Catena Media publishes financial targets for 2023-2025

16 May 2023

(PRESS RELEASE) -- Catena Media presents new financial targets for 2023-2025, affirming the company’s commitment to maximize the market opportunity in North America and to deliver sustainable growth and create shareholder value.

The targets are:

- Revenue in North America of USD 125 million in 2025, which is equivalent to a compound annual organic growth rate of 12 percent from 2022.

- The adjusted EBITDA margin in North America to exceed 50 percent in 2025, which is intended to be achieved through cost optimisation measures that will ensure continued high profitability during the period.

- Net interest-bearing debt/adjusted EBITDA to fall within the span of 0-1.75x.

The group’s solid financial footing will create financial flexibility and give scope for future share buybacks and dividends, if these are deemed to maximise shareholder value. The strong finances will also underpin the group’s long-term intention to capitalise on strategic opportunities, which may include acquisitions, in the Americas.

CEO Michael Daly commented: “The North American market is still relatively early in its growth cycle

and process, with many states and provinces yet to open for online sportsbook, and many more for online casino.

“Due to the US federal election cycle, we will see a temporary slowdown in state openings and will adjust operationally to that reality over the next 12-18 months. After that, we expect a resumption, and perhaps even an acceleration, of state launches once a new legislative cycle starts in 2025.

“North America represents an attractive opportunity for sustainable growth over the long term, and we remain deeply committed to taking full advantage of the market’s strong fundamentals and our unique position as a leading affiliate partner for operators.”

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