Catena Media revenues up 78% for H1
Affiliate marketing group refers 91,222 new depositing customers to clients but is forced to withdraw from Dutch market
Affiliate marketing company Catena Media recorded a 78% year-on-year revenue increase of €30.3m in H1.
EBITDA also increased to EUR €13.5m, up from €8.7m in H216, while operating profit also increased to €12m.
The Stockholm-listed company has grown its affiliate network through aggressive M&A and is confident of becoming the industry leader in affiliate marketing for online gambling operators.
The number of new customers referred by Catena to its clients rose 92% YoY to 91,222.
During the period, the firm moved into new offices in London and Serbia and relocated to a new space in Malta.
The affiliate firm has withdrawn its services from the Dutch market in the face of strict compliance standards regarding the affiliate’s operators.
The Dutch Gaming Authority (KSA) forced out the firm after it failed to comply with strict regulations banning foreign sites from marketing to local players in Dutch.
Catena CEO Robert Andersson fears the move could cause monthly revenue losses of up €150,000.
“Longer term it puts us in a favourable position, if and when the Dutch market re-regulates as the Upper House of Parliament is currently considering the Remote Gaming bill which aims to regulate online gambling,” he added.
On the strength of the firm’s growth Andersson said: “The strong development of this key performance indicator is a reflection that the underlying business development continues to be strong and healthy.”