Catena Media launches cost reduction programme in wake of recent divestments

Catena Media has today initiated a cost reduction programme of EUR 3.8-4.2 million to optimise group operations following the sale of the group’s UK and Australian brands.

The annual cost reductions announced today are in addition to the EUR 2.8 million decrease in the annual cost base directly attributable to the UK-Australia divestment, which was announced on 3 August 2023.

The cost reduction programme reflects the operational impact of the UK and Australian divestments, implemented as part of the strategic review announced in May 2022. This has further reduced the number of markets in which Catena Media operates and streamlined the brand portfolio, producing a more agile business with a clearer structure focused on North America.

Approximately 90 percent of the cost reductions announced today are expected to be realised by year-end, with the full impact to be achieved during the first half of 2024. It is expected that these will be primarily achieved by streamlining support functions at Catena Media’s European operations.

Contact details for further information:

Investor Relations 
Email: ir@catenamedia.com

Michael Daly, CEO
Email: michael.daly@catenamedia.com

Erik Edeen, Interim Group CFO
Email: erik.edeen@catenamedia.com

This information is information that Catena Media plc. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by the contact persons above on 8 August 2023 at 19:05 CEST.

About Catena Media

Catena Media is a global leader in generating high-value leads for operators of online casino and sports betting platforms. The group’s large portfolio of web-based affiliation brands guides users to customer websites and enriches the experience of players worldwide. Headquartered in Malta, the group employs over 350 people across the globe. The share (CTM) is listed on Nasdaq Stockholm Mid Cap. For further information see catenamedia.com.