STOCKHOLM, May 22, 2019 /PRNewswire/ --
FIRST QUARTER 2019
- Total revenues amounted to EUR 8.7 million (EUR 4.9 million) representing an increase of 78.2%. Total revenues include other non-operating income of EUR 2.3 million (nil) related to a waived liability regarding one related party during the quarter which is recognised as other income.
- Revenues excluding other income increased by 31.6% to EUR 6.5 million (EUR 4.9 million).
- Organic growth amounted to 21.5% (10.2%).
- Adjusted EBITDA increased by 38.3% to EUR 3.5 million (EUR 2.5 million), corresponding to a margin of 54.1% (51.5%).
- Adjusted operating profit amounted to EUR 2.8 million (EUR 2.3 million), corresponding to a margin of 43.4% (47.5%).
- Profit for the period amounted to EUR 4.7 million (EUR 0.9 million).
- Earnings per share amounted to EUR 0.12 (EUR 0.04).
- NDCs (New Depositing Customers) increased by 76.1% to 28,607 (16,243).
EVENTS DURING Q1 2019
- On 4 March, the outstanding debt of EUR 7.7 million from the previous loan facility was repaid as a final step in optimising the Group's capital structure post-IPO.
- On 31 March, an agreement with one related party was reached to waive the amount of EUR 2,281,714. This amount is recognised as other income within the consolidated statement of comprehensive income.
SUBSEQUENT EVENTS AFTER THE END OF THE PERIOD
- On 24 April, Oskar Mühlbach was appointed as Chief Operating Officer.
- On 26 April, Raketech acquired the assets of the leading Finnish sport listing website TVmatsit.com for an initial purchase price of EUR 1.6 million plus an additional EUR 0.3 million payment over the next 24 months based on agreed performance targets.
CEO MICHAEL HOLMBERG COMMENTS THE QUARTER
"The beginning of the year has been characterised by the ongoing stabilisation phase in the Swedish gaming market, following the introduction of the new gambling legislation in January 2019. I am therefore happy to announce that we are delivering a good quarter and that we maintain our focus on organic growth and geographical expansion.
Revenues increased by 32 per cent compared to the first quarter of 2018, amounting to EUR 6.5 million. Adjusted EBITDA increased by 38 per cent to EUR 3.5 million, corresponding to a margin of 54 per cent. Organic growth amounted to 22 per cent of the revenues, and the key driver for this growth is higher traffic volumes, especially for our casino products and our TV sports guides.
While maintaining our position as a market leader in Sweden, we are simultaneously increasing our focus on geographical expansion. We have global ambitions and prioritise markets that are important to our partners, the gaming operators. As such, we are further strengthening our organisation for future expansion, both in terms of employees and technical platforms.
We are committed to creating sustainable growth across all of our markets - current as well as future markets. I am confident in our ability to continue strengthening Raketech's position as a leading affiliate with innovative and responsible services high on the agenda."
PRESENTATION FOR INVESTORS, ANALYSTS AND THE MEDIA
CEO Michael Holmberg and CFO Andreas Kovacs will present the report and answer questions in an audiocast at 9.00 a.m. CET on 22 May. The presentation will be held in English and can be followed online via https://tv.streamfabriken.com/raketech-q1-2019. To participate by phone, please dial +46 8 505 583 51 (SE) or +44 333 300 92 67 (UK).
FOR MORE INFORMATION
This information is such that Raketech Group Holding P.L.C. is required to publish under the EU Market Abuse Regulation. The information was submitted under the auspices of the above contact person for publication at 8.00 a.m. CET on 22 May 2019.
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 in primarily the Nordic region and the UK. Through some 20 flagship brands, 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 with ticker RAKE. Erik Penser Bank AB is the company's Certified Adviser (email@example.com / +46 8 463 83 00). For more information, visit www.raketech.com.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
Raketech Q1 2019
Press release PDF
SOURCE Cision AB