Catena Media Plc · OMXSTO:CTM
Catena Media — Q2 2024 Earnings Presentation
16 slides from Catena Media's earnings presentation, Aug 14, 2024
Slide 1: Q2 Interim report April–June 2024
Q2 Interim report April–June 2024 Manuel Stan Mike Gerrow CFO CEO
Slide 2: Overview
Overview → Revenue from continuing operations of EUR 12.8m (14.9). → Four out of five executive management team members new since 1 April: • Manuel Stan CEO, appointed 1 July • Michael Gerrow CFO, appointed 15 April • Pierre Cadena COO, appointed 1 July. • Edward Midolo CTO, appointed 1 April → Impl
Slide 3: New KPI – organic search score
New KPI – organic search score → New KPI of average organic search ranking score for the 70+ most important keywords across Catena Media's products → 5 May Google search policy update reduced effectiveness of some strategic media partnerships → Effect somewhat offset by higher traffic and improved s
Slide 4: Financials Q2 2024
Financials Q2 2024 4
Slide 5: North America
North America North Revenue (EURm) America → Revenue decreased 11% to EUR 11.2m (12.5) → Adjusted EBITDA 24% lower at EUR 4.0m, equal to margin 11.2 12.5 of 36% Apr-Jun 2024 Apr-Jun 2023 → North America contributed 88% (84) of group revenue from continuing operations -11% → In Sports segment, season
Slide 6: Rest of the world
Rest of the world Rest Revenue (EURm) of the world Continuing operations → Revenue down 33%, primarily due to weaker performance in Casino 1.6 2.4 → Adjusted EBITDA of EUR 0.8m, corresponding to margin Apr-Jun 2024 Apr-Jun 2023 of 53% → In Japan, uncertainty over regulatory frameworks negatively imp
Slide 7: Segment performance
Segment performance Segments Continuing operations → Sports revenue from continuing operations down 47% and Sports revenue (EURm) Casino revenue (EURm) accounted for 22% of group revenue. Adjusted EBITDA of EUR -3.2m (-2.7) 2.8 5.2 10.0 9.7 → Casino revenue from continuing operations increased 3% Ap
Slide 8: Cost development
Cost development Cost development¹ Continuing operations → Cost improvement QoQ due to new operating model → Cost base expected to decrease starting in Q3 further following non-renewal of media partnerships in wake of May search engine update: • Minimum guarantees: EUR 1.4m / quarter • Internal and
Slide 9: Healthy financial position
Healthy financial position → Net interest-bearing debt (NIBD) down 46% to EUR 12.4m EURm (23.1) 90 4.0 → Net cash position when future proceeds from divestments 80 3.5 factored in 70 → Continued focus on debt reduction and strategic 3.0 investments 60 2.5 → Debt reduction has priority over any poten
Slide 10: Capital structure
Capital structure CURRENT DEBT OVERVIEW AS OF 30 June 2024 EUR '000 → Cash and cash equivalents of EUR 18.9m on 30 June Bond issue 2021/2025 ‒ Total bonds issued* 27,500 → Reported net debt of EUR 12.4m ‒ Repurchased bonds* (6,150) → Net cash position of EUR 9.6m after adjustment for Outstanding bon
Slide 11: Strategy and outlook Q2 2024
Strategy and outlook Q2 2024 11
Slide 12: Launches in North America
Market penetration* Launches in North America 50% 16% Sports Casino 50% 84% Yet to regulate Yet to regulate 2021 5 sports (23.9m) 2022 4 sports (43.0m) 2023 4 sports (19.5m) 2024 2 sports (9.0m) 2 casino (10.8m) 1 casino (11.9m) Q1 – Michigan, Virginia Q1 – New York, Louisiana Q2 – Arizona Q2 – Onta
Slide 13: Strategic focus areas
Strategic focus areas People Product Profitability + Implement product-led organisational + Build and leverage first-party data for + Build a strong cash flow and lower structure improved decision-making debt position + Finalise senior leadership team with + Focus on products with best ROI, + Implem
Slide 14: Key takeaways and financial targets
Key takeaways Financial targets → New leadership team in place, bringing fresh perspectives 1. Double-digit organic growth in both revenue and adjusted and strategic focus to drive the company forward EBITDA for 2025 and 2026 at group level → New product-focused operating model being implemented, 2.
Slide 15: Q&A Q2 2024
Q&A Q2 2024 15
Slide 16: Contact information and upcoming events
Contact information Upcoming events Investor Relations Interim report Q3 2024 ir@catenamedia.com 7 November 2024 Manuel Stan, CEO manuel.stan@catenamedia.com Michael Gerrow, CFO michael.gerrow@catenamedia.com 16