Catena Media plc (CTM) Q2 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.918 Good evening, everyone. Welcome to Catena Media's Q1 Interim Report. 00:00:05.918 -- 00:00:11.866 I am Manuel Stan, and today I am joined by our Chief Financial Officer, Mike Giroux. 00:00:11.866 -- 00:00:17.493 Today we will be speaking to our Q1 Interim Report, related financials, and our strategy 00:00:17.493 -- 00:00:19.613 and outlook. 00:00:22.179 -- 00:00:26.304 We will start today's presentation with a high-level summary of the most important developments 00:00:26.304 -- 00:00:28.094 in the quarter. 00:00:28.094 -- 00:00:33.565 Q1 showed a continued underperformance across both casino and sports segments, resulting 00:00:33.565 -- 00:00:38.030 in a 3% revenue decline compared to Q4. 00:00:38.033 -- 00:00:43.063 The adjusted EBITDA margin fell to 9% after two quarters moving in the right 00:00:43.063 -- 00:00:44.727 direction. 00:00:44.727 -- 00:00:48.915 On the back of the poor performance, we have taken significant measures to streamline 00:00:48.915 -- 00:00:51.365 operations and cut costs. 00:00:51.365 -- 00:00:56.413 These measures include flattening the organization by removing a senior management 00:00:56.413 -- 00:01:01.140 layer plus review and removal of certain external services. 00:01:01.140 -- 00:01:06.227 The elimination of more than 50 roles across the organization estimated to generate 00:01:06.227 -- 00:01:10.473 annual cost savings of 4.5 to 5 million euro. 00:01:10.473 -- 00:01:15.261 And the consolidation of our tech stack expected to generate annual cost savings of more 00:01:15.261 -- 00:01:18.623 than 0.8 million euro. 00:01:18.837 -- 00:01:22.982 On the positive side, during the quarter, we continue to see improved performance in 00:01:22.982 -- 00:01:28.308 our efforts to diversify the group's revenu...