Raketech Group Holding PLC today announces a non-cash intangible assets impairment charge of EUR 48.5 million and a trading update for the fourth quarter of 2024.
Revenues in Q4 2024 are expected to amount to EUR 12.3 million (EUR 22.8 million), with an adjusted EBITDA of EUR 3.2 million (EUR 6.0 million), slightly ahead of Q3 2024 and in line with previously updated guidance. Reported EBITDA is expected to amount to EUR 3.0 million (EUR 6.0 million).
Following last year’s operational review, Raketech has continued to optimise its portfolio with a dedicated focus on core products ensuring resources are allocated to its most strategic areas. As a result, a non-cash impairment charge of EUR 48.5 million will be recognised in the fourth quarter of 2024, relating primarily to a reduction in the intangible book value of non-core assets acquired pre-IPO. This reassessment reflects the group's proactive approach to navigating a changing operating environment whilst committing to delivering sustainable growth and value creation.
Raketechs year-end report for 2024 will be published on February 19, 2025.
