Catena Media saw revenue increase by 2 per cent in Q1 despite the impact of the pandemic on its sports betting segment.
Malta.- Lead-generation company Catena Media saw a 2 per cent rise in revenue year-on-year in quarter one, despite the impact of the Covid-19 pandemic on its sports segment.
Operating revenue reached €26.7million and adjusted EBITDA grew 15 per cent to reach €12.9million. Operating profit increased by 16 per cent, to €9million.
Catena said the impact of the Covid-19 pandemic on its sports betting segment had been partly offset by the stronger performance of its casino segment and cost-saving measures to reduce direct costs in the sports segment as well as operational costs.
The casino segment accounted for €16.4million, or 61 per cent of total revenue, and sports betting accounted for €8.7million.
Growth in organic search revenue grew by 10 per cent to reach a record high for the company.
CEO Per Hellberg said: “We continue to execute on our long-term strategy and are starting to see good results on the actions and investments we carried out last year.
“As countries start to open again, people will get back to work, sports events will kick off and we will continue our growth journey.”