges in
The launch of regulated sports betting in
I am happy with the contributions from both Lineups.com and our i15 Media assets and look forward to leveraging their capabilities. We have begun to see revenue synergies, via operator deal consolidations, from Lineups and are continuing to align that business with
We have ambitious plans for the Asian market, where
Progress in multiple markets such as
In
Overall in
In
Financially, the group stands on a solid foundation. During the quarter we commenced a share buyback programme to optimise our capital structure by returning capital to shareholders. The acquisition of i15 Media assets underlined our ongoing readiness to use our financial strength when attractive business opportunities arise. That said, I foresee our growth in the coming months as being largely organic as we accelerate the exciting journey of internationalising our products and becoming a truly global force in our industry.
Presentation of
A combined audiocast and telephone conference with the opportunity to ask questions will be held at
The presentation audiocast will be accessible via the following link:
https://tv.streamfabriken.com/catena-media-q3-2021
The presentation will also be available on our website:
https://www.catenamedia.com/investors/reports/quarterly
To participate via telephone, please call any of the following numbers:
SE: +46 8 566 427 07
US: +1 646 722 49 56
Contact details for further information:
E-mail: michael.daly@catenamedia.com
Phone: +46 768 95 26 93, E-mail: peter.messner@catenamedia.com
Investor Relations
E-mail: ir@catenamedia.com
The information was submitted for publication, through the agency of the contact persons, on
About
https://news.cision.com/catena-media/r/an-exceedingly-strong-quarter-that-showed-the-value-of-our-diversified-global-footprint,c3455142
https://mb.cision.com/Main/12863/3455142/1497337.pdf
(c) 2021 Cision. All rights reserved., source