Catena Media has posted its Q2 report, showing that it made a 16% loss in revenue from continuing operations for the period when compared to Q2 2022.
Key highlights:
– Revenue including discontinued operations for Q2 falls 37%, while revenue from continuing operations falls by 16%
– Catena’s adjusted EBITDA including discontinued operations hits four-year low of €2.8m
– The company’s market capitalisation currently stands at SEK 1.28bn
– Meanwhile, it has a net debt of €21.3m
For Q2 2023, affiliate Catena has posted its revenue from continuing operations and its revenue including discontinued operations (a figure that it has historically used to represent its revenue in general). Catena’s reported revenue for the quarter stands at €16.9m ($18.4m), which is down 16% on Q2 2022’s €20.1m.
Breaking down Catena’s €18.1m revenue including discontinued operations, the company saw losses across the board with its US operations falling by 16%, totalling €12.5m overall.
This follows a steady trend in recent years, which has seen Catena’s revenue including discontinued operations fall incrementally after Q2 2021 – which can be seen in the graph below.
Looking at Catena’s adjusted EBITDA including discontinued operations, its figure for Q2 2023 fell by 70% annually to €2.8m.
When looking at this sum compared to Catena’s last four quarterly results, a similar trend to its revenue including discontinued operations can be seen.
In Q2 2020, adjusted EBITDA including discontinued revenue stood at €14.8m, which rose to €14.9m in Q2 2021, while for Q2 2022, Catena posted a decrease, totalling €9.1m.
In a similar trend to its revenue results, Catena also posted its adjusted EBITDA from continuing operations for Q2 2023, which totalled €2.6m – a 60% drop on its Q2 2022 sum of €6.5m.
Moving on to Catena’s loss for the period from continuing operations attributable to the equity holders of the parent company for the period, it recorded a significant drop on the €432,000 in profit it posted in Q2 2022, with Q2 2023 posting a sum of minus €2m.
However, if Catena’s figure for the period included discontinued operations, then Catena has made a substantial loss of €18.2m.
The data below shows Catena’s profit and loss for the period from continuing operations attributable to the equity holders of the parent company over the previous four quarters (2020-2023), which highlights its uneven performance seen in recent years.
