TRIQ I-IMSIDA IL-GZIRA, MT / ACCESSWIRE / November 15, 2023 / Raketech (STO:RAKE) November 15, 2023 - Raketech Group Holding Plc (Nasdaq: RAKE), today announced the third quarter interim report in line with the increased trading update from July 24th with a total revenue of EUR 21.5 million and an organic growth of 66% Y/Y, adjusted EBITDA grew by 16.5% Y/Y to EUR 5.6 million. The company is expected to close 2023 in line with previously increased guidance of EBITDA at EUR 23-25 million as well as net cash flow in the interval of EUR 13-15 million, while beating guidance with regards to revenue of EUR 65-70 million.
"We are pleased to report another strong quarter, in line with the updated trading guidance for 2023. The team reached an all-time high in revenue performance and organic growth and a solid EBITDA, supported by the strong demand for our infrastructure solutions in Sub-Affiliation, and complemented by stable growth at higher margins in our core segment Affiliation Marketing," says Oskar Mühlbach, CEO of Raketech.
Q3 2023 FINANCIAL HIGHLIGHTS
- Q3 of 2023 reached an all-time high in terms of revenues, totaling EUR 21.5 million (EUR 13.0 million) with an organic growth of 65.8% (14.2%).
- Adjusted EBITDA grew by 16.5% Y/Y to EUR 5.6 million, driven by strong development in Casumba, part of our Flagship strategy, and significant growth within sub-affiliation.
- With three solid quarters behind us, we expect to comfortably close 2023 in line with our previously increased guidance of EBITDA at EUR 23-25 million as well as net cash flow in the interval of EUR 13-15 million, while beating guidance with regards to revenue of EUR 65-70 million.
- Adjusted Operating profit amounted to EUR 2.3 million (EUR 2.9 million), impacted by increased non-cash affecting amortisation following adjustments attributable to amounts committed on acquisitions relating to Casumba.
- The calculation period for the largest share of the contingent consideration relating to the acquisition of Casumba is coming to an end in December this year, which means that we can, with a high degree of certainty, determine the majority of the earnout.
SUBSEQUENT EVENTS AFTER THE END OF THE PERIOD
- Revenues in October 2023 amounted to EUR 7.7 million (EUR 5.0 million)
Read the full report at: https://raketech.com/investors/
REPORT AND PRESENTATION
CEO Oskar Mühlbach and CFO Måns Svalborn will present the report in a conference call at 09:00 CET.
Presentation outline:
- Business update by CEO Oskar Mühlbach
- Financials Q3 2023 by CFO Måns Svalborn
- A detailed plan regarding earnouts in Casumba
- Key takeaways
- Q&A
The presentation can be followed via both a conference call and an online audio cast, including a Q&A session open to all listeners at the end of the presentation.
If you wish to participate via webcast, please use the link below. Via the webcast you are able to ask written questions.
https://ir.financialhearings.com/raketech-q3-report-2023
If you wish to participate via teleconference, please register on the link below. After registration, you will be provided with phone numbers and a conference ID to access the conference. You can ask questions verbally via teleconference.
https://conference.financialhearings.com/teleconference/?id=5001817
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. 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 2023-11-15 08:00 CET.
Attachments
Raketech Q3 2023
SOURCE: Raketech
View source version on accesswire.com:https://www.accesswire.com/803602/raketech-delivers-a-strong-q3-in-line-with-previously-increased-trading-update
