Catena Finishes 2021 With $14.40M in Operating Losses

Catena Media Plc, the record-breaking Stockholm-listed online lead generation company with a retention rate higher than 5 million monthly users, has published its full-year results for 2021. At a quick glance, Catena’s earning performance suffered a blow because of the European sports media assets that the partner-focused company purchased in recent months.

Catena Is Determined to Stay on Track of Its Global Growth Plans

The company that perfectly adapted to the newest user needs and market changes in recent years was able to build a scalable business model and a sophisticated technology platform while keeping the focus on the iGaming world and global financial services. Catena plans to keep leading the way towards new and better horizons in the fields of lead generation and marketing.

The company expressed its commitment to promote international growth in the long term by presenting its continuous expansion projects despite the full-year operating loss of €12.7 million ($14.4 million) registered in 2021. After a strong start to 2021 with its record earnings, the company’s earnings performance suffered a serious hit caused by the impairment of the previously bought French and German, and French sports media assets for a total of €49 million ($55.5 million).

However, Catena’s corporate revenues went up 28% from €106 million ($120 million) in 2020 to €136 million ($154 million) in 2021. Catena’s North America-based network growth accounted for half of the registered yearly revenues. The media giant also recorded growth across all of its essential media units, with casino verticals in the lead with a 22% increase to €86 million in yearly revenues from €70 million in 2020.

The company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) results also went up from €42 million in 2020 to €52 million in 2021. With the help of its enlarged properties in the US, Catena managed to successfully expand its network of sports betting, registering a 51% increase in revenues from €30 million in 2020 to €46 million in 2021. Here, the EBITDA contribution doubled from €7.6 million in 2020 to €15.6 million in 2021.

The setbacks in Germany did not stop the company’s network from registering a 32% growth in the number of new depositing customers from 443,000 in 2020 to 585,000 in 2021. Catena also improved the performance of its cash flow from assets totaling €74.8 million throughout 2021.

Catena Wants to Reach €88 million ($100 million) Mark in Ontario in 2022

With big plans for its North American revenues to reach and exceed the €88 million ($100 million) milestone in 2022, Catena has a bright and optimistic outlook on the future. At the beginning of the year, the company’s sports betting offers from its affiliates were successfully launched in Louisiana and New York. At the beginning of Q2, Catena plans on launching its casino and sportsbook betting in Ontario, Canada. Last September, Catena strengthened its exposure in North America by acquiring i15 Media.

Chief Executive Officer Michael Daly said the company would keep positioning itself in such a way that it can keep up with the worldwide trends in regards to the shifting casino and sports betting rules. The company plans on using last year’s “challenging experience” caused by Germany’s harsh online gaming restrictions as a valuable lesson for the future.

Catena anticipates that its business model will continue to thrive in regulated markets worldwide while also relying on its advanced investment program for its Canadian launch. Catena plans on making Ontario its largest market in North America in the upcoming years.