Catena Media has announced its preliminary results for the first quarter of 2021 due to an “exceptionally strong performance.”
Catena estimates revenue will be in the range of €39.1m ($46.5m) to €40.4m, a 46-51% increase from the prior-year period, and a record in quarterly revenues for the company.
Adjusted EBITDA is expected to be in the range of €23.9m to €25.0m, an increase in the range of 85-94% compared to the prior-year period, and again a quarterly record for the company. The adjusted EBITDA margin meanwhile is estimated to be in the range of 59-62%.
“Catena Media announced a strong start in January, and the business has since continued to deliver strong performance for the rest of the quarter leading to preliminary estimated quarterly all-time high revenues and earnings, which significantly exceed the market’s expectations,” a statement from Catena read.”
“The solid outcome is primarily the result of a dedicated team effort to leverage the global business’s strong market momentum and particularly the strong performance of the US business, supported by the successful launch of operations in Michigan and Virginia during January.”
Catena added that the figures may end up above or below the expected ranges, with the company scheduled to publish its final results for Q4 2021 on 19 May 2021.
“This trading update reaffirms our strong start to the year, and I am excited and proud of our teams’ exceptional focus on driving our global portfolio of affiliation brands, and the resulting performance,” said Catena Media CEO Michael Daly (pictured).