US expansion set to drive revenue and earnings growth at Catena in Q1

In a trading update, Catena said revenue for the three months to 31 March is likely to amount to between €39.1m (£34.0m/$46.5m) and €40.4m, which would represent an increase of 46% to 51% on the same period last year.

Should Catena reach these expected levels of revenue, it would also represent a record quarterly performance by the group.

Adjusted EBITDA for the quarter is forecast to be in the range of €23.9m to €25.0m, which would be between 85% and 94% higher than Q1 last year, and also a record quarterly amount.

Reflecting on the performance, Catena said it experienced a positive start to the year, with the business having since continued to deliver strong performance.

This, Catena said, was driven by the performance of the US business, supported by the launch of operations in Michigan and Virginia during January.

“This trading update reaffirms our strong start to the year, and I am excited and proud of our teams’ exceptional focus on driving our global portfolio of affiliation brands, and the resulting performance,” Catena chief executive Michael Daly said.

Catena plans to publish its full results for the first quarter on 19 May.

In February, Catena reported a 3.1% increase in revenue to €106.0m in 2020, as the impact of sports suspensions and declines in many European markets were balanced out by growth in igaming and new markets such as the US.