Manuel Stan stated in an interview, "In my view, the group previously tried to do too much, dispersing resources and leading to insufficient optimization of core products. The new board and management unanimously believe that there needs to be a high focus on operations. We are now in a more advantageous position to concentrate on core products and drive revenue growth."
"For this reason, we have completed extensive prioritization work, and as a first step, we are eliminating many underperforming domains so that our team can focus on top products."
Overall, Catena's revenue for the second quarter reached 12.8 million euros, a 14% decrease from the previous year, while adjusted EBITDA significantly dropped by 67%.
Stan is optimistic about the transformation period, summarizing, "I believe our current strategy is based on the three pillars I mentioned earlier—talent, products, and profit. From a talent perspective, the new organizational structure and product foundation are a challenging task for the company, but it is the right approach to focus on the correct products."
"We have hired most of the new management team members in the past three to four months and will complete the reorganization by the end of this year."
"Therefore, it is crucial to have the right people in the right roles and to bring high positivity and energy levels to the company again. Secondly, from a product perspective, as I said, I think Catena did too much in the past, allocating too many resources across different products."
He added, "Thus, an important task we have done in the past few weeks is to create a comprehensive framework to prioritize our projects and products. From a product perspective, the entire company is now focusing on some of our key products."
"We will significantly reduce our website portfolio in the coming periods, streamlining it to some assets and products that we can manage properly. Even within these assets and products, we have clear first, second, and third priorities so that the entire organization can focus on them."
"Finally, from a product perspective, as we have said, we are doing our utmost to understand where inefficiencies lie and trying to capitalize on opportunities. These three pillars will be the core of our future strategy."
