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Catena Media
(CTM)
Catena Media (CTM) vs. iShares MSCI Sweden ETF (EWD)
Catena Media Business Overview & Revenue Model
Catena Media Earnings Call Summary
Catena Media Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 46.60M | 49.64M | 76.75M | 110.12M | 136.11M |
| Gross Profit | 34.20M | 38.65M | 63.31M | 98.74M | 120.62M |
| EBITDA | -5.64M | -40.59M | -11.21M | 49.05M | -405.00K |
| Net Income | -11.56M | -48.21M | -38.24M | 25.62M | -7.17M |
Balance Sheet | |||||
| Total Assets | 113.11M | 146.81M | 242.03M | 322.63M | 366.17M |
| Cash, Cash Equivalents and Short-Term Investments | 9.32M | 8.48M | 38.51M | 23.87M | 26.96M |
| Total Debt | 29.00K | 21.85M | 57.59M | 76.66M | 88.75M |
| Total Liabilities | 5.58M | 23.98M | 66.84M | 100.11M | 137.65M |
| Stockholders Equity | 107.53M | 122.83M | 175.18M | 222.52M | 228.52M |
Cash Flow | |||||
| Free Cash Flow | 6.25M | 137.00K | 19.91M | 26.87M | 22.45M |
| Operating Cash Flow | 7.51M | 2.66M | 20.04M | 56.38M | 65.80M |
| Investing Cash Flow | 19.41M | 11.62M | 34.34M | -30.91M | -43.36M |
| Financing Cash Flow | -24.90M | -44.74M | -34.88M | -27.66M | -24.18M |
Catena Media Technical Analysis
Catena Media Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | kr13.07B | 6.56 | 23.20% | 5.03% | 11.84% | 12.09% | |
65 Neutral | kr2.85B | 32.73 | 4.76% | ― | -5.16% | -48.79% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | kr181.01M | -1.00 | -19.82% | ― | -25.10% | 82.01% | |
44 Neutral | kr59.12M | 56.48 | -229.41% | ― | -10.21% | -1.15% | |
41 Neutral | kr133.52M | -3.14 | ― | ― | 32.83% | 13.34% | |
39 Underperform | kr170.14M | -2.82 | -74.31% | ― | 13.37% | 43.23% |
Catena Media Corporate Events
Fitch Ratings has affirmed Catena’s long-term credit rating at BBB with a stable outlook, underscoring the rating agency’s confidence in the company’s financial profile and risk management. The decision comes in the wake of Catena’s SEK 8.8 billion acquisition of 20 modern logistics properties in Sweden and Denmark, a deal that also marks its strategic expansion into Finland and strengthens its position as a leading Nordic logistics real estate platform.
By maintaining the BBB rating, Fitch signals that Catena’s enlarged portfolio and cross-border growth have not materially weakened its credit quality. The affirmation supports Catena’s access to capital markets on competitive terms, which is likely to facilitate the integration of the new assets, sustain its development pipeline and underpin stable returns for investors in an increasingly competitive logistics property sector.
The most recent analyst rating on (SE:CTM) stock is a Hold with a SEK2.50 price target. To see the full list of analyst forecasts on Catena Media stock, see the SE:CTM Stock Forecast page.
Catena reported a solid 2025, underscoring its strong position in the Nordic logistics property market with rental income up 21 percent to SEK 2,651 million and net operating surplus up 23 percent. Profit from property management climbed 28 percent to SEK 1,613 million, earnings per share from property management rose to SEK 26.72, and EPRA NRV per share increased, while 73 percent of the lettable area is now environmentally certified.
Full-year profit advanced to SEK 1,644 million, and the board proposed a 5.6 percent higher dividend of SEK 9.50 per share, underlining confidence in cash flow and balance sheet strength. Strategically, Catena capped the year by executing its largest acquisition to date, a Nordic logistics portfolio that marks its entry into Finland and deepens its footprint in Sweden and Denmark, adding modern assets and reputable tenants that further entrench its regional leadership in logistics properties.
CEO Jörgen Eriksson highlighted employees’ perseverance and the company’s long-term targets as key to building a solid platform for 2026, suggesting continued emphasis on sustainable growth and market expansion. The combination of robust financial metrics, increased environmental certification and transformational portfolio growth signals that Catena is consolidating its role as a leading Nordic logistics property owner, with potential implications for higher earnings resilience and stronger appeal to income-focused investors.
The most recent analyst rating on (SE:CTM) stock is a Hold with a SEK2.50 price target. To see the full list of analyst forecasts on Catena Media stock, see the SE:CTM Stock Forecast page.
Catena has agreed to acquire a 20-asset logistics property portfolio from Urban Partners for about SEK 8.8 billion, expanding its presence across Sweden, Denmark and, for the first time, Finland. The deal, financed through internal funds and external credit facilities, adds 612,000 square metres of lettable space and more than 1.3 million square metres of land, including around 70,000 square metres of building rights.
The portfolio, 96.5 percent let with an average lease term of roughly 11 years to tenants such as Dagab, Dahl and Tokmanni, is expected when fully let to generate annual net operating income of about SEK 483 million. The transaction, effective 1 April 2026, will make Finland a new reporting region for Catena, reinforcing its position in the Nordic logistics real estate market and broadening both its geographic footprint and customer base.
The most recent analyst rating on (SE:CTM) stock is a Hold with a SEK2.50 price target. To see the full list of analyst forecasts on Catena Media stock, see the SE:CTM Stock Forecast page.
Catena Media reported its strongest quarter since its mid-2024 restructuring, with Q4 revenue from continuing operations jumping 53 percent to EUR 15.6 million and adjusted EBITDA more than tripling, driven by a sharp rebound in North America and strict cost discipline. Casino, including regulated and social sweepstakes offerings, led growth supported by favourable search algorithm changes, while sports betting remained under pressure and contributed little to momentum.
The group accelerated diversification via its MRKTPLAYS subaffiliation platform, a fast-growing CRM vertical and the launch of the PlayPerks loyalty programme, initiatives aimed at deepening user engagement and broadening revenue streams beyond core search traffic. Despite a full-year revenue decline and earlier impairments on North American sports and Asia-Pacific casino assets, rising margins, stronger cash flow and tighter focus on high-potential verticals signal a more resilient, profit-oriented business model for 2026 and beyond.
The most recent analyst rating on (SE:CTM) stock is a Sell with a SEK1.50 price target. To see the full list of analyst forecasts on Catena Media stock, see the SE:CTM Stock Forecast page.
Catena Media, a Malta-based lead-generation specialist for the online casino and sports betting sector, will publish its interim report for the fourth quarter of 2025 on 10 February at 17:35 CET. The company will follow the release with a combined webcast and teleconference at 18:00 CET, hosted by CEO Manuel Stan and CFO Michael Gerrow, giving investors and analysts the opportunity to pose written and verbal questions on the company’s recent performance and outlook, underscoring its efforts to maintain transparency and engagement with the market.
The most recent analyst rating on (SE:CTM) stock is a Sell with a SEK1.50 price target. To see the full list of analyst forecasts on Catena Media stock, see the SE:CTM Stock Forecast page.
Catena has announced that its Head of Sustainability, Amanda Thynell, will leave the company during the spring of 2026 to pursue new opportunities in sustainable community development. Thynell, who has held the role since 2022, has led the development of Catena’s strategic sustainability agenda, including target-setting, governance structures, energy-efficiency measures and broader industry collaboration initiatives such as the #HusFörHus project. CEO Jörgen Eriksson praised her for embedding sustainability into Catena’s processes and daily operations, underscoring the centrality of sustainability to the company’s strategy as it now faces the task of managing this leadership transition in a core strategic area.
The most recent analyst rating on (SE:CTM) stock is a Sell with a SEK1.50 price target. To see the full list of analyst forecasts on Catena Media stock, see the SE:CTM Stock Forecast page.
Catena has expanded its share capital following a previously announced private placement approved under an authorization from shareholders, increasing the total number of shares and votes by 6,036,010 during January 2026. As a result, the company’s registered share capital now amounts to SEK 292,142,901.60 distributed across 66,396,114 shares, all carrying equal voting rights, a move that strengthens its capital base and may support continued investment in its logistics property portfolio and long-term growth strategy.
The most recent analyst rating on (SE:CTM) stock is a Hold with a SEK1.50 price target. To see the full list of analyst forecasts on Catena Media stock, see the SE:CTM Stock Forecast page.
Catena has carried out a directed share issue of 6,036,010 new shares, raising approximately SEK 2.75 billion before transaction costs at a 3–4 percent discount to recent trading levels, with strong participation from both Swedish and international institutional investors, including major shareholders Backahill and WDP. The equity raise is intended to support a potential SEK 9 billion acquisition of a 20‑property Nordic logistics portfolio that would mark Catena’s entry into Finland and extend its weighted average lease term to more than seven years, while also funding ongoing development projects and preserving a conservative balance sheet by materially lowering leverage and providing investment headroom of SEK 2.5–3.0 billion for further opportunities in Finland, Sweden and Denmark.
The most recent analyst rating on (SE:CTM) stock is a Sell with a SEK1.50 price target. To see the full list of analyst forecasts on Catena Media stock, see the SE:CTM Stock Forecast page.
Catena plans a directed share issue of up to approximately 6 million new shares to Swedish and international institutional investors to help finance a contemplated SEK 9 billion acquisition of 20 logistics properties in Sweden, Finland and Denmark and to support its wider growth pipeline. The deal, backed pro rata by major shareholders Backahill and WDP, would mark Catena’s entry into the Finnish market and extend its weighted average lease term from 6.5 to more than 7 years, while the equity raise is intended to preserve balance sheet strength, lowering loan-to-value from 39.2% to about 32.8% and reducing net debt/EBITDA, and to leave headroom of SEK 2.5–3.0 billion for future investments; the board is opting for a swift, directed issue over a rights issue to capture time-sensitive opportunities and broaden its institutional shareholder base.
The most recent analyst rating on (SE:CTM) stock is a Sell with a SEK1.50 price target. To see the full list of analyst forecasts on Catena Media stock, see the SE:CTM Stock Forecast page.
Catena Media has launched MRKTPLAYS+, an enhanced version of its MRKTPLAYS subaffiliation platform, to deepen strategic partnerships and accelerate growth for publishers and digital businesses in the regulated North American online casino and sports betting market, while remaining open to partners globally. The new modular framework adds tailored marketing and operational support, including content and marketing advisory services, working capital solutions and potential minority equity participation, aiming to help high-potential partners scale more efficiently and strengthen long-term collaboration. Executives say the initiative is a key step in diversifying Catena Media’s revenue streams, reinforcing the resilience and quality of its earnings base, and building a scalable partnership platform that supports long-term value creation and cements the company’s position in the North American iGaming ecosystem.
The most recent analyst rating on (SE:CTM) stock is a Sell with a SEK1.50 price target. To see the full list of analyst forecasts on Catena Media stock, see the SE:CTM Stock Forecast page.
Catena Media has disclosed that Nordic Compound Investment A/S has acquired a significant stake in the company, now holding 5.0% of its shares and voting rights as of 9 January 2026. The crossing of this ownership threshold, reported under Malta’s Capital Markets Rules, signals the arrival of a new notable shareholder that could influence future governance dynamics and investor perceptions of the betting-affiliate group.
The most recent analyst rating on (SE:CTM) stock is a Sell with a SEK1.50 price target. To see the full list of analyst forecasts on Catena Media stock, see the SE:CTM Stock Forecast page.
Catena Media announced that non-executive board member Stephen Taylor-Matthews will step down from the board of directors effective 31 January 2026, leaving the board with four non-executive directors until the next annual general meeting. Taylor-Matthews, who played a key role in strengthening the company’s search engine optimisation, technology team and internal product processes during a pivotal phase of the group’s transformation, departs with public recognition from Chairman Erik Flinck for his contribution, signalling continuity in the board’s oversight despite the leadership change.
The most recent analyst rating on (SE:CTM) stock is a Hold with a SEK2.00 price target. To see the full list of analyst forecasts on Catena Media stock, see the SE:CTM Stock Forecast page.
Catena AB has signed a letter of intent to acquire a major portfolio of 20 logistics properties across Sweden, Denmark and Finland valued at about SEK 9 billion, adding roughly 600,000 square metres of lettable space to its holdings. The largely Swedish and Finnish portfolio comprises modern, high-quality assets in prime logistics locations with well-known tenants and an average remaining lease term of around 11 years, and Catena plans to finance the deal through existing liquidity and additional debt. The prospective transaction, which would mark a significant expansion into the Finnish market and reinforce Catena’s position as a leading Nordic logistics real estate player, is targeted for signing in the second half of February 2026 with closing expected on 1 April 2026, although the company cautions that the non-binding LOI may not necessarily result in a final agreement.
The most recent analyst rating on (SE:CTM) stock is a Hold with a SEK2.00 price target. To see the full list of analyst forecasts on Catena Media stock, see the SE:CTM Stock Forecast page.
Catena Media has disclosed that Swedish investment company Investment AB Öresund has reduced its stake in the group, now holding 4.9 percent of the shares and voting rights as of 16 December 2025. The change in ownership, reported under Malta’s Capital Markets Rules and published via the company’s website, may signal a modest shift in the shareholder structure of the Stockholm-listed affiliate marketing specialist, information closely watched by investors tracking institutional support and liquidity in the stock.
The most recent analyst rating on (SE:CTM) stock is a Hold with a SEK2.00 price target. To see the full list of analyst forecasts on Catena Media stock, see the SE:CTM Stock Forecast page.