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Chart 3: Catena Media revenue and adjusted EBITDA Q123- Q424(€ m)
45 40 35
36.2
30 |
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|
|
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25 |
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20 15 10 |
19.4 |
16.9 |
13.3 |
14.5 |
16.0 |
12.8 |
10.7 |
10.2 |
5 0
2.8
5.8
1.5
1.9
0.7
1.3
1.5
Q123 Q223 Q323 Q423 Q124 Q224 Q324 Q424
Revenue(€ m) Adj. EBITDA(€ m)
Source: company reports
and Illinois, but low likelihood of near-term progress.
The rest of the world segment, including sports, APAC and Latin America saw revenue decline 41 % to € 1.3 million while adjusted EBITDA fell by 31 % year-on-year, though the margin improved to 58 % as costs were reduced to align with declining revenue.
Catena Media has embarked upon company-wide cost reductions aimed at achieving annual cost savings of € 2.2 million from restructuring efforts. The first stage of this included a 10 % reduction in staff headcount.
Meanwhile, the company has instigated an operating model shift towards an OKR or objective and key results system to improve accountability and focus on highimpact areas.
In terms of the capital structure, the plan is to fully repay the senior bond in June 2025 using existing cash reserves.
“ With the repayment of our senior bond, our interest costs will be significantly lower. We are not planning any dilutive equity actions,” said Gerrow.
AI STRATEGY
The much-hyped AI content generation joint venture has been discontinued, recouping € 0.7 million, but Stan insisted the company remains committed to leveraging AI.
“ We continue to see AI as an important business enhancer, for example, in scaling up content output and quality,” he said.“ However, the new Board and management did not deem this particular venture to be the optimal way to realise the opportunity.”
April 2025