TRIQ I-IMSIDA IL-GZIRA, MALTA / ACCESSWIRE / February 21, 2023 / Raketech (STO:RAKE)
To better reflect Raketech's current business mix, the Board of directors has today decided to replace the current financial targets with a more detailed near-term guidance for revenues, EBITDA and Free cash flow.
Guidance for 2023:
- Raketech expects revenues, excluding acquisitions, to reach EUR 60 - 65 million in 2023, driven by the strategic growth initiatives.
- EBITDA is expected to come in between EUR 20 - 24 million. This includes operational costs of approximately EUR 2 million for the year as an effect of Raketech taking over Casinofeber and Infinileads, following the end of the earnout period.
- Free cash flow is expected to increase substantially to around EUR 11-13 million, including approximately EUR 6 million following the integration of Casinofeber and Infinileads
Long-term, Raketech has identified significant growth initiatives, which in combination with the ongoing global shift from offline to online gambling, puts the company in a good position for continued expansion. Additionally, the Board expects that Raketech's strongly cash-generative business model will allow for selective M&A, investments in organic growth and dividends to shareholders in line with current policy.
Raketech's Year-end report for 2022 will be published tomorrow, 22nd of February at 08.00 CET.
For more information, please contact:
investor@raketech.com
About Raketech Group
Raketech is a leading online affiliate and content marketing company, with expertise in delivering comparison services for sports and gaming, online guides, communities and social media products. Raketech guides sports and gaming enthusiasts to the best possible services, while also delivering high-quality traffic and leads to its partners. Raketech grows both organically and via acquisitions and operates its business in accordance with a clear framework for responsible affiliate marketing services. The company's shares are listed in Nasdaq First North Premier Growth Market with ticker RAKE. Erik Penser Bank AB is the company's Certified Adviser: +46 8 4638300 / certifiedadviser@penser.se. For more information, visit www.raketech.com.
This information is information that Raketech is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-02-21 20:15 CET.
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Raketech to replace current financial targets with detailed near-term guidance
SOURCE: Raketech
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