In the face of difficulties presented by the COVID-19 outbreak, Catena Media, a leading affiliate marketing company, anticipates unprecedented revenue and earnings for the second quarter of 2020.
This forecast, revealed in their recent market update, predicts revenue to hit €27.7 million (equivalent to $31.7 million USD), a 17% increase from the corresponding period last year. More remarkably, their adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) is projected to land between €14.5 and €14.8 million. This would establish a new quarterly profit milestone for the company, signifying a 52% surge from 2019.
Catena credits this achievement to the robust performance of its internet casino division, which compensated for the pause in live sporting events from March to May. In March, the company made a calculated decision to bolster its online casino offerings to counter the disruption in the sports realm. This proved to be an astute move, as their AskGamblers brand and their Japanese operations both reached record-breaking revenue during the second quarter.
While Catena’s sports betting division was unavoidably affected by the pandemic, it experienced an upswing towards the quarter’s end as major football leagues resumed competition. New depositing customers (NDCs), a vital industry indicator, did decrease by 13% compared to the year’s first quarter. However, the 104,000 NDCs figure still represents a 4% growth compared to the second quarter of 2019.
Per Hellberg, Chief Executive Officer of Catena Media, recognized the difficult global conditions but conveyed contentment with the company’s results. He remarked, “Considering the exceptional global circumstances, the second quarter has been demanding, and we are thus pleased to report that the actions taken within the company have enabled us to attain the most favorable quarterly outcomes in the company’s history.”
The Q2 financial results for Catenas will be released on the nineteenth of August.