Raketech Delivers Full Year in Line With Previously Increased Guidance
TRIQ I-IMSIDA IL-GZIRA,MALTA / ACCESSWIRE / February 21, 2024 / Raketech (STO:RAKE) February 21, 2024 - Raketech Group Holding Plc (Nasdaq:RAKE) today announced the fourth quarter report for 2023 in line with previously increased guidance, with a total revenue of EUR 22.8 million and an organic growth of 45.3% Y/Y. The full-year 2023 revenue amounted to EUR 77.7 million and an organic growth of 47.6%. Raketech also updates guidance for 2024, where EBITDA is expected to come in between EUR 24-26 million.
"This result serves as a solid platform for the coming year, where we will focus on identifying new markets, evaluating expansion options, assessing new partnerships, and focusing on business growth. I am fully committed to driving additional value for our company," says Johan Svensson, Acting CEO of Raketech.
Q4 2023 FINANCIAL HIGHLIGHTS
- Revenues in Q4 of 2023 totaled EUR 22.8 million (EUR 15.7 million) with an organic growth of 45.3% (23.1%), driven primarily by continued growth within sub-affiliation.
- EBITDA amounted to EUR 6.0 million (EUR 6.4 million) somewhat impacted by a softer development in Sweden, compared against a strong fourth quarter 2022 impacted positively by the FIFA World Cup in in that year. Other regions showed good performance and sub-affiliation continued to grow.
- Operating profit amounted to EUR 2.8 million (EUR 4.3 million), lower as an effect of increased non-cash affecting amortisation and depreciation on intangibles assets relating primarily to the prior acquisition of Casumba.
- Free cash flow increased to EUR 4.8 million (EUR 2.2 million) with only minor earnout settlements during the quarter.
DIVIDEND PROPOSAL AND OUTLOOK
- The Board of Directors proposes to the Annual General Meeting 2024 a dividend corresponding to EUR 0.10 per share (EUR 0.094), representing an increase of 6% from last year.
- Guidance for 2024:
- EBITDA is expected to come in between EUR 24-26 million.
- Free cash flow is estimated to amount to EUR 22-24 million before cash settlements of the Casumba earnout of EUR 18.3 million this year.
SUBSEQUENT EVENTS AFTER THE END OF THE PERIOD
- Revenues in January 2024 amounted to EUR 7.3 million (EUR 5.0 million).
- Supported by positive results from Sub-affiliation
- On January 11, 2024, the board of Directors appointed Johan Svensson as Acting CEO, replacing the former CEO Oskar Mühlbach.
Read the full report at: https://raketech.com/investor-relations/
REPORT AND PRESENTATION
Acting CEO Johan Svensson and CFO Måns Svalborn will present the report in a conference call on Wednesday, February 21, 2024, at 09:00 CET.
Presentation outline:
- Business update by Acting CEO Johan Svensson
- Financials Q4 2023 by CFO Måns Svalborn
- 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-q4-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=5007379
For more information, please contact:
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. Carnegie Investment Bank AB (publ) 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 2024-02-21 08:00 CET.
Attachments
SOURCE: Raketech
View the original press release on accesswire.com
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