Catena Media, i-gaming lead generator, has released its interim report for the three months to the end of June, reporting revenues of €15.1m, an increase of 58 per cent year-on-year.
Operating profit increased to €5.38m, corresponding to an operating margin of 36 per cent.
The adjusted operating profit, excluding costs related to the planned change of listing to NASDAQ Stockholm, amounted to €7.06m.
Turnover was €6.27m and the group reached a record number of new depositing customers - 91,222 - an increase of 92 per cent year on year and a rise of 13 per cent compared to the previous quarter.
CEO Robert Andersson said: “Catena Media continued its strong development in the second quarter of 2017. Search revenues are at an all-time-high of €11.53m, an increase of 58 per cent year-on-year, and an increase of five per cent compared to the previous quarter despite a negative impact of €0.3m as a result of withdrawing from the Dutch market.
“Paid revenues amounted to €3.11m, an increase of 35 per cent year-on-year but a decrease of 16 per cent compared to the previous quarter due to sports seasonality and the ongoing shift to perpetual revenue models on paid media.
“The second quarter has been characterised by the highest rate of product launches ever. The announcement and debut of the revamped JohnSlots website, one of Catena’s most important brands, has been a success with a significant increase in traffic,” he added.
“We are also proud to have launched our first e-sports site, gamerbetz.com, which is a partnership with Gamerz, a global e-sports reality TV show. In addition to this, we launched a new sports podcast in Sweden, which quickly became a success.”
As a result of this fast-paced growth, Catena has outgrown its office spaces in London, Malta and Serbia. The company moved to new accommodation in both London and Serbia during the first quarter and is now in the process of moving into new headquarters in Malta. During the second quarter, the company acquired three affiliate networks, including affiliate websites, accounts and associated agreements.
In July, the company acquired sports affiliate Bettingpro.com and related affiliate assets. In June, Catena was successful in raising €50m, the second tranche of a €100m bond. The proceeds will primarily be used for further acquisitions, and the company is in ongoing talks with several more potential targets.
