Reading Time: 3 minutes
FOURTH QUARTER 2018
- Revenues increased by 65.6% to EUR 7.6 million (EUR 4.6 million)
- Organic growth amounted to 50.2% (6.1%)
- Adjusted EBITDA increased by 122.1% to EUR 4.5 million (EUR 2.0million), corresponding to a margin of 59.3% (44.2%)
- Adjusted operating profit amounted to EUR 3.8 million (EUR 1.8 million), corresponding to a margin of 49.6% (39.9%)
- Profit for the period amounted to EUR 1.7 million (EUR 0.8 million).
- Earnings per share amounted to EUR 0.05 (EUR 0.03) before dilution
- NDCs (New Depositing Customers) increased by 141.4% to 35,948 (14,891)
FULL-YEAR 2018
- Revenues increased by 49.0% to EUR 25.6 million (EUR 17.1 million)
- Organic growth amounted to 29.9% (16.6%)
- Adjusted EBITDA increased by 48.9% to EUR 14.4 million (EUR 9.7 million), corresponding to a margin of 56.3% (56.4%)
- Adjusted operating profit amounted to EUR 12.7 million (EUR 9.0 million), corresponding to a margin of 49.7% (52.5%)
- Profit for the period amounted to EUR 4.6 million (EUR 5.8 million)
- Earnings per share amounted to EUR 0.15 (EUR 0.24) before dilution
- NDCs (New Depositing Customers) increased by 48.2% to 99,599 (67,193)
EVENTS DURING Q4 2018
- With an effective date of 3 October 2018, Raketech repaid EUR 15.5 million of the current loan facility.
- On 5 October 2018, Raketech launched Urheiluveikkaus.com as its flagship sports betting product for Finland.
- Raketech launched esportsguide.com on 16 November 2018, to target the global esports community.
- Raketech partnered with Trustly on 21 November 2018, to provide in-banner Pay N Play technology across Raketech’s product portfolio.
- On 7 December 2018, Raketech acquired a number of Norwegian affiliate assets within consumer finance, including the flagship product Norskkredit.no.
- Raketech entered into an agreement with Swedbank for a revolving credit facility of EUR 10 million on 20 December 2018.
- The Board of Directors proposes that no dividend is to be paid for the 2018 financial year as Raketech operates in a growing market.
- In order to capitalise on this and the ongoing consolidation in the market Raketech intends to prioritise growth activities which include further acquisitions.
CEO MICHAEL HOLMBERG COMMENTS THE QUARTER
“I am pleased to announce a strong end to 2018, which was a record-breaking year for Raketech. We strengthened both financially and strategically over the past twelve months, and our focus on creating organic growth has continued.
Revenues for the fourth quarter amounted to EUR 7.6 million, an increase of 66 percent compared to the corresponding quarter last year. The organic revenue growth amounted to 50 percent. Adjusted EBITDA amounted to EUR 4.5 million, corresponding to a margin of 59 percent. For the 2018 full year, revenue growth was 49 percent and the adjusted EBITDA margin amounted to 56 percent, well above our financial targets.
Our TV sports guides performed particularly well in the quarter and supported revenue growth. During 2018 we enhanced the guides with new features and dedicated sections for specific sporting events, which have turned out to be very popular among the users. We have also exhibited steady growth for our latest products targeting the UK and Germany, and see traffic increasing for recently launched Esportsguide.com which targets the growing global esports market. The latter is yet another example of scalability within our product strategy – entering new markets or verticals with existing platforms.
The regulation of the Swedish gaming market came into effect on 1 January 2019, and we put a big focus on activating a new Swedish compliance strategy at the end of 2018 to ensure our sites follow robust compliance criteria. With a clear compliance strategy executed, we can now focus resources on driving traffic to our new and existing regulated partners in Sweden with which we have established long-term deals. It is still early days and the operators and players are adapting to the new setting, but we believe the market will normalise over time and we see many opportunities ahead.
All in all, I am very proud of the progress and achievements made by the team in 2018, and look forward to the company’s continued growth journey in 2019.”
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 21 February. The presentation will be held in English and can be followed online via https://tv.streamfabriken.com/raketech-q4-2018. To participate by phone, please dial +46 8 566 42 705 (SE) or +44 333 300 9034 (UK).
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Raketech: Year-end Report 2018…
The post Raketech: Year-end Report 2018 appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.
Source: Eastern European Gaming – Affiliate Programs – News – Legal Updates
