Catena Media plc (CTM) Q1 2025 Earnings Call

Investor webinar replay

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.938 Good evening, everyone. Welcome to Catena Media's Q1 Interim Report. 00:00:05.938 -- 00:00:11.886 I am Manuel Stan, and today I am joined by our Chief Financial Officer, Mike Giroux. 00:00:11.886 -- 00:00:17.513 Today, we will be speaking to our Q1 Interim Report, related financials, and our strategy 00:00:17.513 -- 00:00:19.813 and outlook. 00:00:22.199 -- 00:00:26.304 We will start today's presentation with a high-level summary of the most important developments 00:00:26.304 -- 00:00:28.111 in the quarter. 00:00:28.111 -- 00:00:33.561 Q1 showed a continued underperformance across both casino and sports segments, resulting 00:00:33.561 -- 00:00:38.045 in a 3% revenue decline compared to Q4. 00:00:38.049 -- 00:00:43.078 The adjusted EBITDA margin fell to 9% after two quarters moving in the right 00:00:43.078 -- 00:00:44.741 direction. 00:00:44.741 -- 00:00:48.909 On the back of the poor performance, we have taken significant measures to streamline 00:00:48.909 -- 00:00:51.365 operations and cut costs. 00:00:51.365 -- 00:00:56.432 These measures include flattening the organization by removing a senior management 00:00:56.432 -- 00:01:01.138 layer, plus review and removal of certain external services. 00:01:01.138 -- 00:01:06.145 The elimination of more than 50 roles across the organization, estimated to generate 00:01:06.145 -- 00:01:10.471 annual cost savings of 4.5 to 5 million euro. 00:01:10.471 -- 00:01:15.098 And the consolidation of our tech stack, expected to generate annual cost savings of 00:01:15.098 -- 00:01:18.620 more than 0.8 million euro. 00:01:18.854 -- 00:01:22.979 On the positive side, during the quarter, we continue to see improved performance in 00:01:22.979 -- 00:01:28.325 our efforts to diversify the group's re...