Catena Media Plc · OMXSTO:CTM
Catena Media — Q3 2024 Earnings Presentation
17 slides from Catena Media's earnings presentation, Nov 7, 2024
Slide 1: Q3 Interim report July-September 2024
Q3 Interim report July-September 2024 Manuel Stan Mike Gerrow CFO CEO
Slide 2: Overview
Overview → Continued work on new organisational structure, finalised in October → Cost-reduction measures to streamline content production and content market teams are expected to generate cost savings of EUR 2.2m per year → Recruitment of Liv Biesemans as Chief Legal and Compliance Officer complete
Slide 3: Financial summary
Financial summary Group Revenue (EURm) NDC’s (‘000s) Continuing ops → Revenue from continuing operations of EUR 10.7m (15.9) → Quarter-over-quarter adjusted EBITDA margin up from 5% 10.7 15.9 27.3 40.1 to 13% due to cost-side measures. Adjusted EBITDA Jul-Sep 2024 Jul-Sep 2023 Jul-Sep 2024 Jul-Sep 2
Slide 4: Organic search score
Organic search score → Since Q2, we have continued to observe a trend towards positive organic search rankings for Catena Media owned and operated brands → Overall stable development during Q3, with higher organic traffic and incremental gains for several important keywords, while some products lost
Slide 5: Financials Q3 2024
Financials Q3 2024 5
Slide 6: North America
North America North Revenue (EURm) America → Revenue decreased 29% to EUR 9.5m (13.3) → Adjusted EBITDA 24% lower at EUR 4.4m, equal to margin 9.5 13.3 of 47% – an improvement of 3pp compared to Q3 2023. Jul-Sep 2024 Jul-Sep 2023 → North America contributed 89% (84) of group revenue from continuing
Slide 7: Rest of the world
Rest of the world Rest Revenue (EURm) of the world Continuing operations → Revenue down 53%, primarily due to weaker performance in both segments 1.2 2.6 → Adjusted EBITDA of EUR 0.7m, corresponding to margin Jul-Sep 2024 Jul-Sep 2023 of 58% (20) → In Japan, uncertainty over regulatory frameworks co
Slide 8: Segment performance
Segment performance Segments Continuing operations → Sports revenue from continuing operations down 57% and Sports revenue (EURm) Casino revenue (EURm) accounted for 23% of group revenue. Adjusted EBITDA of EUR -1.3m (-1.6) 2.5 5.7 8.2 10.1 → Casino revenue from continuing operations decreased 19% J
Slide 9: Cost development
Cost development Cost development¹ Continuing operations → Significantly improved cost base due to new operating model and termination of unfavourable media partnerships → Further initiatives to streamline content production and content marketing teams post-quarter are expected to generate a net ann
Slide 10: Financial position
Financial position EURm 90 4.0 → Net interest-bearing debt (NIBD) down 43% to EUR 14.6m (25.4) 80 3.5 → Net cash position when future proceeds from divestments 70 factored in 3.0 60 → Continued focus on strategic investments and also on 2.5 debt reduction by reducing senior bond principal 50 → Debt
Slide 11: Capital structure
Capital structure CURRENT DEBT OVERVIEW AS OF 30 SEPTEMBER 2024 EUR '000 → Cash and cash equivalents of EUR 11.7m on 30 September Bond issue 2021/2025 ‒ Total bonds issued 27,500 → Reported net debt of EUR 14.6m ‒ Repurchased bonds (6,150) → Net cash position of EUR 7.4m after adjustment for schedul
Slide 12: Strategy and outlook Q3 2024
Strategy and outlook Q3 2024 12
Slide 13: Launches in North America
Market penetration* Launches in North America 50% 16% Sports Casino → The lack of state launches after Q1 continued to produce challenging comparables 50% 84% → On November 5, Missouri voters approved an an Yet to regulate Yet to regulate amendment to the state constitution to allow sports betting.
Slide 14: 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 + Finalised senior leadership team with + Focus on products with best ROI, + Imple
Slide 15: Key takeaways and financial targets
Key takeaways Financial targets → Continued implementation of new product-focused 1. Double-digit organic growth in both revenue and adjusted operating model – strong focus on core products and EBITDA for 2025 and 2026 at group level targeted investments to enhance organisational alignment and effic
Slide 16: Q&A Q3 2024
Q&A Q3 2024 16
Slide 17: Contact information and upcoming events
Contact information Upcoming events Investor Relations Year-end Report Q4 2024 Interim Report Q2 2025 ir@catenamedia.com 11 February 2025 12 August 2025 Manuel Stan, CEO Annual Report 2024 Interim Report Q3 2025 manuel.stan@catenamedia.com Week 13 2025 4 November 2025 Michael Gerrow, CFO Interim Rep